Here’s what you’ll get
The twice-yearly Age Pension indexation is due to increase 20 September. This Age Pension increase is much higher than the one that was awarded in March this year ($19.60 for singles and $29.40 for couples). We reported on 8 August our predictions for both singles and couples, and we’re pleased to say they were accurate within a few cents. (The discrepancy is in a slight increase to the supplement, which is not always guaranteed). The table below shows the increases, as confirmed by the Federal Government, including supplements for singles and couples.
20 September 2024 Age Pension increases
The Federal Government have confirmed the new payment rates from 20 September 2024 for recipients of the Age Pension, Disability Support Pension, and Carer Payments. Singles can expect a total increase of $28.10 a fortnight and couples can expect a (combined) total increase of $42.40 a fortnight.
| Per fortnight | Current – Single | Current – Couple combined | 20 Sept 2024 – Single | 20 Sept 2024 – Couple combined |
| Maximum basic rate | $1020.60 | $1538.60 | $1047.10 | $1578.60 |
| Maximum Pension supplement | $81.60 | $123.00 | $83.20 | $125.40 |
| Energy Supplement | $14.10 | $21.20 | $14.10 | $21.20 |
| Total | $1116.30 | $1682.80 | $1144.40 | $1725.20 |
Are thresholds also going up?
Yes they are. The upper (disqualifying) thresholds for both income and assets have increased. This will mean some people that previously just missed out on qualifying might now be eligible for some Age Pension and the accompanying supplements. It’s worth checking on our free Age Pension eligibility calculator how close you are to being eligible. The calculators will be updated it with the new rates and thresholds prior to September 20 and we will alert you before this happens.
Here’s how the income and assets thresholds have changed for the Age Pension.
Pension disqualifying income limits (per fortnight)
| Family Situation – Resident | Previous Amount | 20 Sep 2024 | Increase |
| Single | $2,444.60 | $2,500.80 | $56.20 |
| Couple (combined) | $3,737.60 | $3,822.40 | $84.80 |
| Illness-separated (couple combined) | $4,837.20 | $4,949.60 | $112.40 |
Pension Disqualifying Assets Limits (per fortnight)
| Family Situation – Resident | Previous Amount | 20 Sep 2024 | Increase |
| Single, homeowner | $686,250 | $695,500 | $9,250 |
| Single, non-homeowner | $938,250 | $947,500 | $9,250 |
| Couple (combined), homeowner | $1,031,000 | $1,045,500 | $14,500 |
| Couple (combined), non-homeowner | $1,283,000 | $1,297,500 | $14,500 |
Which other payments will rise?
There are also increases to the income threshold for the Commonwealth Seniors Health Card (CSHC).
These are as follows – and our calculators will be updated to reflect these changes prior to Sept 20.
Commonwealth Seniors Health Cards – Taxable Income Limits
| Family Situation | Previous Amount | 20 Sep 2024 | Increase | |
| Single* | $95,400 | $99,025 | $3,625.00 | pa |
| Partnered (each) | $76,320 | $79,220 | $2,900.00 | pa |
| Couple (combined) | $152,640 | $158,440 | $5,800.00 | pa |
What about rental assistance?
In good news for rents, the Commonwealth Rental Assistance(CRA) has also been increased as follows:
Rent Assistance (for payments under the Social Security Act)
| Maximum Payment | |||
| Family Situation | Previous Amount | 20 Sep 2024 | Increase |
| Single | $188.20 | $211.20 | $23.00 |
| Single, sharer | $125.47 | $140.80 | $15.33 |
| Couple | $177.20 | $199.00 | $21.80 |
| Partnered, illness-separated | $188.20 | $211.20 | $23.00 |
| Partnered, temporarily separated | $177.20 | $199.00 | $21.80 |
| Rent Threshold | |||
| Family Situation | Previous Amount | 20 Sep 2024 | Increase |
| Single | $146.00 | $149.00 | $3.00 |
| Single, sharer | $146.00 | $149.00 | $3.00 |
| Couple | $236.60 | $241.40 | $4.80 |
| Partnered, illness-separated | $146.00 | $149.00 | $3.00 |
| Partnered, temporarily separated | $146.00 | $149.00 | $3.00 |
| Rent Ceiling | |||
| Family Situation | Previous Amount | 20 Sep 2024 | Increase |
| Single | $396.94 | $430.60 | $33.66 |
| Single, sharer | $313.29 | $336.74 | $23.45 |
| Couple | $472.87 | $506.74 | $33.87 |
| Partnered, illness-separated | $396.94 | $430.60 | $33.66 |
| Partnered, temporarily separated | $382.27 | $414.34 | $32.07 |
Deeming Rates
There are no changes to the deeming rates, with current rates remaining frozen until 30 June 2025.
Can we help?
Do these changes raise questions for you? If so, it may help to talk to an Age Pension Specialist? You can do so in a 30-minute consultation which will:
- Assist you with any Centrelink entitlements questions you may have.
- Help you with specific circumstances relating to your Centrelink entitlements
- Provide confidence that you understand Centrelink’s rules and their impact on you.
- Help you understand more about the application process.
Retirement Essentials charges $155 upfront for our consultation discussion.
Does this higher increase help?
With singles about to receive $14 weekly and couples due for $21 combined, these are more generous increases than we have seen for quite a while. Will they make a difference to your household budget?
With groceries, gas , electricity prices so high, plus other payments for outgoings, every fortnight on a pension is tight, usually have very little if anything left over.
This increase will be helpful.
EVERY LITTLE BIT HELPS! Thanks
When they say a couple’s pension, what does that really mean state pensions are not paid as a couple but paid individually?
Michael
Does this mean the lower threshold for asset test is now $484500.
Hi Rod, no the lower threshold to receive the full pension has not been changed in this announcement, only the higher/disqualifying threshold has been increased.
Why are Age Pensioners who don’t pay normal rates when living in their own homes in so-called “retirement villages” (all they pay is a monthly “land rent/body corp fee”) able to get Rent Assistance when they own their own home – basically this is surely a rort to avoid paying rates, they still live in the area and use all the facilities councils provide, yet in effect get their rates paid for them by Centrelink? Meanwhile, many self funded people of pensioner age get nothing because while the income test is fine the asset test is very low!
I am also interested in the pensioners rental assistance when living in your own home in a retirement village. I am on a part pension and I can’t even get full rates concession, only half when in fact I can get full concession on other utilities. There is such unfairness with pension payments especially since having paid taxes all my working life. There are unemployed people who get paid a government income and some have never worked a day in their life, therefore not having contributed and paid working tax.
Aged 70, I’m on a very-long-lived Disability Support Pension and have a lifelong tenancy in a strata complex from a parent’s deceased estate where I will now have to pay a recently-hiked to $1,000+ from ~$950 each quarter for bally maintenance levies etc.; and because I don’t actually own the premises, have had to, now for ~17 years running, always had to pay the full amount of council rates to boot after seeking a but-flatly-refused concession. I’m not sure why it should matter who actually owns the premises when my age pensioner parent always received a 50% concession on the council rates. I also wonder how many other persons are having to persevere in the very same or similar predicament and perhaps are unfortunately forced to have to pay out an even greater amount of money than me? Much-deserved thanks must go to all those toiling at Retirement Essentials for this august website. Well done indeed!
This is why we should all get the pension and lm happy to pay tax if l earn too much because lm self funded as least will be treated the same as other pensioners as we paid our taxes when we worked but saved money and now we get penalised
so when does this increase come into effect as it hasn’t been adjusted on my pension on payment that is due on Ist Oct
Hi Ron, the change takes effect on 20th September so that is when you will see your payments updated.
The payments are over the next two fortnightly payments for me (Single Aged Pension).
$1031.95 September then $1047.10 in October.
the amount my husband gets paid is dependent on the wage amount I report each week. is this going to change. for example when I got a tax cut of $45.00 per fortnight his pension halfed so we lost money.
My wife is employed in low paying childcare and I receive a part age pension based on her income. When she gets a pay rise the amount of pension I receive is reduced. This means we do not receive the full benefit of the much needed pay increase and works to keep us closer and closer to the ever increasing breadline. Govt. needs to look at a more equitable way of calculating the effect if spouse income on pension.
I am living in Dept housing & am apparently not entitled too any of these benefits. Why when we are more judged that because we living in Dept housing should we be subjected too appalling statements like not being applicable.
Probably because you receive the benefit of living in public housing.
Well every time there is a pension rise Dept of housing increases our rent how is that fair
for the last 2 budgets the treasurer has increased CRA to help with Cost of living. however this is a fallacy for social housing tenants. 100% of the increase in CRA is added to the rent. there is no other increase to the pension which compensates the social housing tenant. Private tenants will gain the full CRA increase. this is grossly unfair for some of the most vulnerable people in society who are more affected by cost of living increases.
just shows were not held in as high a regard as young Australians like single parents and students . seems like all the government want is us to pass on .
Over 40 top politicians own over 4hundred n 50millions in property but we struggle to survive ????
Australia sux,good men died for nothing….
You people that vote these millionaire politicians in to parliament are the cause of our homelessness in this country…
Filthy Politicians,are filling there n there kids futures, they don’t care about real Australians
I am on the age pension and get $841.54 a fortnight, my age is 67 in November ill be 68 is this amount correct ?