A boost in pension payments
Boost to pensions
Phil is retired and relies on a full pension while living in his own home. While he volunteers and cares for his grandkids, he is no longer working and does not receive any other income.
From 20 September 2009, Phil will receive an additional $30 a week, increasing his base pension by $1,560 a year.
Phil will also benefit from the simplified pension system and will receive the new Pension Supplement which increases supplementary payments by $129.48 a year.
From 20 September 2009, Phil will receive both payments fortnightly; his total payments, including increases, being $336.68 per week.
As a result of the reforms, Phil will have greater security in his pension and will be able to plan and budget more effectively.
The Government will provide an additional $1,689 a year to full rate single pensioners and $527 a year to full rate pensioner couples (combined). This brings the total value of pension payments for singles to two‑thirds (66 per cent) of the couple combined package, in line with a key finding of the Harmer Pension Review.
Single pensioners
From 20 September 2009 under the new arrangements, full rate single pensioners will receive an additional $32.49 per week through:
- an extra $30.00 per week in the base pension
- an extra $2.49 per week in a new fortnightly Pension Supplement.
Pensioner couples
From 20 September 2009, full rate pensioner couples will receive an additional $10.14 per week in the new fortnightly Pension Supplement.
Single pensioners on the full rate of pension
Pensioner couples on the full rate of pension
