Age pensioners and Disability Support Pension recipients will receive a $6.10 increase per fortnight to $894.40 for singles and $4.60 a fortnight to $674.20 for each member of a couple.
The payment increase will come into effect as of 20 September 2017.
Newstart recipients will also receive a bump in pay, with increases of $3.20 per fortnight for singles with no children and $2.90 for each member of a couple.
Single Parenting Payment recipients will receive an increase of $4.50 a fortnight.
Minister for Social Services, Christian Porter, said that pension and allowance recipients should benefit from the regular twice-yearly indexation.
“These increases help pensioners and allowance recipients keep up with increases in living costs,” said Minister Porter.
“Rent Assistance rates also increase from next week and a range of income and assets limits for pensions and allowances will also increase as a result of indexation. This includes higher limits to the income and assets test for age pensioners before their payments are affected.
“The amount self-funded retirees can earn to qualify for the Commonwealth Seniors Health Card, which provides access to cheaper medicines and a range of state/territory government and local government concessions increases by $1,003 annually for singles and $802 annually for each member of a couple.”
Keep your eye on your inbox for full details of the pension increases.