Centrelink Confirms Age & Disability Pension Rise, Know How Much More You’ll Get

In 2024, the Australian government raised the Age Pension and Disability Support Pension (DSP) in two stages to help recipients combat rising inflation and essential living costs. These increases were part of the biannual indexation process, which aligns payment amounts with movements in the Consumer Price Index (CPI) and Pensioner and Beneficiary Living Cost Index (PBLCI).

This decision provided vital financial relief for millions of retirees, people with disabilities, and their carers. As housing, energy, groceries, and healthcare become more expensive, these payment adjustments aim to ease pressure on low- and fixed-income households.

Understanding the Biannual Increases in 2024

The year 2024 saw two separate pension increases, occurring in March and September, each reflecting updated inflation metrics. While the percentage increases might seem modest, they represent meaningful gains for recipients managing tight household budgets.

March 2024 Pension Increase Details

Single Pensioners received an increase of \$19.60 per fortnight, bringing the new maximum payment (including supplements) to \$1,116.30 per fortnight, or around \$29,024 annually.

Couples (Combined) saw their payments increase by \$29.40 per fortnight, reaching \$1,682.80 per fortnight, or \$43,753 per year. Each partner receives \$841.40 individually.

Couples Separated Due to Illness now each receive the single rate of \$1,116.30 per fortnight.

September 2024 Pension Increase Details

The second indexation round brought even larger increases:

• Single Pensioners received an additional \$28.10, bringing their total to \$1,144.40 per fortnight (or approx. \$29,754 per year).
• Couples (Combined) gained \$42.40, with a new total of \$1,725.20 per fortnight (or approx. \$44,855 annually). Each partner now receives \$862.60 per fortnight.
• Couples separated due to illness also received the updated single rate.

Additional Benefits: Rent and Energy Support

On September 20, 2024, the maximum rent assistance increased by 10%, benefiting nearly one million households.

• Singles can now receive up to \$184.80 per fortnight.
• Couples can get up to \$174.00 per fortnight, depending on rent levels.

Energy Supplement

The Energy Supplement continues to be paid:

• \$14.10 per fortnight for singles
• \$10.60 per partner for couples

Eligibility remains limited; not all Commonwealth Seniors Health Card holders qualify.

Payment Dates and How Increases Are Applied

The March 20 increase appeared in payments made from March 23, but the first full increased amount was usually deposited on or around April 6, 2024.

September 2024 Adjustments

The September 20 update reflected in payments from October 3, with the full increase showing from October 17, 2024.

Since payments are calculated daily and made fortnightly in arrears, partial adjustments are common in the first post-indexation payment.

To verify your individual payment schedule, log in to your myGov account, visit Centrelink > Payments and Claims, or call 132 300.

Who Is Eligible for the Age Pension or DSP?

To qualify for the Age Pension:

• Age Requirement: Must be 67 years or older
• Residency: Must be an Australian citizen, permanent resident, or eligible visa holder with 10 years of residency, including 5 consecutive years

Income Test:

• Full pension: Income under \$204/fortnight (single), \$360/fortnight (couple combined)
• Part pension: Income under \$2,436.60 (single), \$3,725.60 (couples)

Assets Test:

• Full pension:
• Single homeowners: Below \$314,000
• Single non-homeowners: Below \$470,000
• Couple homeowners: Below \$566,000
• Couple non-homeowners: Below \$722,000

The Work Bonus allows pensioners to earn \$300 per fortnight from work without affecting their payments, with a \$11,800 income bank for unused bonus amounts.

Disability Support Pension (DSP) Eligibility

To receive DSP, you must:

• Have a long-term medical condition (physical, mental, or intellectual) that prevents you from working at least 15 hours per week
• Provide medical evidence
• Pass the income and assets tests (same thresholds as Age Pension)
• Meet residency requirements similar to Age Pension

Applications can be submitted online via myGov or in-person at Services Australia centres.

Maximising the Pension Increase: Smart Strategies

These pension increases offer a chance to strengthen financial stability. Here’s how recipients can make the most of them:

1. Budget for Essential Expenses

Use the additional income to cover rising grocery, rent, and utility costs. Consider applying your Energy Bill Relief or the \$600 Energy Support Payment toward prepaid electricity or heating bills.

2. Reduce Outstanding Debt

Prioritise repayment of high-interest credit cards or loans to save money on long-term interest.

3. Build an Emergency Fund

Use a portion of the increase to create a savings buffer for unexpected costs such as medical emergencies or home repairs.

4. Access Additional Benefits

Check eligibility for Commonwealth Rent Assistance, Carer Supplements, or Energy Bill Relief (\$300 in 2025).

5. Seek Financial Advice

For personalised help, consult National Debt Helpline (1800 007 007) or resources like Retirement Essentials.

Watch Out for Scams Targeting Pensioners

Increased payments often attract scammers posing as Centrelink agents. In 2024, the ACCC reported a 25% rise in Centrelink-related frauds.

Stay safe with these steps:

• Trust only official domains like servicesaustralia.gov.au or my.gov.au
• Do not share bank details or pay fees to receive indexed payments
• Report suspicious emails, calls, or texts to Scamwatch or Centrelink

What’s Coming in 2025?

The next indexation date is March 20, 2025. Here are the confirmed early figures:

• Singles: Increase of \$4.60, bringing total to \$1,149.00 per fortnight
• Couples (Combined): Increase of \$7.00, bringing total to \$1,732.20

These rates will apply until September 19, 2025, including standard supplements. Pensioners should monitor inflation indices like CPI and PBLCI, which determine the next round of increases.