In Australia there are various income support payments that are designed for the residents. The Service Australia issues these payments and sometimes these payments are also known for Centrelink payments. These payments are designed for low income earners, seniors, retirees, children, disabled citizens and many more. Today we will talk about the payment that will be issued to the seniors in Australia. This payment is known as age pension payment. This benefit is delivered to the seniors who are over 67 years old.
The seniors who have low earnings and low assets can get this benefit. On 20th September each year this payment rate for the age pension gets revised and this year also the rate for the age pension gets revised. In this guide we will see Aged Pension Increase Australia 2024. This means that we will see how much raise can be seen in the age pension for the seniors. We will compare the amounts with the previous amounts and see the amount of raise.
Aged Pension Increase Australia 2024
Age pension in Australia is delivered to the seniors. This age pension rates gets revised and also in this year on 20th September 2024 these amounts get revised. This post is only about Aged Pension Increase Australia 2024. This means that in this post we will see the new amounts that become effective from 20th September. Each fortnight these amounts get delivered to the claimants. We will see the fortnightly amounts.
The basic amounts, supplements amounts, energy supplements amounts get revised. This means that each component of the payment amount gets revised. We will see each component’s revised amounts. Also with the amounts the earnings limits and assets limits get revised. But for this post we will only see change in amounts and also we will see the transitional rates changes.
Centrelink Age Pension Update 2024- Overview
| Post Title | Aged Pension Increase Australia 2024 |
| Year | 2024 |
| Name of the Country | Australia |
| Name of the payment | Age Pension |
| Issuing Authority | Service Australia |
| Beneficiaries | Old Age Australians |
| Objective | Financial Support |
| Payment Frequency | Fortnightly |
| Age pension raise effective from | 20th September 2024 |
| Category of the post | Finance |
| Official Page | www.servicesaustralia.gov.au |
Centrelink Age Pension New Amounts
| Rate per Fortnight | Single | Each Couple | Couple Combined | Couple Separated as per ill condition | ||||
| Amounts | Old | New | Old | New | Old | New | Old | New |
| Maximum Basic Rate | $1020.60 | $1047.10 | $769.30 | $789.30 | $1538.60 | $1578.60 | $1020.60 | $1047.10 |
| Maximum Pension Supplement | $81.60 | $83.20 | $61.50 | $62.70 | $123.00 | $125.40 | $81.60 | $83.20 |
| Energy Supplement | $14.10 | $14.10 | $10.60 | $10.60 | $21.20 | $21.20 | $14.10 | $14.10 |
| Total | $1116.30 | $1144.40 | $841.40 | $862.60 | $1682.80 | $1725.20 | $1116.30 | $1144.40 |
Age Pension Transitional Rates Raise
| Rate per Fortnight | Single | Each Couple | Couple Combined | Couple Separated as per ill condition | ||||
| Amounts | Old | New | Old | New | Old | New | Old | New |
| Maximum Basic Rate | $908.80 | $927 | $734.00 | $748.70 | $1468.00 | $1497.40 | $908.80 | $927 |
| Energy Supplement | $14.10 | $14.10 | $10.60 | $10.60 | $21.20 | $21.20 | $14.10 | $14.10 |
| Total | $922.90 | $941.10 | $744.60 | $759.30 | $1489.20 | $1518.60 | $922.90 | $941.10 |
Age Pension Raise 2024
| Rate Per Fortnight | Single | Each Couple | Combined Couple | Couple Separated as per ill Condition |
| Maximum Basic Rate | $26.5 | $20 | $40 | $26.5 |
| Maximum Pension Supplement | $1.6 | $1.2 | $2.4 | $1.6 |
| Energy Supplement | NA | NA | NA | NA |
| Total | $28.1 | $21.2 | $42.4 | $28.1 |
Transitional Rates Raise 2024
| Rate Per Fortnight | Single | Each Couple | Combined Couple | Couple Separated as per ill Condition |
| Maximum Basic Rate | $18.2 | $14.7 | $29.4 | $18.2 |
| Energy Supplement | NA | NA | NA | NA |
| Total | $18.2 | $14.7 | $29.4 | $18.2 |
Fact Check Aged Pension Increase Australia 2024
The Age pension amounts get revised and these rates are revised on 20th September 2024. The new rates are published by Service Australia on their portal and here also we provide change in rates. The provided details in the post are reliable. The new amounts are fully officially available. The normal rates with the transitional rates change is provided in the post. The amounts components like basic amounts and supplement amounts get raised and the energy supplement does not change. We compare both old and new rates and the raise amount is also provided in the post. For the more updates on the new amount for age pension the user can visit the service australia page.
FAQ Related To Aged Pension Increase Australia 2024
The seniors above 67 years can claim for age pension.
On 20th September the amount gets revised.
Expect the energy supplement and all other amount components get revised.
Yes, the transitional rates also get revised.
On the Service Australia portal the new amounts can be checked for the age pension.
