Govt announces pension increase

THE Federal Government has announced an increase in fortnightly payments for pensioners and other people on income support.

Member for Oxley Bernie Rippoll said pension payments would increase by $29.20 a fortnight for single people on the maximum rate, and $44 a fortnight for couples combined on the maximum rate.

That will make total payments $701.10 for singles and $1057 a fortnight for couples.

“These new rates represent an increase of around $100 per fortnight for singles and around $74 a fortnight for couples combined in pension payments, as a result of the government’s pension increases in September and indexation,” Mr Ripoll said.

“After years of neglect, the government has overhauled the pension system to make it adequate and sustainable for the millions of age and disability pensioners, carers and veterans who depend on it.”

The increase was driven by wages growth in the six months to December, 2009.

Pensions are indexed twice a year to the highest increase of three measures: the consumer price index (CPI), the pensioner living cost index, and growth in male total average weekly earnings (MTAWE).

“People eligible for the Age Pension, Disability Support Pension (adult rate), Carer Payment, veteran income support payments, Wife Pension, Widow B Pension and Bereavement Allowance will all benefit from the increases,” Mr Ripoll said.