The Australian government makes changes in the pension amount twice a year in the months of March and September. These changes are done to keep the financial assistance with the pace of inflation. The cost of living is increasing with the elevated inflation. The government supports the senior citizens for their well being and to live life without financial stress. The Centrelink Age Pension Boost 2024 acts as a safety net for the individuals at the time of financial hardship. The Australian Government agency centrelink takes care of distribution of pensions. Only the eligible persons will receive the age pension in their account. And the amount varies with the status of an applicant. The Centrelink Age Pension Boost Amount 2024 depends upon the various factors like age, marital status, income and assets.
The government changes the age pension check amount depending on the cost of living to cope with the inflation. To know the latest news updates about the Centrelink Age Pension Boost 2024 you can check the official website of Services Australia https://www.servicesaustralia.gov.au/. The Centrelink dispenses the age pension fortnightly. Generally on the 1st and 3rd Monday or Tuesday depending on the scenario. This time the single age pension will be increased by 3.5%.
Centrelink Age Pension Boost 2024
It’s great news for the senior citizens of Australia who are eligible for the Age Pension that the September check amount will be increased by 3.5% for the single pension holder and likewise for the couples. The Australian Government reviews the Pension Payment two times in a year. As the inflation is hitting high and the cost of living is increasing. It is very difficult for the retirees with low income or no income to adjust and maintain their living. The Australian government recently announced the boost in the month of September pension. So that the old people can live their life with dignity. The Centrelink Age Pension Boost 2024 is tax free and the amount may be partial or full. If you are receiving the pension and your other income is under tax slabs then the pension will also be taxable. Not every year your pension amount remains the same; it may increase or Centrelink Age Pension Boost Amount 2024 on the official link of Service Australia. The pension is distributed fortnightly among the individuals.
Overview: Centrelink Age Pension Boost 2024
| Heading | Centrelink Age Pension Boost 2024 |
| Country | Australia |
| Authority | Service Australia |
| Frequency | Fortnightly |
| beneficiaries | Retirees |
| Category | Finance |
| Official website | servicesaustralia.gov.au |
Know the Eligibility To Get Centrelink Age Pension Boost 2024
You must check the eligibility criteria for the Age pension before applying for it. Only the qualified senior citizens will receive the pension in their bank accounts,
- he/she must be at least 67 years old or older
- Must be resident of australia for last 10 years
- You must fulfill the income and assets threshold
Centrelink Age Pension Boost Amount 2024
Twice a year the government of Australia changes Centrelink Age Pension Boost Amount 2024 with the cost of living and inflation. This year the government increased the pension by 3.5%. The government directly transfers the checks in the beneficiaries bank account fortnightly. Usually on the 1st and 3rd Monday of the month. The aim behind releasing the pension fortnightly is to provide financial assistance at the time of financial distress and individuals have some surplus money to save.
| Status | Fortnightly Age pension base rate | Fortnightly Age Pension full Rate | Yearly Age Pension |
| Single | $1020.60 | $1116.30 | $29,028 |
| Couple | $769.30 | $841.40 | $21,876 |
| Combined Couple | $1538.60 | $1682.80 | $43,753 |
Track your Centrelink Age Pension Boost 2024
You can easily track your pension check by following simple steps:
- Login your MYGOV account on the official website of Service Australia https://www.servicesaustralia.gov.au/.
- The click on the Age Pension Boost 2024
- On the new page the status of your age pension will be shown.
FAQs on Centrelink Age Pension Boost 2024
The government of Australia changes the pension amount twice a year i.e in march and september. And the next increased pension will be credited in the month of September 2024. The pension is released fortnightly.
You can track your pension on the official website of Service Australia https://www.servicesaustralia.gov.au/. and open your MYGOV account.
John Wick is a Media and Finance editor, passionate about writing and editing content related to finance and taxes. He has achieved dual degree in Mass Media and Finance From one of the top universities in the World. He is keen to learn new things and changes which take place in the world of Finance and stocks.