The Government has advised that more than 3.6m pensioners will receive an increase to their payments from 20 March 2014. Minister for Social Services, Kevin Andrews, said single age pensioners will receive an increase of id=”mce_marker”5.70 a fortnight, while age pensioner couples will receive $23.80 extra a fortnight. “This means total pension payments for people on the maximum rate will be $842.80 a fortnight for singles, and id=”mce_marker”,270.60 a fortnight for couples,” Mr Andrews said.
“In addition, around 1m allowance recipients will also benefit from increases to income support payments such as Newstart and Parenting Payment on 20 March,” the Minister said. Single recipients without children on the maximum rate of allowance will receive an extra $9.70 a fortnight. The maximum fortnightly rate will be $519.20. Singles with children on the maximum rate of allowance will receive an extra id=”mce_marker”0.50 a fortnight. The maximum fortnightly rate will be $561.80. Parenting Payment Single recipients will receive an extra id=”mce_marker”3.50 a fortnight. The maximum fortnightly rate will be $725.10.
Full details of all rates and thresholds to be indexed on 20 March 2014 can be found at the Department of Social Services website.
Source: Minister for Social Services media release, 2 March 2014
[LTN 41, 3/3/14]