Here are the most recent news about the Age Pension, the Disability Support Pension, and the Carer Payment that will go up on July 1, 2024. In Australia, benefits are changed from time to time to make sure that people who are going through tough economic times can get the money they need. Even though inflation has made living costs go up, it has also caused a small rise in government allowances. Here’s what people who are eligible can look forward to this month.
Age Pension to Be increased From 1st July 2024
The elderly and disabled can live with dignity and freedom thanks to social welfare programs that help them with money and important services. Service Australia keeps an eye on these programs and hands out money to people who meet the requirements.
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The amount given depends on the claimant’s situation. The amount of money seniors get from their age income is often used to pay for things like rent, utilities, food, and medical bills. As a result, people who are qualified will get the higher rates of a number of benefits next month.
Authorities in the government, such as Centrelink and Service Australia, created social benefits and programs to help people who meet the requirements and are having trouble paying for their basic needs. Read more of the post to get more information about the new rates for the Age Pension, the Disability Support Pension, and the Carer Payment.
Social Benefit Boost Australia’s Latest Update
As of 2024, the Government has made big changes to the Aged Pension, the Disability Support Pension, and the Carer Payment. These changes are meant to help Australians deal with the rising cost of living.
You don’t have to fill out an application form to get the new rates; the money will be sent to your bank account in July 2024. The Consumer Price Index went up more than expected, which led to inflation of 3.6% by March 2024.
Age Pension Amount Changes 2024
The Age Pension is a program paid for by the Commonwealth Government that makes sure every eligible Australian gets a pension to help with daily costs. Besides the income to cover their daily costs, they can also get money and discounts for medical care, housing, and medicine costs. As of July 2024, here is the amount of your Age Pension that you can expect every two weeks.
| Age Pension | Previous Age Pension Rate | Increase Rate | New Payment Rate |
| For Singles | $204 | $8 | $212 |
| For Couples | $360 | $12 | $372 |
Suppose you have deactivated your previous bank account or registered mobile number. In that case, it is advisable to inform Centrelink regarding the changes so you can receive the payment without experiencing difficulty.
Disability Support Pension Increase 2024
The government of Australia wants to help people who have been sick or disabled for a long time by giving them important financial help. Disability Support is a payment made every two weeks to applicants who are qualified and have a long-term disability that makes it impossible for them to do normal things. Please look at the amount of Disability Support you will get starting in July 2024.
| Disability Support Pension | Previous Rate | Increase Rate | New Payment Rate |
| For Singles Under Age 18 | $1,327 | $8 | $1,335 |
| For Singles Above the age of 18 | $1,448 | $8 | $1,456 |
| For Couples | $3,580 | $12 | $3,592 |
People who depend on social benefits to live will have more money next month, especially retirees, caregivers, and crippled people. The new rates will mean that about 2.4 million people will be able to make bigger payments starting July 1, 2024.
Carer Payment New Rates In July 2024
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The Carer Allowance is money that helps pay for steady care for people who are unable to do it themselves or who need it for medical reasons. By raising the payment amount, the Australian Government is doing what it needs to do to give the person who gets Carer Allowance more help.
| Carer Payment | Previous Age Pension Rate | New Payment Rate |
| For Singles | $967.50 | $1,020.60 |
| For Couple (Each) | $729.30 | $1,116.30 |
Carer payment typically includes physical help, guidance, supervision, and other services for individuals needing immediate care. Citizens who want to claim the benefits provided by the government need to navigate to the authentic portal of Service Australia and create a MyGov account. Once you have signed, all the recipients must link their MyGov account with Centrelink to receive the timely payment.
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