The Age Pension, Veteran Payment, Disability Support Pension and Carer Payment will all be increased from 20 September 2023 thanks to indexation.

The maximum rate of the single Age Pension will rise from $1064 to $1096.70 (by $32.70 per fortnight) and for couples from $1604 to $1653.40 (by $49.40 per fortnight).

Chief Advocate Ian Henschke said while people who rely on the Age Pension will welcome the increase, under the current system pensioners are still behind, especially when inflation is unusually high.

Several other government payments will also be increased on 20 September in line with announcements made in the May Budget.

A $56.10 increase for Single JobSeeker recipients raises the base payment to $749.20 per fortnight. It’s kinder for JobSeeker recipients aged 55-59 who are unemployed for more than 9 months, as the payment increase will be $96.10 per fortnight.

A welcome change is the 15 per cent increase to Commonwealth Rent Assistance. The maximum rate for a single renter will rise by $27.60 to $184.80 per fortnight, for a couple by $26 to $174.

“It’s a good start but more needs to be done to help renters,” Mr Henschke said. “We recently heard from a pensioner couple paying $920 a fortnight in rent. This leaves them with only $907.40 a fortnight [$453.70 a week] to pay for food, fuel, utilities, and other expenses.”

Income limits for eligibility for the Commonwealth Seniors Health Card are increasing by $5,400 to $95,400 per annum for singles and by $8,640 to $152,640 for couples combined. With deeming rates frozen for two years, more self-funded retirees could now be eligible for concessions.

“More can be done to support older people doing it tough. As recent National Seniors research showed, a greater proportion of people with low incomes and those who are renting are suffering from cost-of-living pressures,” Mr Henschke said.

“For example, 39 per cent of older renters told us they were experiencing severe cost-of-living impacts compared to only 11 per cent of older homeowners.

“What we need is additional targeted support for people with limited means and to stop punishing those who need to work,” says Mr Henschke

In the Employment White Paper Submission by National Seniors Australia, the government has been called on to simplify the tax and transfer system to boost workforce participation, income and savings.

"We want a change to income test rules for pensioners who want to work and work more. This could be achieved by reducing the taper rate from 50 cents to 32.5 cents in the dollar to align with the tax system. It's simple, fair, will help solve critical workforce shortage, and boost the budget bottom line,” says Mr Henschke, promising to continue to fight for a system that improves people's lives.