Age pension increase from March 20

Age pension increases by $4.95 a week from March 20, 2019


Pensions
Social Services minister Paul Fletcher announces pension increases.

Social Services minister Paul Fletcher announces pension increases.

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Social Services minister Paul Fletcher announces welfare payment increases.

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SINGLE people on the age pension will receive an extra $4.95 a week ($9.90 per fortnight) from March 20 as a result of the twice-yearly welfare payment indexation.

Couples combined will receive an additional $7.40 per week ($14.80 per fortnight) with the same increases applying to the disability support pension and carers payment.

The increases bring the age pension payment to $926.20 per fortnight for a single person and $1396.20 for a couple combined, inclusive of pension and energy supplements.

"Since this government came into office the age pension has increased by $117.80 per fortnight for single pensioners and by $177.40 per fortnight for couples combined," said Minister for Families and Social Services Paul Fletcher.

Pensions and allowances are adjusted twice a year, in March and September. Pension increases are linked to prices and wages while allowance increases are linked to the Consumer Price Index.

Single recipients of newstart allowance. widow allowance and sickness allowance will receive an increase $5.50 a fortnight to $564.50 including energy supplement. Members of a couple will receive an increase of $5.00 a fortnight to $509.60 each, including energy supplement.

Rent assistance rates also increase from March 20, as well as a range of income and assets limits for pensions and allowances. This includes higher limits to the income and assets tests for age pensioners.

Full details: https://www.dss.gov.au/benefits-payments/indexation-rates-march-2019

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