Results from the 11th Seniors Social Survey.
From 20th September, the Age Pension, the Veteran Payment, the Disability Support Pension and the Carer Payment will receive an increase because of indexation.
The maximum rate of the single Age Pension will rise by $32.70 per fortnight, taking it from $1,064 to $1,096.70. For couples, it will increase by $49.40 per fortnight, taking their combined payment from $1,604 to $1,653.40.
Chief Advocate Ian Henschke said while people who rely on the Age Pension will welcome the increase, under the current system pensioners are still behind, especially when inflation is unusually high.
Several other government payments will also be increased on 20th September in line with announcements made in the May Budget.
A welcome change is the 15% increase to Commonwealth Rent Assistance. The maximum rate for an eligible single renter will rise by $27.60 to $184.80 per fortnight, for a couple by $26 to $174.
“It’s a good start but more needs to be done to help” Mr Henschke said.
“More can be done to support older people doing it tough. As recent National Seniors research showed, a greater proportion of people with low incomes and those who are renting are suffering from cost-of-living pressures,” Mr Henschke said.
“For example, 39% of older renters told us they were experiencing severe cost-of-living impacts compared to only 11 % of older homeowners.
“What we need is additional targeted support for people with limited means and to stop punishing those who need to work.
“We want a change to income test rules for pensioners who want to work and work more. We will continue to fight for a system that improves people’s lives.”