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Pension increase to benefit nearly 4m AROUND 3.9 million Australians will receive an increase in their pensions, allowances and supplementary payments following the 2.5 per cent increase in the Consumer Price Index (CPI) for the six months to June 2006.The Minister for Families and Community Services, Mal Brough, and the Minister for Employment and Workplace Relations, Kevin Andrews, announced the newly adjusted rates, which came into effect on September 20. "Every six months on 20 March and 20 September, rates of various adult pensions, allowances and payments, such as Rent Assistance, are indexed in line with the latest CPI increases," Mr Brough said. "As a result, the maximum single rate of pension will rise by $12.40 to $512.10 a fortnight, and the maximum partnered pension rate will rise by $10.50 to $427.70 a fortnight." Generally, the eligible income limits for these payments will also rise, along with the income limits for the Low Income Health Care Card. Since the Government legislated for pension rates to be linked to both the CPI and Male Total Average Weekly Earnings (MTAWE), pension rates have increased by $56.80 more a fortnight for singles and $47.90 extra a fortnight for each partnered person. Had this not applied, pension rates would now be at $455.30 a fortnight, compared to the September 20 rate of $512.10. "Over two million people in receipt of payments, such as Age Pension, Carer Payment, Special Benefit, Maternity Payment, Maternity Immunisation Allowance and Utilities Allowance, will benefit from the increase which will help them with their everyday expenses. "A further 1.9 million people in receipt of entitlements such as Disability Support Pension, Newstart Allowance and Parenting Payment will also receive rate increases," Mr Andrews said. |
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