More than 23,500 aged pensioners in Wide Bay will receive an increase to their payment rates from 20 March 2019, Member for Wide Bay Llew O'Brien announced today.
Mr O'Brien said pension payments, including Age Pension, Disability Support Pension and Carer Payment will increase by $9.90 a fortnight to $926.20 for singles, and by $14.80 a fortnight to $1,396.20 for couples combined.
"Since the Liberal Nationals Government was first elected, we have increased the Age Pension by $117.80 per fortnight for single pensioners and by $177.40 per fortnight for couples combined," Mr O'Brien said.
"We understand the financial pressures faced by the elderly and families in Wide Bay, and it's important to manage the Budget responsibly to provide these increases to help pensioners and allowance recipients keep up with the cost of living."
Individuals receiving Newstart Allowance, Widow Allowance and Sickness Allowance will benefit from an increase of $5.50 a fortnight to $564.50, including Energy Supplement.
Members of a couple will see an increase of $5.00 a fortnight to $509.60 each, including Energy Supplement.
The rate of Parenting Payment (Single) will increase by $7.60 to $788.10 a fortnight, including Pension Supplement and Energy Supplement.
"Rent Assistance rates will also increase from 20 March, as well as a range of income and assets limits for pensions and allowances, which includes higher limits to the income and assets tests for age pensioners," Mr O'Brien said.
"While the Coalition Government is protecting the financial security of older Australians in Wide Bay, Bill Shorten wants to steal their retirement incomes. Labor's Retiree Tax would rip an average of $1,400 in income away from more than 1 million retirees across Australia, including pensioners."
Full details of new rates and thresholds can be found on the Department of Social Services website at www.dss.gov.au/about-the-department/benefits-payments.