Centrelink update: Pensioners to get a bump in fortnightly payments
Social security payments will rise across the board next month, with Australia’s pensioners set to benefit the most.
Welfare payments are indexed twice a year – once in March and once in September.
The point is to make sure they keep pace - or at least try to - with changes in cost of living and wages.
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By continuing you agree to our Terms and Privacy Policy.From September 20, people on the Age Pension, Disability Support Pension and Carer Payment will get up to $29.70 more in their fortnightly payments.
While it might not go too far at the supermarket, it does mean those pensions have risen by almost $5000 since Labor won government in 2022.
Social Services Minister Tanya Plibersek said on Wednesday the Albanese government “wants to help take the pressure off when it comes to cost of living”.
“Social security recipients are also benefiting from tax cuts, cheaper medicines, energy bill relief, cuts to student debt and a whole range of other cost-of-living measures we’ve delivered since coming into government,” she said in a statement.
“The social security system must be grounded in fairness, which is why we adjust supports as the economy changes.
“We’ll continue to make sure the system is there to support those who need it most, ensuring that everyone can make ends meet and no one gets left behind.”
Indexation for pensions are based on a few different measures, including the Consumer Price Index and male total average weekly earnings.
People receiving rent assistance, JobSeeker, ABSTUDY and parenting Payments are also getting a modest boost.
Originally published as Pensioners to get a bump in fortnightly Centrelink payments
