12th Sep 2017

Age Pension increases – 20 September 2017

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Leon Della Bosca

In accordance with indexation, Age Pension payment rates will increase as of 20 September 2017, but today, we can help you find out if you’ll receive more money as a result.

From 20 September 2017, the following pension payment rates will apply:

Maximum Age Pension payment rates

    Previous Current Increase
Single Base $808.30 $814.00 $5.70
  Supplement $65.90 $66.30 $0.40
  Energy Supplement $14.10 $14.10
  Total $888.30 $894.40 $6.10
Couple (each) Base $609.30 $613.60 $4.30
  Supplement $49.70 $50.00 $0.30
  Energy Supplement $10.60 $10.60

Total $669.60 $674.20 $4.60

 

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

$23.00

$23.10

$0.10

Couple separated

$23.00

$23.10

$0.10

Couple (each)

$18.90

$19.00

$0.10


Pension Supplement# minimum amount

 

Previous

Current

Increase

Single

$35.40

$35.70

$0.30

Couple separated

$35.40

$35.70

$0.30

Couple (each)

$26.70

$26.90

$0.20

 

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?





COMMENTS

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Raphael
12th Sep 2017
1:49pm
Good on the government
Generous increases indeed
john
14th Sep 2017
11:24am
Ha ha ha ha .
bob
12th Sep 2017
5:28pm
does not seem to be in line with what the pollies and bureaurocrats helped themselves to.Certainly will not get me a house at Point Piper.
Old Man
12th Sep 2017
5:51pm
Roughly 0.69% increase for a 6 month period, not a fortune but in line with the CPI. Even so, I find it galling that the Minister has to make an announcement when it's an automatic increase and neither he nor his office had any input into it.
Theo1943
13th Sep 2017
12:36am
Yes, in line with CPI but everyone knows that the CPI is not the real increase of the Cost of Living. Pensioners should be paid a proportion of the average wage, as they used to until recently.
Old Man
13th Sep 2017
4:32pm
You're 100% right Theo1943, the items not included in the "basket of goods" that decides the CPI is enormous. Fuel, some fruits and vegetables because they are so volatile and the list is endless. In saying that, the CPI is the only measure until common sense prevails and the "basket of goods" is more sensibly defined.
Theo1943
21st Sep 2017
8:49am
CPI is rubbish. If the "basket of goods" goes up by $5, it goes up by $5 for everyone, not a percentage of your income. Someone on ten times the pension does not eat ten times as much. A percentage increase for everyone just increases the income gap between the poor and the better off. Does the PM have to get 20 baskets of goods when he goes shopping?
musicveg
12th Sep 2017
6:03pm
Seems like a suck up to me, $5.70 is not going to help my mum pay the increase in her rates, they seem to go up all the time, as does rent if you are renting.
AutumnOz
13th Sep 2017
10:58am
Every six months when the pensions go up the rents also rise for those living in public housing and probably also those living in rental accommodation.
I don't understand the pension supplement. If a supplement is needed for those on welfare or the age pension then surely the amount they receive is below the poverty level.
Mez
21st Sep 2017
12:15pm
EXACTLY!
Sampancho
12th Sep 2017
6:10pm
What an insult as usual. The politicians at all levels give themselves massive pay and perks increases and my wife and I will get a lousy $4 a week increase.
They can stuff it!!
AutumnOz
13th Sep 2017
11:01am
Sampancho that is $4 a fortnight each.
I agree it isn't enough extra money for all the fuss that is being made about the increase.
Lucy
12th Sep 2017
6:12pm
More like an insult.
Nan Norma
12th Sep 2017
6:16pm
It is an insult.
Kali-G
12th Sep 2017
6:29pm
The Government should put Aussies FIRST......Not all the immigrants and economic refugees!
Our Governments are so OUT OF TOUCH with ordinary folks......and have NO IDEA how we have to survive..
Yet they give many millions in FOREIGN AID ...$800 Million to Indonesia!!!! which is one of the biggest oil producer...WHY????? TIME TO GET RID OF THESE USELESS POLITICIANS!
musicveg
12th Sep 2017
6:32pm
And that is just the start of wasting money, also not collecting taxes of those multi-nationals that don't pay, wonder if Amazon will actually pay any when they start selling here?
George
12th Sep 2017
8:39pm
Yeah, this pathetic bunch needs to be booted out! Although they didn't create this system. So, boot out Liberals, Labor and Greens, who are all in the same game of keeping pensioners poor while they collect their fancy pensions! Put all current seat-warmers last in preferences at the next opportunity, and hopefully new people with more sense may emerge. That will also limit the seat-warmer MPs from becoming eligible for their fancy pensions for life if they haven't served minimum 8 years.

It makes far more sense to pay full pensions (at say 50% higher than current rate) without asset or income tests, at least for all Aussies who paid taxes here for say 20 years (including their spouses), and tax all income above that. This will drastically reduce Centrelink Admin costs. But, keep tests by Centrelink to avoid incentives for migrants squeezing into the country late just to grab pensions here without having contributed.
George
12th Sep 2017
8:40pm
Yeah, musicveg, agree there's a large pot there waiting to be tapped for all funding needed to pay pensioners properly! Even Labor didn't have the guts to do anything when they were in power, while David Cameron, a Conservative in UK, introduced the Google tax there!
crazy one
13th Sep 2017
3:15pm
It will be the day before they put Aussies first as most of them are not Aussies anyhow and the Greens are the ones that agreeing for all this money to pay out to the Foreign Aid anyhow as they have to much to say as well so get them out and get someone that is going to help the Aussies
Mez
21st Sep 2017
12:16pm
SO TRUE KALI!
TREBOR
12th Sep 2017
6:57pm
Yum - another schooner...
TREBOR
12th Sep 2017
6:58pm
Night on the town.... hit the pokies.... trip overseas..... get those teeth into the fat of the land....
AutumnOz
13th Sep 2017
11:04am
Enjoy your schooner Trebor.
Charlie
12th Sep 2017
6:59pm
This is only an indexation increase to cover rise in prices of food. Six dollars a fortnight max . Save it all for a year and get $144.
old fart
12th Sep 2017
7:24pm
CPI rose 1.8% for last qrt
OAP rose 0.68%
We going backwards as usual
If you drink & smoke, stiff bikkies 5.9% increase
Ausdigga
20th Sep 2017
7:13pm
And after twelve months all we get is 144 bucks ------- Gee ---- thats gross !!
Sorry but it was an open door ;-)
sunnyOz
12th Sep 2017
7:21pm
Whoop-de-do....doesn't even come close to the increase in cost of living. PLUS they are stopping the energy supplement for new aged pensioners.
HKW
12th Sep 2017
7:22pm
FEDERAL politicians are now paid at least $4000 extra a year, and Prime Minister Malcolm Turnbull more than $10,000, from July 1.

http://www.couriermail.com.au/news/federal-politicians-to-get-pay-rises-of-up-to-10000-on-day-penalty-rates-are-cut/news-story/0d3810cbda93e03496d152c09804a2d5
George
12th Sep 2017
8:45pm
Yep, disgusting! See my post above, and let's get rid of these leeches.
I expected at least Turnbull to not take the salary given his massive wealth, just like Trump - as these guys are there for the power and their ego not for what is chicken-feed income by their standards.
LENYJAC
12th Sep 2017
8:03pm
AND OUR ESTEEMED (LEADERS??) GIVE THEMSELVES 12% PAY RISE,,,NOTHING BUT LEECHES,,,
Grey Voter
12th Sep 2017
9:07pm
Hope we can vote them out with our massive grey vote when the time comes.......but then........on second thoughts.....who do we vote in ? They're all the same..........lining their pockets and at the same time making us feel guilty that we have lived perhaps longer than expected......then they go out on the world stage and dish out billions of dollars in foreign aid, billions of dollars on nuclear submarines and war birds in order to be able to respond when UNCLE SAM calls. How criminally stupid to declare we are ready to go to war with North Korea with God only knows how much unimaginable resources this calls for.......but let us look on the bright side....you and me will pocket an extra $4 and will probably be told we should be grateful. Australians let us all rejoice :-)
Lark Force
12th Sep 2017
9:13pm
Yes folks they certainly aren't there to serve our interests. They are there for their masters.

“The liberty of a democracy is not safe if the people tolerate the growth of power to a point where it becomes stronger than their demographic State itself. That is in its essence Fascism -ownership of government by an individual, by a group or by any controlling private power.”
- Franklin D. Roosevelt
Westie
12th Sep 2017
10:32pm
Lark Force - I found your FD Roosevelt quote very appropriate and believe it's quite farcical to bestow us with an increase of about four bucks a fortnight. On the other hand, I have to say publicly that I'm very grateful for the pension I receive - it's my sole source of income apart from a little interest earned from my meagre savings. If only I knew WHEN I was going to die - I could spend a little. Can't take it with me!! However, I don't think we should get too carried away with resentment as we're still the lucky country in so many ways. The 'self entitlement' philosophy is not just adopted by the young !!!!!
Skittles
12th Sep 2017
11:32pm
An extra $2 a week whoopy do da, if hubby and I save this we can have a coffee EACH! once a fortnight when we stop at the shops- our one extravagance, instead of sharing one. What a laugh, what an insult.
Mad as hell
20th Sep 2017
7:19pm
Whoopy! exactly what the Mrs said haha. Bring on the next election.
floss
13th Sep 2017
10:11am
Till we stop our forced population increase and stop foreign aid to countries that hate our guts where will the money come from for a pension rise.We have sold our country and when that money is wasted where do we go from there.I hope a change of government will help but don't hold your breath as it will take a long time to reverse the damage done in the last three years.
Mez
21st Sep 2017
12:28pm
I think that you are correct!
neil
13th Sep 2017
11:40am
Foreign aid is forward defence, get it? To those that need help it can be the difference between life and death, Australia is an extremely wealthy country and can easily afford more foreign aid as well as a decent pension for us.
Neil.
Eyesopen
14th Sep 2017
8:37am
The problem is this government doesn't have money to give away. Many people don't realise they loan money to give away in foreign aid. Now we are over 700 billion dollars in debt. How are they ever going to pay that off? Not so good for us or future generations.
MITZY
13th Sep 2017
12:35pm
New single age pension currently works out at 0.43452054794 CENTS per day over a 12 months period from 20/9/17. However, we will get another meagre increase 20/3/18 to boost it a little more!! What are the pensioner advocate groups doing on our behalf?
Maybe we should get our advocates to approach the government MPs' advocates, they seem to be doing a better job for MPs!
nan4
13th Sep 2017
12:51pm
AS ALWAYS WITH THE GOVERNMENT,MY TUMMY AND LIFE STYLE BEFORE YOU POOR MEASLEY PENSIONERS.
crazy one
13th Sep 2017
3:10pm
It has been like this all the time where the government looks after themselves and not the people as they think that their pension should be higher because they sit on their back side having a go at each other and wasting money on other stupid things that does not work or promise the people that electricity or gas will not go up in price and as we know it is hard to hear with them sitting on their backside muffling every thing they say.
Maggie ( SA )
13th Sep 2017
4:08pm
Better than nothing!
Young Simmo
20th Sep 2017
11:21pm
What are you talking about Maggie ( SA )? That is nothing.
JOHN T
13th Sep 2017
4:33pm
This Government is so out of touch they waste millions of dollars on a postal and then add insult to injury by giving pensioners $4.60 per week rise to pensioner couples and also selling out the young generation by backing coal fired power stations instead of asking quotes to investors of alternative power to come back with viable alternatives
floss
13th Sep 2017
6:19pm
NEIL aid is often a bribe and never reaches the poor people that it is meant for,if it did would donate more.
Jim B
14th Sep 2017
1:26am
I feel guilty. I do no work, sit on my behind all day watching 20 channels on TV, trolling forums on my computer and playing guitar ....... and I get paid the age pension every fortnight. AND, the money increases twice a year. I feel like a millionaire. Whooohoooo!!!!!

Move to Broken Hill folks. You can own your own home for $50,000 (that's what I paid for my lovely little house). So I pay no rent, no mortgage, have no debts whatsoever, and electricity and water rates and council rates are cheap as chips out here (and all subsidised). I'm actually saving money on the age pension.

Yep, the age pension is fantastic. If only that bloody dog next door would stop barking ... woof, woof, woof, woof, woof, woof, woof, woof, woof, woof, woof.
bookwyrm
15th Sep 2017
12:46am
That's strange, I've been considering moving to Broken Hill the last couple of weeks because a friend told me the houses were so cheap there. I'll be getting a modest inheritance in six months or so, enough to buy a cheap house there. However, I am heat intolerant, I would have to have the air-conditioning on all summer. That puts me off a bit.
Jim B
15th Sep 2017
7:11pm
It's really hot here in summer 40 plus week after week. But at least it's not a humid heat. Winter can be really cold too. April, May, September, October are the only bearable months for weather (and sometimes March, November) ..... you'll need the heater or cooler on most other times. It's a really safe town, lots of people, lots of services, 2 big Coles/Wollies supermarkets, 12 hour drive to Melbourne, 6 hour drive to Adelaide. I got a rare bargain for my house, but you can usually get a livable, very passable house at a final price of around $80,000 (usually advertised for up to $95,000). For $150,000 or more you'll get a well presented, top notch house. The vast majority of houses here are quite old.....but that's ok.
bookwyrm
16th Sep 2017
1:29am
Thanks for the information, Jim B. I went there on holiday for a week 5 years ago. Something to really think about. It would provide security, putting the inheritance ($80,000 to $100,000 dependent on a quarter share of a house being sold) into a mortgage free house for myself and continuing to have the pension as my income. Currently I have no assets, so it would be my only chance to become a house owner.
Mez
21st Sep 2017
12:24pm
Well done!
Bonny
14th Sep 2017
7:17am
Just wait untili everything starts to fall in value taking the OAP with it.
Rainey
16th Sep 2017
2:02pm
The OAP has been falling in value for many years, Bonny. The buying power reduces almost daily. But I agree that when prices start to fall, we are all in real trouble - INCLUDING the arrogant well-to-do who somehow think they are exempt from any pain. I read ''The Coming Chaos'' in the mid-80s. Scary stuff. So far, the author's predictions have all proved correct, though things happened later than he predicted.
Rae
20th Sep 2017
1:46pm
It won't. We are a sovereign nation with our own currency even if half the place is owned by foreigners. We can simply issue funds to cover pensions. Any GST or tax paid by business simply takes the money back out of the economy. With the amount of money being taken off shore by foreign companies a bit of extra for Main Street from our government would be sensible.
Eyesopen
14th Sep 2017
8:30am
Didn't the pollies just get a 12% pay rise? Why wasn't ours 12% too? That would be fair wouldn't it? Oh well beggars can't be choosers, except at the next election maybe. Now, what shall I do with my massive increase? I might just splash out and buy an ice block once a fortnight now summers coming on.
john
14th Sep 2017
11:28am
Do you ever wonder when a pollie gets up to make an announcement like this , as if he's giving every one a 100 dollars more per pay.
When in fact he's handing out a pittance, these people either have thick skins and really just hope they sound good, or they are rhino skinned blind fools, that actually think the people they affect are the blind fools! We are not.
Crafty
14th Sep 2017
11:12pm
Apparently there has been an influx of people applying for the aged pension. 3 months later, my husband is still waiting. Applied June 17th. He may have to see if he has better luck with Newstart. I wonder how long it takes for immigrants to get the special benefits.
Rainey
15th Sep 2017
11:13am
Lots of those cut off on Jan 1 2017 are now reapplying, having spent down enough capital to qualify under the changed assets test. Stupid move by the government making it more beneficial for many people to save less and draw a part pension rather than existing on investment returns that yield an income well below the level of the aged pension.
Crafty
16th Sep 2017
10:13pm
I guess most people are like us. Worked most of our lives, bought up kids, paid off the mortgage and have very little super pension.
I'd like to spend down some capital, if I had any. Got minimal in bank which we are living on til pension comes through. Painful.
inextratime
20th Sep 2017
12:46pm
Here's a thought. I was made to leave my employment at 68 because I was deemed to be getting too old. I am still able to work but who will employ me ? So how about the govt setting up old age businesses. There are loads of vacant premises partly owned or rented or by the PS that could be used as workshops for the aged, producing product and with all the skills available able to be profitable. All earnings on top of the current pension. No tax on the first $18 grand earned. Needs some thought, which may be a problem for the current incumbents. People would work just to be occupied and worthwhile at the same time supplementing their pension.
Mez
21st Sep 2017
12:19pm
Good idea!
Kenmaur
20th Sep 2017
3:24pm
My pension decreased ,my assets gone down slightly ? Unsure why ?
Joy B
20th Sep 2017
4:21pm
I get $6.10 then my rent goes up by $5.00. I will have to be careful with the extra $1.10.
Mez
21st Sep 2017
12:13pm
A FEW DOLLARS INCREASE IS MERELY A HICCUP, NOT AN INCREASE!

THIS IS ABSOLUTELY DISGRACEFUL AND IS A REFLECTION OF THE CONTINUING LACK OF RESPECT FOR OUR SENIORS!

ABSOLUTELY SHOCKING MR TURNBULL, that is, if you are even aware of it!

SENIORS WILL NOT BE SUPPORTING THE LIBERALS AT THE NEXT ELECTION UNLESS WE GET A SUBSTANTIAL INCREASE .....WITH BACK PAYMENTS.....NOTHING LESS!

We also comprise approximately half of the population so OUR VOTES WILL SPEAK VOLUMES!

I just can't believe how stupid this government is whilst they are padding their pockets doung very little for their retirement pension!

WHERE ARE YOUR MORALS OR SENSE OF JUSTICE?
IN THE GUTTER, I SUPPOSE?


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