Yahoo Finance Centrelink cash boost for millions of Aussies this week: 'More money in pockets'
The Age Pension, JobSeeker and other pensions and payments will increase on Friday.
More than five million Aussies will see a boost to their Centrelink payments and pensions this week. The cash boost is part of the government’s regular indexation, which happens twice a year in March and September.
The Age Pension, JobSeeker, Disability Support Pension and Commonwealth Rent Assistance are among the payments and pensions that will rise on Friday, September 20.
Social Services Minister Amanda Rishworth said the government recognised that many Aussies continued to be impacted by cost-of-living pressures.
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“This indexation will deliver timely boosts to people receiving allowance payments and pensions, ensuring that these vulnerable cohorts have more money in their pockets for everyday expenses,” she said.
Increases are up to $41.50 a fortnight but will vary depending on the payment or pension and the individual’s circumstances.
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How much are Centrelink payments increasing?
The JobSeeker maximum rate will increase by $15.30 a fortnight for a single person with no kids, bringing the total payment to $778 a fortnight.
The partnered rate will increase by $14 a fortnight, taking the total to $712.30 each per fortnight or $1,424.60 combined.
The Age Pension will increase by $28.10 a fortnight for singles and $42.40 for couples combined.
This will bring it to $1,047.10 for singles and $862.60 each for couples, or $1,725.20 total.
The same increase will apply to the Disability Support Pension and Carer Payment.
The Parenting Payment Single base will increase by $19.80 to $978.60 a fortnight, while the Parenting Payment Partnered will increase by $14 to $712.30 a fortnight.
Maximum rates of Commonwealth Rent Assistance will increase by 10 per cent. The maximum rate will increase by $23 to $211.20 per fortnight for singles renting alone, and $27.02 to $248.22 per fortnight for families with one or two children.
You see the complete list of payment increases on the government’s website.
JobSeeker criteria also changing
Changes to the eligibility criteria for JobSeeker, first announced in the federal budget, will also come into effect on Friday.
Recipients with an assessed partial capacity to work zero to 14 hours per week will be able to move onto the higher rate of JobSeeker.
This will work out to an increase of $71.20 a fortnight for someone moving from the lower to higher rate.
Increases not enough, peak welfare body says
Australia’s peak welfare body, the Australian Council of Social Service (ACOSS), said despite the increases, the rates of many payments were inadequate.
“ACOSS welcomes investment in social security but the core issue remains: JobSeeker, Youth Allowance and related payments remain below all measures of adequacy,” ACOSS said.
JobSeeker recipients have told Yahoo Finance that the current payment rates made it "difficult to survive" and the extra money from indexation "doesn't go far" when rising costs are taken into account.
ACOSS has called on the government to rate the rate of these payments to at least $80 a day to allow people to “cover the basics”.
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