A simple and flexible pension
Existing 'add‑ons' to the pension will be rolled into a single new fortnightly Pension Supplement.
Advance pension payments will be increased and made more flexible.
Pension payments will be simpler to understand and available on a more flexible basis, so that pensioners can plan and budget more effectively.
The Government will simplify the existing pension allowances by creating a new fortnightly Pension Supplement.
From 20 September 2009, the existing Goods and Services Tax Supplement, Pharmaceutical Allowance, Utilities Allowance, Telephone Allowance (at the higher internet rate), and increased assistance of $2.49 per week for singles and $10.14 per week for couples combined will be included in the new fortnightly Pension Supplement.
To assist pensioners to meet lumpy costs, from 1 July 2010, pensioners will:
- be able to receive around half of the Pension Supplement quarterly
- have greater access to advance pension payments through an increase in the maximum allowable advance and increase in the number of times they can access advances in a year.
From 1 July 2011, the new fortnightly Pension Supplement will be increased further to include the Carbon Pollution Reduction Scheme household assistance.
