4.7 million Australians to benefit from September indexation
4.7 million pensioners and allowance recipients will receive an increase to their welfare payments from 20 September 2017.
Minister for Social Services, Christian Porter, said that as a result of the regular twice-yearly indexation, pension payments including Age Pension and Disability Support Pension will rise by $6.10 a fortnight to $894.40 for singles and $4.60 a fortnight to $674.20 for each member of a couple.
People receiving Newstart Allowance whilst they look for work will also benefit from the increases of $3.20 per fortnight for singles with no children and $2.90 a fortnight each for members of a couple.
Recipients of Parenting Payment Single will receive an increase of $4.50 a fortnight.
Payment rates for pensions and allowances are adjusted twice a year, in March and September. Pension increases are linked to prices and wages, whilst allowances are linked to the Consumer Price Index.
“These increases help pensioners and allowance recipients keep up with increases in living costs,” Minister Porter said.
“Rent Assistance rates also increase from next week and a range of income and assets limits for pensions and allowances will also increase as a result of indexation. This includes higher limits to the income and assets test for age pensioners before their payments are affected.
“The amount self-funded retirees can earn to qualify for the Commonwealth Seniors Health Card, which provides access to cheaper medicines and a range of state/territory government and local government concessions increases by $1,003 annually for singles and $802 annually for each member of a couple.”
Details of new rates, free areas and limits can be found at the Department of Social Services website.