Pensions Up

Good news today for nearly 30,000 Canberrans, who receive an increase in their pensions thanks to twice-yearly indexation. With my colleagues Gai Brodtmann (the member for Canberra) and Senator Kate Lundy, we've put out a media statement providing more details. Full text over the fold.

Pensions to increase on 20 September

Senator for the ACT Kate Lundy, Member for Canberra Gai Brodtmann and Member for Fraser Andrew Leigh today reminded Canberrans that due to indexation, around 29,029 people will receive an increase in their pensions from 20 September 2010.

Pension payments will increase by $15.00 per fortnight for singles on the maximum rate, and $22.60 per fortnight for couples combined on the maximum rate.

Following these increases, total pension payments for those on the maximum rate, including the base rate and pension supplement, will be:

  • $716.10 per fortnight for singles; and

  • $1079.60 per fortnight for couples combined.

“Pensioners in the ACT have received increases of around $115 per fortnight for singles and $97 per fortnight for couples combined in pension payments, as a result of Federal Labor’s major pension reforms delivered in September last year, and higher indexation in March and September 2010,” Member for Canberra Gai Brodtmann said.

“During our first term, we overhauled the pension system to make it adequate for the more than four million Australians who depend on it.

“Local pensioners have been big winners from Federal Labor’s reforms to the pension system, and we are committed to delivering a sustainable pension system,” Member for Fraser Andrew Leigh said.

Pensions are indexed twice a year to the highest increase of three measures: the consumer price index (CPI), the pensioner and beneficiary living cost index (PBLCI), and growth in male total average weekly earnings (MTAWE).

The September 2010 pension rise was driven by movement in the pensioner and beneficiary living cost index in the six months to June 2010.

People eligible for the Age Pension, Disability Support Pension (adult rate), Carer Payment, veteran income support payments, Wife Pension, Widow B Pension and Bereavement Allowance will all benefit from the increases.

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Cnr Gungahlin Pl and Efkarpidis Street, Gungahlin ACT 2912 | 02 6247 4396 | [email protected] | Authorised by A. Leigh MP, Australian Labor Party (ACT Branch), Canberra.