About Retirement Logo 3 Final White About Retirement

Age Pension Increase

Age Pension Increase

Another good news for all pensioners. From mid-March 2021 all recipients of Age Pension will receive an increase of their payments based on indexation to social security payments. 

Considering that Age Pension was not raised in September 2020, the very first time since 1997 that the increase was not implemented. 

Indexing Age Pension is one of the regular mechanisms, built into social security system to ensure rates of Age Pension payments reflect the increase of cost of living. 

What is the increase for social security payments? 

  • Singles – increase of $8.40 per fortnight – bringing the total to $952.70
  • Couples – $12.60 per fortnight – total $1,436.20 combined 

Those total payments include the Pension Supplement and Energy Supplement 

Who is eligible?

If you receive any of the following payments, you are also eligible for the increase:

  • Age Pension
  • Disability Support Pension
  • Carer Payments 

Although those increased payments and return to continue with established indexation has been welcomed by many, the Australian Council of Social Service says the rate is still inadequate and should be amended to be more generous.  

Another great news for pensioners is the extra stimulus payment of $250. Read more

Say Hi on Social

Interesting Read

13 Financial Mistakes We All Make

ebook-cover About Retirement

Client’s Testimonials

Katherine has been a lifesaver for my Husband and I.

Vicki & Ray Allen

My Aged Care Avatar! Katherine has aided me both emotionally and financially.

Ella Maynard

Katherine Isbrandt has been my Financial Advisor for nearly 16 years..

Margaret Lord

For me, the nickname I gave her back then of ‘Wonder Woman ‘ still stands!

Andrew Banks Wainwright

More Great Read

12 Principles of Investing

Principles of Investing

A tiny request: if you liked this article, please share it

Most people don’t share articles, thinking that one share will not make a difference, but believe when I say, each article takes hours of putting it together, and I create them as I really want to make a difference in people’s lives.

So thank you so much for your support. Not only you will seriously help this blog to grow, but more importantly you will help people who might need this information and advice.

Some great suggestions how you can share it:

  • Pin it!
  • Share it on Facebook
  • Tweet it
  • Email to your friends and colleagues

It won’t take any more than 10 sec, as I’ve created all share buttons here for your convenience 😊

Just pick your favourite button from the left side of this post, write your note and it’s done. THANK YOU

What Happens to Your Super When You Die

What Happens to Your Super When You Die

What Happens to Your Super When You Die What Happens to Your Super When You Die For most Australians, superannuation is the second biggest asset we have. It is one of the most used forms of savings for the future, but our super money is sitting in one of the most...

read more

Select More Resources

News

Books

Videos

Calculators

financial mistakes

13 FINANCIAL MISTAKES WE ALL MAKE

 

Where should we send your free copy?

You have Successfully Subscribed!

Pin It on Pinterest

Share This