Pensioners are better off, says Pearce MHR

SINGLE pensioners are $58.60 a fortnight better off than in 2013, and couples are up $88.20 better off after an increase to the age pension, Pearce MHR Christian Porter says.

Mr Porter said the second increase to the age pension this year came into effect on September 20, adding $6.80 to fortnightly payments for singles and $10.20 for couples.

“These increases will see the maximum age pension rise to $867 a fortnight for single pensioners and $1307 for couples combined,” he said.

Mr Porter said pensioners with modest assets would have their pensions increased by an average of more than $30 per fortnight as part of changes that will come into effect in January 2017.

Pension rates are adjusted twice a year, in March and September, in line with growth in prices and wages.

The Newstart Allowance, Parenting Payment, Widow Allowance, Partner Allowance and Sickness Allowance will also increase as a result of the March indexation.

Full details of all rates and thresholds indexed can be found at www.dss.gov.au.

Also read: Cap whacks City’s pensioners.