March 15, 2022
Age Pension, Disability Support Pension and Carer Payments are rising from Sunday (March 20).
Pension rates will increase by $20.10 a fortnight for singles to $987.60, and by $30.20 a fortnight for couples to $1488.80.
Asset test limits have also been increased.
The asset limit for a single homeowner will rise by $6750 to $599,750, and for a homeowner couple it will increase by $10,000 to $901,500.
Federal Member for Wide Bay Llew O’Brien said the increases would assist pensioners with changes in the cost of living.
“We understand the financial pressures faced by the elderly and families,” he said.
Pension payments are usually adjusted twice a year, in March and September, reflecting changes in the CPI.
The basic rate of JobSeeker payment will rise by $13.20 to $629.50 for singles without children, while the Parenting Payment will increase by $18.10 to $874.10 for singles.
The fortnightly maximum rate of Rent Assistance will also increase to $145.80 for single recipients with no children, $171.50 for families with up to two children and $193.62 for families with three or more children.
- Full details of the new rates are available to download (281kb PDF)
