In accordance with indexation, Age Pension payment rates will increase as of 20 September 2016, but today, we can help you find out if you’ll receive more money as a result.
From 20 September 2016, the following pension payment rates will apply:
Maximum pension payment rates
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 payments for singles remains the same at $22.70 per fortnight and couples at $18.70 each per fortnight.
Pension Supplement* basic amount
Pension Supplement# minimum amount
* 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. Keep an eye out for our free YourLifeChoices Age Pension guide, which will be in your inbox after 20 September, and will provide you with the information you need to ask the necessary questions about your retirement income.
If you don't receive an Age Pension, from 20 September 2016, Newstart Allowance rates and thresholds will also be indexed. Find out if your payment will be affected
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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