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Centrelink payments to increase today

·Yahoo Finance Editor In Chief Australia
·2-min read
A close up image of Australian money
Centrelink payments to increase from September 20

Centrelink payments will increase from tomorrow for millions of Australians as an indexation increase to match cost of living pressure kicks in.

The adjustments will start tomorrow September 20 and are set to be the biggest in 30 years. It’s been estimated that the increases will benefit 4.7 million people as inflation continues to rise in Australian and has been predicted to rise as high as 7.75 percent by the end of the year.

Minister for Social Services Amanda Rishworth has said the increase is intended to provide a safety net for many Aussies who are struggling. “We want to ensure Australia has a strong social security safety net to protect our most disadvantaged”

Who benefits from the cash boost?

The Centrelink payment increase will benefit those on JobSeeker, Rent Assistance as well as pensioners, disability support pensioners and carers.

Age Pension, Disability Support Pension and Carer Payment are all set to rise by $38.90 a fortnight for singles and $58.80 a fortnight for couples.

The maximum rate of pension will increase to $1,026.50 a fortnight for singles and $773.80 for each member of a pensioner couple or $1,547.60 per couple (including Pension Supplement and Energy Supplement).

Single parents are set to be paid an extra $35.20 per fortnight, taking the payment total $927.40, and JobSeeker recipients without children will earn an extra $25.70 per fortnight, taking total payment to $677.20.

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