Centrelink payment rates including the Age Pension, JobSeeker and Parenting Payment will be indexed on March 20. (Source: Getty/AAP)
Millions of Aussies, including those receiving the Age Pension, JobSeeker and Parenting Payment, will see an increase to their Centrelink payments from today. The payments are indexed twice a year in March and September.
Deeming rates will also increase by 0.5 per cent from Friday March 20, meaning the government will assume you earn more on your financial assets. The lower deeming rate will increase to 1.25 per cent, while the upper deeming rate will increase to 3.25 per cent.
Social Services Minister Tanya Plibersek said more than five million people should expect to see a boost to their payments due to indexation.
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“To make sure our social security system delivers value for taxpayers it must be grounded in fairness, which is why we have made responsible adjustments to deeming rates,” she said.
“We’ll continue to make sure the system is there to support those who need it most, ensuring that everyone can make ends meet and no one gets left behind.”
Single recipients will see their maximum payment increase to $1,200.90 a fortnight, an increase of $22.20. This includes the pension and energy supplements.
Couples will see their payment increase to $905.20 each per fortnight, an increase of $16.70.
Singles with no dependents will see their maximum payment increase to $817.50 per fortnight, an increase of $15.10. This includes the energy supplement.
Couples will see an increase to $748.20 each, up $13.80.
Single rate will increase to a maximum $1,066.30 a fortnight, up $19.60. That includes the pension supplement, pharmaceutical allowance and energy supplement.
The partnered rate will increase to $748.20, up $13.80.
Single rates will increase to a maximum $219.40 per fortnight, up $4.
Partnered rates will increase to $206.80, up $3.80.
The complete list of payments increases on March 20, can be found on the Department of Social Services website.
Age Pensioners will also see changes to their income and asset thresholds.
The cut-off income threshold to receive a part pension will increase to $2,619.80 per fortnight for singles, up $44.40. The threshold for couples will increase to $4,000.80, up $66.80.
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The cut-off asset threshold to get a part pension will increase to $722,000 for single homeowners and $980,000 for single non-homeowners, both up $7,500.
For couples, the cut-off will increase to $1,085,000 for homeowners and $1,343,000 for non-homeowners, both up $11,000.
Deeming rates are used to estimate how much income your financial assets would earn as part of the income test. They were previously frozen at lows during the pandemic and increased for the first time in years in September last year.
From March 20, the deeming rate of 1.25 per cent will apply for financial assets under $64,200 for singles and $106,200 for couples combined. Assets over this amount will be deemed at a rate of 3.25 per cent.
Around 771,000 people who receive income support payments have their rate affected by deemed income, as of June 2025. That includes those on the age pension.
National Seniors Australia estimates show the deeming rate increase will largely be offset by the increase to the pension rate.
You don’t need to do anything in response to the changes, the new rates will be applied automatically.
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