From March 20, millions of Australians receiving Centrelink payments will see significant increases due to new indexation changes. Over five million individuals, including pensioners, renters, and job seekers, are set to benefit.
For instance, single pensioners will gain more than $3,913 annually, while couples will receive an extra $5,902 combined. JobSeeker recipients will also benefit, with increases ranging from $3,374 to $5,038 per year. The maximum pension rate for those on the age pension, disability support, or carer pension will rise by $4.60, making the fortnightly amount $1,149.
Single parents on the parenting payment will see a modest $4 increase, bringing their fortnightly total to $1,030.30, inclusive of the pension supplement, pharmaceutical allowance, and energy supplement. Similarly, individuals aged 22 and over without children receiving JobSeeker will experience a $3.10 boost, raising their payment to $789.90 per fortnight.
Couples on JobSeeker Payment, ABSTUDY, or partnered parenting payments will also receive a $2.80 increase, bringing their total to $723 per fortnight, including energy supplements.
Social Services Minister Amanda Rishworth highlighted that these changes aim to support Australians at every life stage, emphasizing that indexation plays a crucial role in the social security safety net. She noted that the financial boost will provide some relief to pensioners and payment recipients facing cost-of-living pressures.