Charlotte Foster
Money & Banking

Millions of Aussies set for a pension boost

Millions of Australians are set to receive a generous cash increase when an imminent welfare payment indexation comes into effect. 

Those on age pension payments from Centrelink will see a boost to their payment from Tuesday. 

According to figures from the Department of Social Services, single pensioners will receive an increase of $32.70, taking their payments to $1096.70 a fortnight.

Couples on the adult pension will have their fortnightly payments increase by $24.70 to $826.70.

Those on Jobseeker will also receive a boost to their payments, as payments will increase by $56.10 a fortnight to $749.20 for single people aged 22 or more with no children, and by $57.30 a fortnight for those with children to $802.50.

Single people aged 55 or over will also have payments increased to $802.50 after nine months.

Partnered people on Jobseeker will get a $54.80 increase to $686 a fortnight. 

Centrelink recipients on rent assistance, youth allowance and Austudy payments will also receive a boost to their fortnightly payments. 

Despite the increases across many welfare recipient groups, the Australian Council of Social Services says the increases are not enough.

ACOSS said people almost three quarters of people they had surveyed on income support were eating less or skipping meals as the ongoing cost of living criss worsens. 

Half of the respondents said the incoming increase would not help at all, prompting the ACOSS to call for income support to at least match the pension rate.

Image credits: Getty Images

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money & banking, Centrelink, pension, increase