Exciting news for retirees in Australia! The Centrelink authorities have announced a significant increase in pension payments by $400. This boost is aimed at helping pensioners cope with the rising cost of living.
In this article, we will cover everything you need to know about the $400 Centrelink Payment, including important dates, who is eligible, how the rates will change, and how to apply.
Payment Dates
The first $400 payment is set to be issued on 20 March 2024. Typically, Centrelink payments are made every two weeks.
If you do not see the payment by the end of March, don’t worry. It might be processing or your account might still be under verification. You’ll receive your payment once your account is confirmed.
Eligibility
To qualify for the $400 Centrelink Payment, you need to:
- Be over 65 years old and retired.
- Have submitted all your income tax returns before the payment is made.
- Be a permanent resident of Australia and provide proof of residence.
- If you are the spouse of an Australian citizen, you can apply if you have a 10-year visa history.
- Survivors or widows of Australian citizens can also receive this payment, including the deceased’s contribution.
- Pass the means and income tests.
Rates
The new $400 payment will be added to your regular pension. Here’s how the increased rates will look:
Individual Rates
| Particulars | Current Amount | Increased Amount |
|---|---|---|
| Maximum Base Rate | $1002 | $31.00 |
| Maximum Pension Rate | $80.70 | $1.40 |
| Energy Supplement | $14.10 | – |
| Total (per fortnight) | $1096.70 | $32.70 |
| Total Annually | $28514 | $850 |
Couple Rates
| Particulars | Current Amount (individually) | Current Amount (Combined) | Increased Amount (individually) | Increased Amount (Combined) |
|---|---|---|---|---|
| Maximum Base Rate | $755.60 | $1511.40 | $23.40 | $46.80 |
| Maximum Pension Rate | $60.40 | $120.80 | $1.40 | $2.60 |
| Energy Supplement | $10.60 | $21.20 | – | – |
| Total (per fortnight) | $826.70 | $1653.40 | $23.70 | $49.20 |
| Total Annually | $21494 | $42988 | $642.20 | $1284.20 |
If a couple separates, each will receive the benefit as a single person starting from the next payment date after separation.
How to Apply
New retirees or those nearing retirement should apply for the Centrelink Pension. Follow these steps:
- Log in to myGov and link it with Centrelink.
- Go to the “Payment and Claim” option on your dashboard, then choose “Manage Payment” or “Manage Advance Payment.”
- Fill out the application form on the same portal.
- Choose the type of benefit you are claiming from the drop-down list.
- Enter the amount you want to claim and submit your application.
- You should see a “successful registration” message.
News
With living costs on the rise, several allowances have been updated, including increases in the Centrelink Allowance, Jobseeker Allowance, Disability Support Pension, and the Increased Cost of Living Allowance.
The $400 increase is expected to be applied starting from the next monthly installment. If you don’t receive the payment in March, it may be issued in September 2024, as the amount will be transferred twice a year.
Keep an eye on your myGov portal for the latest updates on payment schedules and additional support options.
1. When will the $400 payment start?
The first payment will be issued on 20 March 2024.
2. What if I don’t receive my payment in March?
Don’t worry; it may be processing or your account might still be under verification. You’ll receive the payment once everything is confirmed.
3. Who is eligible for the $400 payment?
You must be over 65, retired, and a permanent resident of Australia. You also need to meet income and means tests.
4. How do I apply for the Centrelink Pension?
Log in to myGov, link it with Centrelink, and follow the steps to fill out the application on the portal.
5. What if I separate from my partner?
If you separate, each person will receive the benefit as a single individual from the next payment date after separation.