Central Coast pensioners, along with those on Youth Allowance, JobSeeker and other social security payments, will be better off after March 20 as the Federal Government raises pensions through indexation.
Recipients of the Age Pension, Disability Support Pension and Carer Payment will receive an increase of $19.60 per fortnight for singles and $29.40 per fortnight for couples combined.
Including the Pension Supplement and Energy Supplement, the maximum rate of pension will be $1,116.30 a fortnight for singles, and $1,682.80 a fortnight for couples.
Commonwealth Rent Assistance, JobSeeker, Parenting Payment Single and ABSTUDY payments will also all be indexed.
The single, without child, rate of JobSeeker Payment and ABSTUDY (aged 22 and over) will increase by $13.50 per fortnight, bringing the total fortnightly payment to $771.50, including the Energy Supplement.
As a result of the $40 increase to working age and student payments announced in the 2023‑24 Budget, together with indexation, the single, without child rate of JobSeeker Payment has increased in nominal terms by $120 per fortnight, or 18.7 per cent, since Labor came to Government.
Each member of a couple on JobSeeker Payment, ABSTUDY (aged 22 and over) or Parenting Payment Partnered will benefit from an additional $12.30 per fortnight, with the fortnightly rate increasing to $706.20, including Energy Supplement.
Parenting Payment Single recipients will also see an additional $17.50 a fortnight as a result of indexation, bringing their total fortnightly payment to $1,006.50, including Pension Supplement, Pharmaceutical Allowance and Energy Supplement.
Member for Dobell Emma McBride said people on the Central Coast are doing it tough and struggling with the cost of living.
“The increase across these social security payments will benefit locals, providing them with more support when they need it,” she said.
Pensions and Seniors Kits with updated indexation details are available from McBride’s office at 1 Bryant Dr, Tuggerah.