The Australian Age Pension increases every year in March and September.
Following the latest release of the cost of living figures from the ABS, it is expected that the maximum Australian Age Pension will increase, in March 2024, by:
Eligibility Age for the Age Pension.
The eligibility age for the Australian Age Pension became 67 years on 1 July 2023.
This means that if you were born on or after 1 January 1957, you must be 67 years old to be eligible for Age Pension.
It began to change … Read the rest
From 20 September 2023, the Australian Age Pension will rise by $32.70 per fortnight, for the single person rate.
That results in an annual increase of 6.82% from September 2022.
The single rate of the Age Pension, with supplements, will increase by $32.70 per fortnight – from $1,064 to $1,096.70… Read the rest
The eligibility age for the Australian Age Pension will become 67 years on 1 July 2023.
This means that if you were born on or after 1 January 1957, you must be 67 years old to be eligible for Age Pension.
From 20 March 2023, the Australian Age Pension will rise by $37.50 per fortnight, for the single person rate.
That results in an annual increase of 7.74% from March 2022.
The inflation rate to Dec 2022 according to the ABS was 7.8%.
Base pension rates are indexed to the higher … Read the rest
SAPTO Offsets and Thresholds for 2022-23
Maximum offset value for the year:
Cut off Threshold at annual income of:
From 20 September 2022, the Australian Age Pension will rise by $38.90 per fortnight, for the single person rate.
That results in an annual increase of 6.1% from September 2021.
The inflation rate to June 2022 according to the ABS was 6.1%.
The … Read the rest
A news headline that will annoy many retired people in Australia.
But…
There are some things wrong with that headline.
Not all retirees will get anything, you must be receiving the Centrelink Aged Pension to qualify.
You must still be working, you cannot be fully … Read the rest
From 20 March 2022, the Australian Age Pension will rise by $20.10 per fortnight, for the single person rate. That is a 3.66% increase from March 2021.
The Australian Aged Pension is revised in March and September (normally) each year, and … Read the rest
Most pensioners will receive their normal pension during short holidays outside Australia. However, anyone who is absent from Australia for a continuous period exceeding 6 weeks, will normally lose some of their pension.
