Understanding Changes to the Federal Government Pension Increases
On 20 March 2024 the Federal Government announced increases to pensions to assist in the cost of living pressures. Read on below to understand what the changes could mean for you.
Which pensions have been increased?
The changes are across the age pension, disability support pension and carer payments which will increase by $19.60 a fortnight for singles and $29.40 for couples (combined). Changes will also extend to the pension supplement and the energy supplement.
What is the maximum rate?
The maximum rate of pensions is $1,116.30 a fortnight for singles, and $1,682.80 a fortnight for couples. [1]
What are the updated weekly rental subsidy benefits?
*Please Note: The above is a guide only. Hometown Australia strongly recommend residents make their own enquiries as each individuals circumstances and eligibility are different.
What is Rental Assistance?
Rental Assistance is designed to help pay for rent and fees on your principal home and may apply to people living in caravans, boats, mobile, or manufactured homes. All cases may vary in terms of eligibility.
Whilst living in a Hometown Australia Community home you may be eligible for Rental Assistance which will subsidise the site rental you pay to live in the community. Whilst the site rent will vary by community the subsidy is determined by two factors: the rent you pay and the individuals’ eligibility with Centrelink.
Where can I find more information about Rental Assistance?
Rental Assistance subsidies may be available through Centrelink to individuals who require financial assistance due to low income and rent in the private market. Please visit centrelink.com.au for further information.
Reference: [1] https://ministers.dss.gov.au/media-releases/14001
