Australia’s Age Pension will increase by 2.6% on September 20, 2024 Check details

The federal government has announced significant changes to the Age Pension. Change is being imposed for all pensioners while others that will impact an individual who may need or want to work will impact them.

That is according to the new release update. From 20 September 2024, the Australian government has implemented a 2.6% Australia Age Pension Increase From 20 September 2024 For eligible older Australians.

The government offers a type of income support payment called the Age Pension, which must pass age and residency tests, as well as income and assets tests.

The old-age pension is meant to be a protection system for those who require financial support in the elderly years and qualify under the ⁠2.6% Centrelink Age Pension Increase Eligibility Criteria 2024.

Since all these information are base on rumors only official data is yet to arrive for this increase. In case, you want to obtain correct detail Service Australia is the best option.

Australia’s Age Pension will increase by 2.6% on September 20, 2024

As per the latest news Service Australia is scheduled to provide ⁠2.6% Australia Age Pension Increase On September 20, 2024. It is a program aimed at those age groups above sixty five who in addition to the required Age also meet the rest of the eligibility criteria.

For this your minimum age has to be either sixty five or sixty six and your earnings have to fall within the limit set by Service Australia. To date no official statistics have been published regarding this program.

We are getting all this information through a variety of websites. If you want to check out the most accurate detailing of this subject then you have to go through all official resources of the Australian Government.

2.6% Australia Age Pension Increase September 2024

Program	⁠2.6% Australia Age Pension Increase September 2024
Department	Service Australia
Country	Australia
Year	2024
Month	September
Date	20
Amount to be increase	20%
Benefit Name	Australian Age Pension
Beneficiaries	Low Income retired Seniors
Category	Finance
Website	www.serviceaustralia.gov.au

2.6% Centrelink Age Pension Increase Eligibility Criteria 2024

If you want to receive this advantage of Increase then, you need to meet a number of features of ⁠2.6% Centrelink Age Pension Increase Eligibility Criteria 2024.

• For that, you should have the age of roughly above sixty five years and from then onwards, you will receive this upcoming increased age pension.
• Your Australian citizenship is very much required to get the benefits of these programs; but if you are not the one who has residency in the country for them, the department decides they have to live here for at least 10 years.
• You need to come under that category of people who are low income that means your income also need to come under their guideline which are set by authorities. That valuation depends upon the worth of your assets and total income.

⁠Australia Age Pension Payment Dates 2024

In Australia, the Age Pension is usually paid every two weeks. The following are the salient features of the Australia Age Pension Payment Dates 2024.

D fortnightly Payments which depend on your state and pension schedule, payments are made every two weeks on a specified day.

Generally speaking, all the payments fall on the business day before a public holiday.
You can access the Express Plus Centrelink mobile application, online account with Centrelink, or the Services Australia website to identify your dates of payment.

⁠2.6% Changes in Australia’s Age Pension Rate by 2024

Here is the list of Australian residents for their full Age Pension with expected implementation on September 20th 2024.

• For Single applicant, the amount will be set at $1,116.30 every fortnight or around $29,028 annually).
• For married applicants, it is set at $841.40 every two weeks, which in simple terms translates into $21,876 a year.
• The department has set the amount at $1,682.80 for every two weeks for the benefit of couples, which works out to about $43,753 annually.
• Illness-related divorces yield a Single rate for both parties, $2,232.60 (or around $58,048 yearly).

Fact Check: 2.6% Increase in Australia’s Age Pension on September 20, 2024

From 20 September 2024, the Australian Age Pension will be increased by 2.6% per annum. The maximum fortnightly rate for singles will be increased by $28.10 and will be $1,144.40.

Couples will pay a combined fortnightly rate of $1,725.20, or an increase of $42.40. This change follows the Pensioner and Beneficiary Living Cost Index, which rose 2.6 percent in the last half year, compared with the CPI, which rose 2 percent.

Whatever the data that we have mentioned in this post completely depends on facts only so that we are not responsible for anything about this. If you want to check all official details on this increase then you have to check Service Australia official website only.

FAQs

What percentage increase will be in the Age Pension for September 2024?

This will increase the Age Pension by 2.6% on 20 September 2024.

Is the other government benefit going to go up with the Age Pension?

YES.