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Pension increases



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News Release

Sharon Bird MP Federal Member for Cunningham www.sharonbird.com.au Telephone: 02 4228 5899

Pension increases

Age pensioners in the Cunningham electorate will receive an increase in their pensions from 20 March 2010, Federal Member for Cunningham, Sharon Bird, said this afternoon.

“Pension payments will increase by $29.20 per fortnight for singles on the maximum rate, and $44.00 per fortnight for couples combined on the maximum rate.

“Following these increases, total pension payments for those on the maximum rate, including the base rate and pension supplement will be $701.10 per fortnight for singles and $1,057.00 per fortnight for couples combined.

“These new rates represent an increase of around $100 per fortnight for singles and around $74 per fortnight for couples combined in pension increases, a direct result of the Commonwealth Government’s pension increases in September and indexation.

“This March pension indexation increase is a reflection of wages growth in the 6-months to December 2009.

“Pensions continue to be indexed twice each year, but following reforms, are linked to the highest increase of three measures: consumer price index (CPI), the pensioner living cost index and growth in male total average weekly earnings (MTAWE).

“Individuals eligible for the Disability Support Pension (adult rate), Carer Payment, veteran income support payments, Widow Pension, Widow B Pension and Bereavement Allowance will all benefit from the increase from 20 March.

“Parenting Payment will also increase from 20 March by $26.80 a fortnight for singles.

“Rent assistance will also increase”, Ms Bird said.

10 March 2010