Senior Australians to receive rise in pension

·

This week’s pensions payday will deliver many senior Australians almost $20 extra per fortnight, and some of them have a chance to turn it into even more money.

According to The Australian, the total age pension will increase by $19.60 per fortnight to $1116.30 for a single person and by $14.70 per fortnight to $841.40 for each member of a couple.

Seniors are being encouraged to seek out every extra dollar they are entitled to, especially in these times when household expenses are high.

Pension rise for millions
Pension rise for millions. Photo: The Australian.

Financial consultant, Theo Marinis claims the vast majority of retirees get at least a partial age pension, and many partial pensioners may receive more in the form of additional income and government incentives and perks.

“There are many things you can do to improve your Centrelink,” Marinis said.

“The effective Centrelink yield on the asset test is about 7.8 per cent. That means that every $10,000 a part pensioner reduced their assets by could result in an extra $780 of pension.”

Source: The Australian

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

How Maih Porfyri’s career pivot took her from fashion to the Paralympics

Maih Porfyri had only been in her job for a few months before she was whisked away on a trip to Paris to cover the Paralympic Games.

My partner doesn’t speak Greek – Can we still raise bilingual kids?

You can absolutely raise bilingual children, even if only one parent speaks Greek. Across the world, countless families do so successfully.

Joint bank accounts: Who gets the money?

All people named in a joint account are privy to the money by Law. Most of us have opened accounts at various bank branches.

Vergina considered among the world’s most mysterious destinations

Featured alongside global wonders, Vergina earns its place through a mystery that has eluded scholars for centuries.

Gender in Modern Greek: Dr Angeliki Alvanoudi to give online seminar

The aim of the seminar is to examine the role of Greek gendered terms in sustaining social gender ideologies that reinforce sexism.

You May Also Like

Greece’s government unveils Strategic Plan for the Greek Diaspora

The presentation of the Ministry of Foreign Affairs' Strategic Plan for the Greek Diaspora 2024-2027 took place on Wednesday, November 6.

First baby born in Lesvos in 2020 was born from family of refugees

The first baby to be born in 2020 on Greece’s island of Lesvos was a boy from a family of Iraqi refugees.

Vatican recounts Pope Francis’ final hours as funeral set for Saturday

Cardinals convened Tuesday for the first time since the death of Pope Francis, announcing that his funeral will be held Saturday.