Payment increase for more than 3.7 million pensioners
More than 3.7 million pensioners will receive an increase to their payments from 20 September, the second rise this year.
Federal Member for O’Connor Rick Wilson said single age pensioners will receive an increase of up to $11.50 a fortnight, while age pensioner couples will receive up to $17.40 extra a fortnight.
“This means total pension payments for people on the maximum rate will be $854.30 a fortnight for singles, and $1,288.00 a fortnight for couples. This is good news for all the age pensioners in O’Connor,” Mr Wilson said.
In addition, around one million allowance recipients will also benefit from increases to income support payments such as Newstart and Parenting Payment on 20 September.
Parenting Payment Single recipients will receive an extra $7.20 a fortnight, increasing the payment to $732.30.
Newstart Allowance, Parenting Payment Partnered, Widow Allowance, Partner Allowance and Sickness Allowance will increase by $5.20 a fortnight for singles and $4.70 each for couples (including energy supplement).
Mr Wilson said the increases will help pensioners keep up with rises in cost of living expenses.
“Pensions will continue to increase in March and September every year under an Abbott Government.
“The Abbott Government is pleased to deliver increases to those on the Age Pension, Disability Support Pension, Carer Payment and veterans’ income support.
“This is on top of our election commitment delivered earlier this week to annually index the income thresholds for the Commonwealth Seniors Health Card to CPI,” he said.
Full details of all rates and thresholds to be indexed on 20 September can be found at http://www.dss.gov.au/about-the-department/benefits-payments/indexation-rates-september-2014.