Starting next week, millions of Australians receiving Centrelink payments will see a substantial boost thanks to changes in indexation. This increase will benefit more than five million individuals, including pensioners, renters, and job seekers, effective from March 20.
Impact of Indexation on Centrelink Recipients
The federal government has announced that, when combined with indexation adjustments from the past three years, eligible recipients will receive between $3,913 and $5,902 extra annually. This increase is compared to the levels when Labor took office in 2022.
Specific Payment Changes
JobSeeker Recipients
For JobSeeker recipients, the increase will range from $3,374 to $5,038 annually, based on individual eligibility and circumstances.
Pensioner Increases
- From March 20, the maximum single rate for individuals on the age pension, disability support pension, and carer pension will rise by $4.60, bringing the total to $1,149 per fortnight.
- For partnered pensioners, the maximum rate will increase by $3.50 to $866.10 per fortnight, or $7, totaling $1,732.20 per fortnight for pensioner couples. Both these amounts include the pension supplement and energy supplement.
Parenting Payment Increase
Single recipients of the Parenting Payment will see an additional $4 per fortnight, bringing their total to $1,030.30 per fortnight. This includes the pension supplement, pharmaceutical allowance, and energy supplement.
JobSeeker Payments for Singles and Couples
- For a single JobSeeker recipient aged 22 or older with no children, the fortnightly payment will rise by $3.10, totaling $789.90, including the energy supplement.
- For individuals in a couple receiving JobSeeker, ABSTUDY (aged 22 and over), or Parenting Payment Partnered, the increase will be $2.80 per fortnight. The new rate will be $723, which also includes the energy supplement.
Minister’s Comments on the Changes
Minister for Social Services, Amanda Rishworth, emphasized that these indexation changes would support Australians at “whatever age or stage they’re at in life”.
She also highlighted that indexation is a vital part of the social security safety net, which provides critical financial support for pensioners and other payment recipients, easing the financial pressures many face.
Payment Increases from March 20
| Payment Type | New Rate | Increase per Fortnight | Additional Annual Benefit |
|---|---|---|---|
| Single Age Pension, Disability, or Carer | $1,149 | $4.60 | $4,913 |
| Partnered Age Pension | $1,732.20 | $7.00 | $5,902 |
| Parenting Payment (Single) | $1,030.30 | $4.00 | $4,913 |
| Single JobSeeker (22+, no children) | $789.90 | $3.10 | $3,374 |
| JobSeeker, ABSTUDY, Parenting Payment (Couple) | $723.00 | $2.80 | $3,374 |
FAQs
When do the new payment rates take effect?
The new indexation changes will take effect on March 20.
Who will benefit from these payment increases?
Over five million Australians, including pensioners, job seekers, and renters, will benefit from these changes.
How much will the JobSeeker payment increase by?
The JobSeeker payment will increase by up to $5,038 annually, depending on eligibility.
What is included in the pension rate increase?
The increase includes the pension supplement and energy supplement.