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Earlier pension and benefit rate increases



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Minister for Social Security ° Brian H o w e MP BLH 73 Z89 13 NOVEMBER 1989

EARLIER PENSION AND BENEFIT RATE INCREASES

Pension and benefit rate increases will be paid in November, four weeks earlier than previously, the Minister for Social Security, Brian Howe, said today.

The earlier indexation rises are the first part of the Government's three stage plan, announced in the April Economic Statement, to bring forward indexation adjustments by a total of 12 weeks.

The rise which will be paid later this month has previously been paid in December.

. Pension increases will be paid from 23 November.

- The maximum rate for a single pensioner with no children will rise by $8.80 from $258.40 a fortnight to $267.20 a fortnight.

- The maximum married rate will rise by $14.60 from $430.80 (combined) a fortnight to $445.40 (combined).

. Unemployment, sickness and special benefit rises will be paid from 15 November.

- The rate for a single person who is 21 or over will rise by $8.20 from $241.30 a fortnight to $249.50 a fortnight.

- The married rate will rise by $14.60 from $430.80 to $445.40 a fortnight.

Fringe benefit limits for pensioners will also increase.

- For single pensioners fringe benefits will cut out when income apart from pension reaches $182.00 a fortnight - a rise of $6.00 a fortnight.

- The limit for married couples will be $312.00 a fortnight (combined) - a rise of $12.00 a fortnight.

C O .M M ONW EALTH PARLIAM ENTARY LIBRARY M IC A H

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The next indexation rise will be paid in April next year (previously June), while the final stage of the reform will see adjustments brought forward to September 1990.

From 1991 indexation adjustments will be made in March and September each year, meaning rises will be the speediest in history.

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Media Contact: Jane Smith (062) 77 7560