Age Pension increases: 20 March 2020

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In accordance with indexation, Age Pension payment rates will increase as of 20 March 2020, but today, we can help you find out if you’ll receive more money as a result.

From 20 March 2020, the following fortnightly pension payment rates apply:

Maximum fortnightly Age Pension payment rates

     Previous   Current   Increase 
 Single  Base  $850.40  $860.60  $10.20
   Supplement  $68.90  $69.60  $0.70
   Energy Supplement  $14.10  $14.10  —
   Total  $933.40  $944.30  $10.90
 Couple (each)   Base  $641.00  $648.70  $7.70
   Supplement  $51.90  $52.50  $0.60
   Energy Supplement  $10.60  $10.60  —
   Total  $703.50  $711.80  $8.30

The Pension Supplement is paid as part of certain regular fortnightly income support payments to help eligible recipients meet the costs of daily household and living expenses.

Pension Supplement* basic amount

   Previous   Current   Increase 
 Single  $23.90  $24.20  $0.30
 Couple separated   $23.90  $24.20  $0.30
 Couple (each)  $19.70  $19.90  $0.20


Pension Supplement# minimum amount

 Previous   Current   Increase
 Single  $37.00  $37.40  $0.40
 Couple separated   $37.00  $37.40  $0.40
 Couple (each)  $27.90  $28.20  $0.30

Pension Supplement basic is for those receiving a pension while overseas
Pension Supplement minimum is for those paid a pension under the transitional rules

Planning your finances in retirement will help you decide whether you can support your ideal retirement lifestyle with or without the help of the Age Pension. 

And, if you’ve just missed out on a part Age Pension due to your income or assets, indexed thresholds may mean you now qualify, so what are the new rates?

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RELATED LINKS

Age Pension increases: 20 March 2020

How much more Age Pension will you receive?

Age Pension update: increases and changes from 20 March 2020

Changes to the Age Pension that will come into effect on 20 March 2020.

Changes to JobSeeker rates and thresholds

From 20 March 2020, JobSeeker rates and thresholds will be indexed.

Written by Ben

90 Comments

Total Comments: 90
  1. 0
    0

    Wow. $10.90. Now I can afford one packet of toilet paper every fortnight – if I can find one.

    This government is entirely clueless.

  2. 0
    0

    Just don’t spend it all at once. You don’t know what little problem is just around the corner.

  3. 0
    0

    Big deal as usual particularly when your spouse is below pensionable age but is being used to reduce the rate, i.e. half of the married rate.

  4. 0
    0

    Wow. Scotty from Marketing and Freudo the Cruel come through YET AGAIN for the poor and downtrodden. One possible caveat though. I hear you only get the extra 10m bucks or so if you reside in an electorate Scotty & Co want to win or keep!

  5. 0
    0

    It will help me pay for my increase in health care insurance

  6. 0
    0

    Wow I’m off to book me a cruise $3.35 a week ! Their generosity knows no bounds

  7. 0
    0

    If you are in welfare housing you rents will go up by that amount.

  8. 0
    0

    Big whoopy do, pension supplement up a huge 30 cents, can’t have the budget not balanced can they, what a joke this is.

  9. 0
    0

    If you cannot manage on the governments charity I suggest you move to a marginal L.N.P. Electorate, goodies will come before the next election

  10. 0
    0

    Considering that the pension is much better than those stuck on Newstart, I think they really need to get Newstart recipients out of poverty.

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