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Biggest Pension Change in a Century |
17 September 2009  |
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| Next Sunday, 20th September, the Rudd Government will significantly boost pension payments for Age, Disability, Carer, Wife and Widow B pensioners. |
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| Federal Member for Brisbane Arch Bevis said: “These changes are the biggest improvement to pensions since the age pension was introduced in 1908, over a century ago. |
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| “In the Brisbane electorate, 12,200 pensioners will benefit.” |
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| From 20th September, single pensioners on the maximum rate will receive a total increase of $70.83 per fortnight, bringing their total pension to $671.90. |
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| Couple pensioners combined on the maximum rate will receive an increase of $29.93 per fortnight, taking their payment up to $1,013. (See attached diagram.) |
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| These increases also include indexation under the new Pensioner and Beneficiary Living Cost Index. |
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| This index takes into account the basket of goods pensioners buy, which on this occasion was higher than the Consumer Price Index. |
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| “This will help maintain pensioners’ purchasing power,” Mr Bevis said. |
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| The new payments will be paid into pensioners’ accounts automatically in the fortnight beginning 20th September. There is no need to contact Centrelink to receive the increase. |
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| The reforms will also reduce the impact on pensions from income earned from undertaking some work. |
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| They will also lift the single base pension from 25% of Male Total Average Weekly Earnings to 27.7% as from March next year. |
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Mr Bevis added: “The pension reforms will provide much-needed support to pensioners in Brisbane and ensure that the pension system provides for those in need into the future.”
Total pension payments from 20 September 2009
(full rate, per fortnight)
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Base pension |
Single
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Couple (combined) |
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Current rate (pre-20/9) |
$550.30 |
$919.20 |
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Indexation |
$5.50 |
$9.20 |
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Pension reform increase |
$60.00 |
- |
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Total base pension (post-20/9) |
$615.80 |
$928.40 |
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Pension Supplement |
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Current total value of allowances (pre-20/9) |
$50.77 |
$63.87 |
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Indexation |
$0.33 |
$0.43 |
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Pension reform increase |
$5.00 |
$20.30 |
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Total pension supplement (post-20/9) |
$56.10 |
$84.60 |
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Total pension payments |
$671.90 |
$1,013.00 |
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