Home World The increase in the indexation of Centrelink payments will start this week

The increase in the indexation of Centrelink payments will start this week

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Older pensioners will see a significant increase in bimonthly payments this month. (AAP Image/Glenn Hunt) NO ARCHIVING

Millions of Australians will see their Centrelink payments rise this week when cost-of-living indexation begins.

The increase in payments is set to be the biggest for 30 years and will benefit age pensioners, disability pensioners, carers’ allowances and those receiving Jobseeker’s and Housing Allowance.

The benefit increase, announced earlier this month, will see the Age Pension rise to $1,025.50 for singles and $1,547.60 for couples, while jobseekers’ benefits will rise to $677.20.

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The increase is the result of a biannual recalibration to ensure that Social Security benefits remain in line with the Consumer Price Index.

Centrelink recipients will receive a significant increase in benefits as the Federal Government seeks to keep pace with rising inflation.  Photo: NCA NewsWire / Luis Enrique Asqui
Centrelink recipients will receive a significant increase in benefits as the Federal Government seeks to keep pace with rising inflation. Photo: NCA NewsWire / Luis Enrique Asqui

Lone parents will receive an extra $35.20, bringing their total payment to $927.40, while jobseekers over 22 with no children will receive an extra $25.70 for two weeks, bringing their total payout to $677.

At the time, Treasurer Jim Chalmers said “this indexation will be particularly large this month because inflation is particularly challenging”.

But shadow social services minister Michael Sukkar said the government’s attempts to take credit for the rise in numbers were ridiculous.

In a Twitter post earlier this month, Mr Sukkar wrote: “Labor’s attempt to claim credit for automatic indexation of payments is ridiculous.”

Melbourne

Hugo Timms is a Leader local news reporter covering the courts, local government, development and crime.

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https://www.theaustralian.com.au/breaking-news/millions-of-aussies-to-get-cash-boost-this-week-from-centrelink/news-story/20f2764c8758d8d48d9cab073236ed56

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