How much will Australia’s pension and allowance payments increase? Australia is increasing pension and allowance payments through indexation. Here’s what’s changing: How much will a youth allowance increase in 2024 Australia?
For the Age Pension:
- Single individuals will get an extra $38.90 every two weeks.
- Couples will each receive $29.40 more per fortnight, totaling $58.80 extra for the couple.
- So, after the increase, singles will get up to $1,026.50 every two weeks, and couples will get up to $773.80 per person or $1,547.60 for both.
For the JobSeeker Payment:
- Individuals over 22 without children will see a $25.70 increase per fortnight, making their payment $677 every two weeks.
- Single parents will receive $35.20 more per fortnight, making their parenting payment $927.40.
Other Increases:
- Rent Assistance is going up by $5.80 every fortnight for singles with no children (to $151.60) and by $5.40 for couples with no children (to $142.80).
- ABSTUDY recipients over 22 without children will receive an extra $25.70 per fortnight, bringing their payment to $677.
- Disability Support Pension and Carer Payment: Singles will get $32.70 more every fortnight (totaling $1,096.70), and couples combined will see a boost of $49 per fortnight (totaling $1,653.40), including Pension Supplement and Energy Supplement.
$600 For Low-Income Seniors For Cost of Living Payments 2024 Latest Update and Fact Check Hare
How much will a youth allowance increase in 2024 Australia?
The Youth Allowance in Australia is getting its biggest bump in payments since it began back in 1998. Starting January 1, 2023, youth and students will see their payments go up by 6.1%. Here’s what that means: Youth Allowance Australia 2024
Youth Allowance Payments: The increase will differ depending on each person’s situation. Those receiving Youth Allowance will get anywhere from $19.10 to $41.10 more every two weeks. For Austudy recipients, the increase will range from $32.20 to $41.40 per fortnight.
SASSA Payment for February 2024: Child, Old Age, and Disability Grants Coming on Specific Dates