Australia’s retirees have reason to celebrate as the government announces an additional $400 in pension payments through Centrelink. This article covers everything you need to know about the new payment, including key dates, eligibility criteria, payment rates, and the latest updates.
Australia $400 Centrelink Payment for Pensioners
In response to rising inflation and the escalating cost of living, Centrelink has enhanced its pension benefits, providing an extra $400 for retirees. With many pensioners struggling to cover basic living expenses, this increase aims to offer financial relief. Superannuation, the primary source of income for many retirees, often falls short of covering day-to-day needs, including healthcare costs. As these expenses grow with age, the additional $400 payment is designed to help offset these rising costs.
$400 Centrelink Payment Dates 2024
The first instalment of the $400 payment is set to be deposited on March 20, 2024. Pensioners should monitor their bank accounts for the deposit, as Centrelink typically issues payments on a fortnightly basis.
If some beneficiaries do not receive their payment by the end of March, there is no need for concern. The delay could be due to account verification, and those impacted will receive their payment shortly after their accounts have been successfully verified.
$400 Centrelink Payment Eligibility 2024
This increased payment will benefit an estimated 4.7 million individuals. To qualify, recipients must meet the following criteria:
- Age Requirement: Applicants must be 65 or older and retired.
- Tax Compliance: Applicants must ensure that all income tax returns have been filed prior to the payment disbursement.
- Residency Status: Applicants must be permanent residents of Australia and provide proof of residence during the verification process.
- Spousal Eligibility: Spouses of Australian citizens may also apply, provided they can show a visa history of at least 10 years.
- Widows and Survivors: Widows and surviving partners are eligible for the payment, including the share that would have gone to the deceased.
- Income and Means Test: Applicants must pass the income and means test to qualify for the payment.
$400 Centrelink Payment Rates 2024
The $400 increase will be added to pensioners’ regular payments. The amount received will vary depending on whether the recipient is single or part of a couple. Below are the updated pension rates.
For Individual Pensioners:
| Particulars | Current Amount | Increased Amount |
|---|---|---|
| Maximum Base Rate | $1002.00 | $31.00 |
| Maximum Pension Rate | $80.70 | $1.40 |
| Energy Supplement | $14.10 | – |
| Total (per fortnight) | $1096.70 | $32.70 |
| Total Annually | $28514.00 | $850.00 |
For Couples (Living Together):
| Particulars | Current Amount (Individually) | Combined Current Amount | Increased Amount (Individually) | Combined Increased Amount |
|---|---|---|---|---|
| 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 | $21494.00 | $42988.00 | $642.20 | $1284.20 |
For couples that have separated, each individual will receive the single person’s payment from the next disbursement after their separation date.
How to Apply for the $400 Centrelink Payment
New retirees or those approaching retirement who are not yet registered for the Centrelink Pension should follow these steps to apply:
- Sign in to MyGov: Log in to the MyGov portal and link your account with Centrelink.
- Select Payment Option: From the menu, choose “Payment and Claim” or the “Manage Payment” option, then navigate to Centrelink Pension.
- Complete the Form: Fill out the required form on the same portal.
- Choose Payment Type: Select the type of benefit you are applying for from the drop-down menu.
- Submit Your Claim: Enter the amount you are claiming and complete the application.
- Confirmation: Upon successful submission, you will see a “successful registration” message on the portal.
$400 Centrelink News 2024
As Australia grapples with the rising cost of living, the government has made several adjustments to financial aid programs. These include the Centrelink Pension, Jobseeker Allowance, Disability Support Pension, and the Cost of Living Allowance. The increased payments, including the $400 Centrelink Payment, are expected to take effect from the next scheduled payment cycle.
For those who do not receive the payment by March 2024, the next round of payments may be issued in September 2024, as the government generally transfers these funds twice a year.
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