Sixth pension increase on the way on Tuesday

The Federal Member for Cunningham, Sharon Bird, said today that pensioners will receive their sixth pension increase on Tuesday morning further boosting their incomes.

“I am proud that a Commonwealth Labor Government introduced historic pension reforms in 2009 and a fairer indexation system will see pensioners benefit for the sixth time.

“Single pensioners on the maximum rate will receive an extra $6.70 per fortnight and pensioner couples on the maximum rate will receive $10 per fortnight combined.

“Since 2009, the Commonwealth Labor Government has increased the maximum rate of pension by about $154 per fortnight for a single and about $156 per fortnight for a couple combined.

“Following this latest increase, the total pension payment for pensioners on the maximum rate, including the base rate and pension supplement, are $755.50 per fortnight for singles and $1139 per fortnight for couples combined.

“In May this year, the Government will also increase payments to pensioners and eligible self-funded retirees as part of the Clean Energy Future Package.

“Pensioners will receive an increase of about $338 per year and pensioner couples will receive an increase of about $510 per year combined”, Ms Bird said.

She said that the Liberal-National Party had voted against the increase in pension payments.

“The Liberal-National Party led by Tony Abbott have indicated that they will scrap these increased payments and take them back off pensioners leaving many pensioners at least $300 a year worse off.”