Centrelink Payments To Increase From March 20 As Indexation Adjustments Take Effect

Australians will receive increased Centrelink payments due to indexation adjustments, starting March 20, providing essential financial relief to those in need, as the country faces rising living costs.

Payment increases

Pensioners will see the biggest boost, with those on the maximum single-rate Age Pension receiving an extra AU$4.60 per fortnight, raising their total payment to AU$1,149.

Couples on the pension will get an additional AU$7 combined, bringing their fortnightly payment to AU$866.10. JobSeeker, which supports 850,000 unemployed Australians, remains the second-largest payment after the Aged Pension, News AU reported.

Other welfare recipients, including renters and single parents, will also see increases. Single recipients will see their payments increase by AU$3.10 per fortnight, while couples will get an extra AU$2.80.

Are annual payment increases falling short?

Over a year, this adds up to AU$72.80 for singles and AU$80.60 for couples -- less than half the average weekly grocery bill in Australia, according to market research.

Despite the modest increase, JobSeeker recipients are still financially better off than they were three years ago. Depending on eligibility, they will receive between AU$3,374 and AU$5,038 more annually, compared to before the Labor government took office.

Single parents, most of whom are women, have seen the largest increase since the last election, gaining at least AU$7,579 more per year. The Albanese government has allocated AU$11.5 billion to strengthening social security across the past two federal budgets.

Final social security increase before election

Social security payments in Australia are adjusted twice a year, in March and September. The upcoming adjustment on March 20 will be the last increase before the next federal election, where the rising cost of living is expected to be a major issue for voters.

Social Services Minister Amanda Rishworth stated that the Albanese government had focused on improving the social security system over the past three years to support Australians at every stage of life.

"Indexation is a critical part of our social security safety net," Rishworth said. "For pensioners and other payment recipients receiving this financial boost, this will help ease some pressure."