Tuesday, 21st March, 2017 – The Senior
WHILE age pensioners are marginally better off thanks to the new rates from March 20, Australia’s oldest charity argues the pension is “woefully inadequate.”
A recently commissioned Benevolent Society report indicated that many age pensioners had such a low living standard that it was “undignified, insufficient and inadequate”. The age pension and disability support pension rose by $11.20 a fortnight to $888.30 for singles and by $8.40 to $669.60 for each member of a couple.
These figures include small increases to the pension supplement and energy supplement. Rent assistance recipients may also benefit, with the maximum rate for single income support recipients with no children increasing to $132.20 per fortnight.
Some income and assets limits will also change as a result of indexation, including pension assets test limits – up by $3750 for singles and $5500 for couples – meaning recipients can have a higher level of assets before being disqualified from the pension based on the assets test.
Adult rates of pensions and allowances are adjusted in March and September every year. Pension increases are linked to prices and wages, while allowance increases are linked to the Consumer Price Index.
- For a full list of pension payment changes click HERE.