More than 24,000 local pensioners will receive an increase in their pension to help them make ends meet, Federal Member for Chifley, Ed Husic said today.
From today, local people receiving age, disability and carer pensions, as well as veterans’ income support recipients, will receive a fortnightly boost in their pension as a result of indexation.
“Single pensioners on the maximum rate will receive an extra $6.70 a fortnight, and pensioner couples on the maximum rate will receive an extra $10.00 a fortnight combined,” Mr Husic said.
“As part of our historic pension reforms in 2009, we delivered the biggest increase to the pension in its 100 year history, and this boost gives our local pensioners that little bit extra to help manage their budget.”
Since 2009, Labor has delivered increases to the maximum pension rate of about $154 per fortnight for singles and about $156 per fortnight for couples combined.
Following the latest increase, total pension payments for people on the maximum rate, including the base rate and pension supplement, are:
• $755.50 a fortnight for singles, and
• $1,139.00 a fortnight for couples combined.
Mr Husic said Labor’s reforms to the pension system also delivered a fairer indexation system that ensures the pension keeps up with living costs.
“Labor understands that pensioners have the least room to move in their budgets. That’s why it’s so important that when the cost of living goes up, the pension goes up to match it.
“We’ve delivered for Chifley’s pensioners in Government and we’ll keep delivering to make sure they get the fair go they deserve.”
From May, the Federal Government is also increasing payments to pensioners as part of the clean energy future package.
Single pensioners will receive an increase of about $338 per year, and pensioner couples will receive an increase of about $510 per year combined.
Mr Husic said Tony Abbott and the Coalition voted against this increase, and a Coalition Government would claw it all back.
“Many local pensioners will be more than $300 a year worse off under Tony Abbott.
“As local pensioners look forward to a pension increase today and another boost in the next few months, they will be quite rightly asking Tony Abbott just how much he plans to rip away.
“After a lifetime of work, pensioners deserve a fair go. They deserve to know their pension is being protected, and they deserve better than Toby Abbott’s savage cuts.”