More than 4.7 million Australians will receive an increase in their Centrelink benefits to cope with the highest inflation in 32 years.
Starting on March 20th, those on the pension, job seekers, and students will receive a 3.7% increase in their benefits on top of the 4% increase received in September.
Single disability pension recipients and carers will receive an extra $37.50, bringing their fortnightly rate to $1,064. Couples will receive an extra $56.40, increasing their fortnightly payment to $1,604.
JobSeeker and ABSTUDY payments will rise by $24.70, bringing the fortnightly payment to $701.90 for single recipients aged over 22 with no children.
Parenting Payments will increase by $33.90 to $967.90 a fortnight for single parents.
Commonwealth Rent Assistance will also increase. Singles will receive an extra $5.60, recipients with two children will receive $6.58, and families with three or more children will receive an additional $7.42.
Welfare payments are indexed twice a year on March 20 and September 20, reflecting inflation over a six-month period based on the two most recent quarters of Australian Bureau of Statistics data.
Social Services Minister Amanda Rishworth said that indexing welfare payments to inflation would help Australians cope with cost of living pressures.
Australia’s social security system exists to support its vulnerable citizens, and the government wants to ensure that they can afford essentials, Rishworth added.
The pension and allowance payments will increase as follows: single and disability pension recipients and carers will receive an extra $37.50, bringing the fortnightly rate to $1,064.
Couples will receive an extra $56.40, raising the fortnight payment to $1,604. JobSeeker and ABSTUDY payments will increase by $24.70, bringing the fortnight payment to $701.90 for single recipients aged over 22 with no children.
Parenting Payments will rise by $33.90 to $967.90 a fortnight for single parents. Commonwealth Rent Assistance will increase by $5.60 for singles, $6.58 for recipients with two children, and another $7.42 for families with three or more kids.