Couple (each): $645.60 per fortnight (approximately $16,786 per year) – an increase of $24.80 per fortnight. Couple (combined): $1,291.20 per fortnight (approximately $33,571 per year) – an increase of $49.60 per fortnight.
As CPI results in a higher increase, DFRDB/DFRB pensioners over the age of 55 will receive an increase of 3.6% for January 2023.
Increase to working limits for pensioners
Age Pensioners will be able to earn an additional $4,000 this financial year without losing any of their pension.
Pension members to receive up to 5.3% increase
The movement in the CPI (All Groups Sydney Index) from 30 June 2021 to 30 June 2022 was 5.3%. The adjustment rate for State Super pensions is therefore 5.3% for this year.
Eligible pensioners will receive a one-off $4,000 boost to Work Bonus balances from 1 December, 2022. The $4,000 bonus will lift the income cap lift from $7,800 to $11,800 for eligible pensioners.
When you claim a Pension Bonus, generally you must be an Australian resident and in Australia. You must work at least 960 hours during each 12 month period to pass the work test. We call this a bonus period. Only accruing membership can count toward your Pension Bonus.
This means pensioners will be able to work more without losing out on their pension, either in short stints or over the course of a year. The maximum Work Bonus balance will increase from $7800 to $11,800. The changes are expected to remain in place until December 31, 2023.
Latest Age Pension rates (from 20 September 2022)
From 20 September 2022 the maximum full Age Pension increases $38.90 per fortnight for a single person, and $58.80 a fortnight for a couple.
Chancellor confirms triple-lock 10.1% increase in State Pensions from April 2023.
How much State Pension will I get? The latest change announced was a 3.1% rise which came in with the new tax year – starting on 6 April, 2022.
So today, automatically, there's an extra $4,000 credited. "It means that pensioners over the next 12 months will be able to do extra work without having their pension affected." The increased Work Bonus income bank will be in place until December 31, 2023 and is available to pensioners over the age pension age.
Most people on a weekly social welfare payment will get a double payment in the week beginning 17 October 2022.
Lower-income pensioners who claim pension credit will receive the money in addition to the £650 support for those on benefits. This means a small group of pensioners with disabilities will receive a total of £1,500.
Latest Age Pension rates (from 20 September 2022)
Single: $1,026.50 per fortnight (approximately $26,689 per year) Couple (each): $773.80 per fortnight (approximately $20,119 per year) Couple (combined): $1,547.60 per fortnight (approximately $40,238 per year)
3000. 2) In para 3.28 to consider the demand of Pensioners Associations for 5% additional quantum of Pension on attaining the age of 65 years, 10% on 70 years, 15% on 75 years and 20% on 80 years to the Pensioners.
In the Autumn Statement given back in November, Chancellor Jeremy Hunt reinstated the triple lock, meaning the state pension will rise to match inflation - to 10.1 percent in April 2023.
Means-tested benefits claimants, including those receiving Pension Credit, Universal Credit and tax credits, will receive £900 in 2023-24 to help with the rising cost of living.
When will I get the £300 discount? You'll get £300 boost from this month, the second payment announced yesterday will be paid in April 2023. For most pensioner households, they will be paid via a direct debit payment.
The latest figures from the Office for National Statistics revealed that the Consumer Prices Index (CPI) increased by 10.1 per cent in the 12 months to September 2022, meaning that pensioners would be in store for a record increase under the state pension triple lock.
The temporary income bank top-up will increase the amount pensioners can earn in 2022–23 from $7,800 to $11,800, before their pension is reduced. This will assist pensioners who want to work, or work more hours, to do so to a greater extent before their benefits are impacted.
Millions of people claiming certain benefits from the Department for Work and Pensions (DWP) have started to receive a bonus payment in their bank accounts. The £10 annual bonus is made automatically which arrives separately from a claimant's regular State Pension or benefit payment.
How and when do I get the DWP Christmas Bonus? You do not need to claim the payment, you should get it transferred automatically. All government benefits, pensions and allowances are usually paid into an account, eg.
Around one million young people, carers and students are set to receive a boost to their social security payments when indexation increases take effect on 1 January 2023. Recipients of Youth Allowance will see the largest indexation increase to their payment since it began in 1998.