Recipients of the age and disability support pensions, carers and single parents are among the five million Australians who will receive boosts to their payments this month as indexation is applied to the benefits. Source: The Australian.
Other beneficiaries include those receiving JobSeeker and Commonwealth Rent Assistance.
The additional indexation payments will cost the budget an extra $2.2 billion a year, or $84.4 million a fortnight.
Calculated on a 1.8 per cent CPI rise over the six months to December, the new indexation will see more than 3.3 million age and disability support pension recipients receive an additional $19.60 a fortnight for singles and $29.40 a fortnight for couples combined.
It will bump up their maximum rate of pension to $1116.30 a fortnight for singles and $1682.80 a fortnight for couples.
For the almost 800,000 people on JobSeeker, the fortnightly payments will be boosted by $13.50, taking it to $771.50, including the energy supplement.
And Commonwealth Rent Assistance, claimed by almost 1.4 million people, will rise by $3.40 to $188.20 per fortnight for single income support recipients.
Social services minister Amanda Rishworth said the increases would help millions of Australians with the current cost of living pressures.
“Our number one priority is addressing inflation and cost of living pressures. These challenges highlight the importance of regular indexation to ensure that payment recipients have more money in their pockets for everyday expenses,” Ms Rishworth said.
The indexation occurs twice a year, but Ms Rishworth noted some payments had also been boosted in last year’s federal budget, including student payments and rent assistance.
Despite the increases, welfare organisations remain concerned that the current payment rates remain too low to stave off poverty for millions of Australians.
FULL STORY
Welfare indexation to cost taxpayers another $2.2bn (By Stephen Lunn, The Australian)
