The announcement of a $400 increase in the Centrelink Payment for Pensioners is a welcome relief for many retirees in Australia. With the rising cost of living and inflation, this additional support is crucial. Here’s all you need to know about the payment dates, eligibility criteria, and rates.
Payment
The authorities have announced an increase of $400 in the pension plans for retirees to help them cope with the rising costs of living. This boost is intended to assist pensioners who are struggling to cover their basic expenses, including medical bills and daily necessities.
Dates
The $400 Centrelink Payment for Pensioners is scheduled for disbursement on March 20, 2024. Pensioners should monitor their accounts to ensure they receive the payment. Typically, Centrelink payments are issued fortnightly, so there might be a slight delay due to account verification processes.
Eligibility
Approximately 4.7 million people are expected to benefit from this increase. To qualify for the $400 payment, pensioners must meet the following criteria:
- Age: Must be 65 years or older and retired.
- Tax Returns: Must have completed all income tax returns before the deposit.
- Residency: Must be a permanent resident of Australia with proof of residence.
- Spouses: Spouses of Australian citizens can apply if they have a 10-year visa history.
- Survivors/Widows: Eligible to receive the deceased partner’s pension contribution.
- Means and Income Tests: Must qualify based on financial assessments.
Rates
The increased pension will be added to the regular deposit amounts. Here’s a detailed breakdown:
For Individuals
| Particulars | Current Amount | Increased Amount |
|---|---|---|
| Maximum Base Rate | $1002.00 | $31.00 |
| Maximum Pension Rate | $80.70 | $1.40 |
| Energy Supplement | $14.10 | – |
| Total (per fortnight) | $1096.70 | $32.70 |
| Total Annually | $28514.00 | $850.00 |
For Couples
| Particulars | Current Amount (Individually) | Current Amount (Combined) | Increased Amount (Individually) | Increased Amount (Combined) |
|---|---|---|---|---|
| Maximum Base Rate | $755.60 | $1511.40 | $23.40 | $46.80 |
| Maximum Pension Rate | $60.40 | $120.80 | $1.40 | $2.60 |
| Energy Supplement | $10.60 | $21.20 | – | – |
| Total (per fortnight) | $826.70 | $1653.40 | $23.70 | $49.20 |
| Total Annually | $21494.00 | $42988.00 | $642.20 | $1284.20 |
For separated law partners, they will receive the benefits as single individuals from the next payment date after separation.
Application Process
New retirees or those approaching retirement should register for the Centrelink Pension through the following steps:
- Sign In: Access MyGov and link it with Centrelink.
- Payment and Claim: Select “Payment and Claim” from the dashboard menu and choose “Manage Payment” or “Manage Advance Payment” options.
- Form Submission: Fill out the required forms on the same portal.
- Benefit Selection: Choose the type of benefit to claim from the drop-down list.
- Application: Enter the claim amount and apply.
- Confirmation: A successful registration message will be displayed.
News
The increased cost of living in Australia has led to various modifications in allowances, including Jobseeker and Disability Support Pensions. The increased Centrelink payment is expected to be implemented with the next monthly installment. If beneficiaries do not receive the payment in March, they might receive it in September 2024, as the officials transfer the amount biannually.
This $400 increase aims to provide much-needed financial relief to retirees, helping them manage their expenses better in the face of economic challenges.
FAQs
When will the $400 Centrelink Payment be made?
March 20, 2024.
Who is eligible for the $400 Centrelink Payment?
Pensioners aged 65 and above.
What if I don’t receive the payment by the end of March?
It might be delayed due to account verification.
How often are Centrelink payments made?
Fortnightly.
Will there be another payment increase in 2024?
Possibly in September 2024.
