Pension up, but don't pop the champagne

Pension rate up by $7.20 a fortnight from September 20, 2019

Money
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No joy for those receiving Newstart, widow allowance or sickness allowance which will increase by $3.30 a fortnight.

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IT WILL get you a cup of coffee, but better hold the muffin. The base age pension will increase by $6.80 a fortnight from September 20.

The rise, which applies to the age pension, disability support pension and carer payment, takes the base rate single rate to $850.40 a fortnight; for couples the payment rises to $641 each (up $5.10 each).

The energy supplement remains unchanged at $14.10 (single) and $10.60 (couple each), while the supplement rises 40 cents for singles to $68.90 and 30 cents for couples to $51.90 each.

That brings the total base pension to $933.40 (single) and $703.50 (each member of a couple) - overall rises of $7.20 (single) and $5.40 (couple, each).

Announcing the second of the twice-yearly payment changes, Human Services Minister Anne Ruston said pensioners affected by reduced deeming rates would see a further increase to their payments from September.

On average, age pensioners affected by deeming will receive an extra $9.59 per fortnight (single) and $12.06 (couple).

The disqualifying assets limits at which the pension cuts out have risen to $574,500 for single homeowners ($785,000 non-homeowners); and $863,500 for couple homeowners, combined ($1,074,000 non-homeowners).

No joy to be had for those receiving Newstart, widow allowance or sickness allowance. Their base rate will increase $3.30 a fortnight to $559.

Lobby groups had been campaigning for a $75 a week increase in the Newstart allowance. More than 180,000 over-55s are jobless and struggling to survive on the payment of just over $40 a day.

Pensions and allowances are adjusted in March and September and are linked to prices and wages, while allowances are linked to the Consumer Price Index.

For a full rundown of payment changes, disqualifying limits and allowances, click HERE

Read more:Newstart not in Government's retirement policy review, says finance minister

Read more: From carer to Newstart: Why Kerri-Ann wants a "leg-up"

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