Australia. Age Pension increase for mid March
This announcement follows the Royal Commission into Aged Care Quality and Safety’s Final Report, tabled into Parliament on 26 February 2021, which outlined the necessary changes needed in the aged care sector
From 20 March, 2021, all social security payments will be increased, including the Carer Payment.
The Age Pension was not raised last September, which the peak body for older people, National Seniors Australia, says was the first time there was no increase to cover the cost of living in the Pension since 1997.
National Seniors also says the Age Pension has become a target for Budget savings by the Government.
Minister for Families and Social Services Anne Ruston said that the March increases would help recipients, like pensioners, keep up with changes in living costs.
“Indexation is one of the regular mechanisms we have built into our social security safety net to make sure rates reflect the prices payment recipients see at the supermarket and at the bowser,” says Minister Ruston.
The increase will see Age Pensioners and Carers receive an increase of $8.40 a fortnight to their social security payment, bringing the total fortnightly Pension to $952.70 for singles, and $1,436.20 for couples combined.
The Pension Supplement, Energy Supplement, Rent Assistance, and other supplementary payments have also been included in this indexation increase.
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