Australia’s Centrelink benefits, including the Age Pension and JobSeeker payments, are set to increase from 20 September 2024. This adjustment, part of the regular indexation process linked to inflation, comes at a critical time when many Australians face rising living costs. The Albanese Government has implemented these changes to provide much-needed financial relief for vulnerable groups like pensioners, people with disabilities, carers, and those seeking employment.
The September 2024 Centrelink increases come at a crucial time for millions of Australians facing cost of living pressures. The Age Pension, JobSeeker, and other payments will increase in response to rising inflation, providing a necessary financial boost to help recipients cover essential costs. Whether you are a pensioner relying on fortnightly payments or a job seeker in need of support, these changes are designed to provide some relief as the economy continues to adjust.
Australia Centerlink Age Pension and JobSeeker Increases
| Benefit | Current Rate (Fortnight) | New Rate (Fortnight) | Increase Amount (Fortnight) | Official Source |
|---|---|---|---|---|
| Age Pension (Single) | $1,116.30 | $1,144.40 | $28.10 | Department of Social Services |
| Age Pension (Couples Combined) | $1,682.80 | $1,725.20 | $42.40 | CPSA |
| JobSeeker (Single, No Children) | $762.70 | $778.00 | $15.30 | Services Australia |
| JobSeeker (Single, with Children) | $816.90 | $833.20 | $16.30 | Services Australia |
These increases are essential in helping Australians navigate the ongoing cost of living crisis, providing recipients with more income for essentials such as groceries, utilities, and rent.
What’s Changing? A Breakdown of Age Pension and JobSeeker Increases
1. Age Pension
The Age Pension is the most significant welfare payment for Australians over the age of 67, helping millions of seniors maintain their standard of living post-retirement. The pension rates are indexed twice a year to reflect changes in the Consumer Price Index (CPI) and Pensioner and Beneficiary Living Cost Index (PBLCI).
Starting from 20 September 2024:
- Single recipients will receive an additional $28.10 per fortnight, bringing their total to $1,144.40.
- Couples (combined) will see a total increase of $42.40 per fortnight, bringing their new combined payment to $1,725.20.
These adjustments are designed to offset the effects of inflation, which saw the cost of living rise by around 2.6% over the past six months.
2. JobSeeker Payment
The JobSeeker payment, a crucial support for unemployed Australians, will also receive a boost. Indexation increases occur every March and September, aligning payments with inflationary pressures. From September 20, 2024:
- Single recipients without children will see their payment rise from $762.70 to $778.00 per fortnight—an increase of $15.30.
- Single recipients with children or aged 55 and over will receive an increase of $16.30, bringing their total to $833.20.
- Those with partial capacity to work will be moved to a higher JobSeeker rate, benefiting from an extra $71.20 per fortnight.
These changes come as the government works to address growing unemployment benefits, with a special focus on Australians who may face more barriers to re-entering the workforce.
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Other Payment Increases
Alongside the Age Pension and JobSeeker increases, other Centrelink benefits will also see changes:
- Carer Payment and Disability Support Pension will both increase by $28.10 per fortnight for singles, bringing their total payment to $1,144.40.
- Commonwealth Rent Assistance, a crucial aid for Australians struggling with housing costs, will see a 10% increase in maximum rates, adding an extra $23.00 for singles renting on their own.
Why Are These Changes Happening Now?
These increases come at a time when Australians are dealing with skyrocketing inflation. With grocery prices, housing costs, and utilities surging, the government’s indexation is part of a broader effort to help vulnerable populations keep up with rising living expenses. In the 2024 Budget, the Albanese Government highlighted its commitment to supporting Australians by:
- Freezing social security deeming rates, ensuring that part-rate pensioners aren’t penalized for having minimal savings.
- Increasing Commonwealth Rent Assistance to help combat Australia’s housing affordability crisis.
Frequently Asked Questions (FAQs)
1. When will I see the new payment amount in my bank account?
The increases will take effect from 20 September 2024, but you might not see the full increase in your first payment. Payments are made fortnightly and paid in arrears, meaning your initial payment could be slightly lower. By October, however, the fully indexed rate will be applied to your payments.
2. How often do these increases happen?
Centrelink payments like the Age Pension and JobSeeker are adjusted twice a year—in March and September—to reflect changes in the Consumer Price Index (CPI) and Pensioner and Beneficiary Living Cost Index (PBLCI).
3. Can I apply for Commonwealth Rent Assistance if I’m not already receiving it?
Yes, if you meet the eligibility criteria, which generally include being a recipient of an income support payment and paying rent above a certain threshold. You can apply for Rent Assistance through your myGov account or by contacting Services Australia.
4. How do these increases compare to previous years?
The September 2024 increases are among the highest in recent years, with Age Pension recipients receiving an extra $28.10 (singles) and $42.40 (couples) per fortnight. This rise is a reflection of inflation trends, which have outpaced wage growth and significantly impacted household budgets.
