Millions of pensioners and JobSeeker recipients to enjoy payment increase

The age pension, JobSeeker and other social security payments will soon be boosted by the federal government.

From September 20, the maximum single age pension rate will rise by $14.80 to $967.50 a fortnight, while couples will receive an extra $22.40 combined.

The boost will take the annual pension paid to a single to $25,155 and $37,923 for a couple.

Close to one million Australians receiving JobSeeker and other allowances will also get a 1.4 per cent increase, meaning they will get up to $11.90 extra a fortnight

Pensions and other payments are adjusted twice a year and this will be the largest increase since 2014, the government says.

“We are ensuring pensioners maintain their purchasing power in the economy, which is bouncing back strongly,” Social Services Minister Anne Ruston told The Australian.

“This change puts money in the pockets of all Australians who rely on our social security system and, in particular, older Australians.

There are currently around 2.58 million Australians on the age pension, according to government figures.

756,000 people are on a disability support pension and 977,500 are receiving JobSeeker payments.