Sarah Brady
Updated on: October 12, 2024 5:57 pm GMT
More than five million Australians are set to receive a financial boost this week, thanks to a scheduled increase in Centrelink payments and pensions. This adjustment, part of the government’s biannual indexation process, aims to help individuals and families cope with ongoing cost-of-living pressures.
Details of the Centrelink Cash Boost
Effective from Friday, September 20, various payments will see increases designed to address the rising costs that many Australians are facing today. Some of the key changes include:
- JobSeeker Payment:
- Single recipients with no children will see an increase of $15.30, bringing their total to $778 per fortnight.
- Couples will receive an additional $14, making their combined payment $1,424.60 per fortnight.
- Age Pension:
- Singles will receive an increase of $28.10, totaling $1,047.10 per fortnight.
- Couples will see their combined payment rise by $42.40, reaching $1,725.20 per fortnight.
- Parenting Payments:
- Single parents will receive an extra $19.80, raising their payment to $978.60 per fortnight.
- Partnered parents will benefit from a $14 increase, bringing their total to $712.30 per fortnight.
- Disability Support Pension and Carer Payment:
- Both will see an increase of $28.10 per fortnight.
- Commonwealth Rent Assistance:
- The maximum rate will increase by 10%, totaling $211.20 for singles and $248.22 for families with one or two children.
Government’s Response to Economic Pressures
Social Services Minister Amanda Rishworth emphasized the government’s commitment to supporting vulnerable Australians. “This indexation will deliver timely boosts to people receiving allowance payments and pensions,” Rishworth stated. “It ensures that these vulnerable cohorts have more money in their pockets for everyday expenses.”
This cash boost is part of a broader strategy to address economic challenges that have left many struggling to make ends meet. With regular indexation every March and September, the government aims to adjust payments in line with inflation and cost of living increases.
Changes to JobSeeker Eligibility
In addition to the scheduled increases, the government is implementing changes to the eligibility criteria for JobSeeker, effective the same day. Previously announced in the federal budget, recipients assessed with a partial capacity to work between zero and 14 hours per week can now qualify for a higher rate of JobSeeker.
– This change allows for an increase of $71.20 per fortnight for individuals transitioning from the lower to higher rate.
These modifications aim to better support those who need assistance while striving to re-enter the workforce.
Concerns Over Inadequate Payment Rates
Despite these increases, the Australian Council of Social Service (ACOSS) voiced concerns regarding the adequacy of these payments. ACOSS argues that many payment rates remain too low, stating, “ACOSS welcomes investment in social security but the core issue remains: JobSeeker, Youth Allowance, and related payments remain below all measures of adequacy.”
Many recipients have expressed that, while any increase is welcome, the additional funds provided through indexation do not sufficiently offset rising costs. According to feedback shared with Yahoo Finance, some job seekers feel that they are “difficult to survive” on current payment rates, emphasizing the need for further adjustments to truly meet basic living expenses.
ACOSS advocates an increase to JobSeeker rates to a minimum of $80 per day to help individuals and families afford their basic needs.
Conclusion
As the government implements these boosts to Centrelink payments and pensions, many Australians are hopeful that the increases will positively impact their daily lives. However, ongoing discussions surrounding the adequacy of these payments continue, urging authorities to ensure that support programs are effective, timely, and sufficient to truly address the hardships faced by millions in the country.
You can find more information about the payment increases on the official government website.
