The Government has announced that pension payments for more than 3.6 million Australians are set to rise from the March 20, as part of a twice-yearly indexation process.
A single person who is eligible for the full Age Pension can now expect to receive around $23,096 a year, while a couple can expect $34,819 in yearly entitlements.
For a detailed breakdown of the indexation, view the table below:
Source: Your Life Choices
Age Pension rates are indexed twice-yearly to keep payments in line with inflation. The next adjustment to the rates will take effect from the 20 September 2017.
Is your pension going up?
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