From 20 March 2023, the Australian Age Pension will rise by $37.50 per fortnight, for the single person rate.
That results in an annual increase of 7.74% from March 2022.
The inflation rate to Dec 2022 according to the ABS was 7.8%.
Base pension rates are indexed to the higher of the increase in the Consumer Price Index and the Pensioner and Beneficiary Living Cost Index.
The Australian Aged Pension from March 2023.
The Australian Aged Pension is revised in March and September (normally) each year, and the March 2023 new Pension Rates have been released. This pension is paid Fortnightly.
The Age Pension recipients will increase by $37.50 a fortnight for singles, and $28.30 each for members of a couple.
This increase brings the fortnightly rates to:
- $1,064 for singles.
- $802 for each member of a couple.
Australian Aged Pension Rates 2016-2022.
Couples Total Fortnightly Aged Pension rates (each).
- Sep 2022 $773.80 (a rise of $29.40 or 3.99% in 6 months)
- Mar 2022 $744.40 (a rise of $15.10 or 2.07% in 6 months)
- Sep 2021 $729.30 (a rise of $10.20 or 1.42% in 6 months)
- Mar 2021 $719.10 (a rise of $7.30 or 1.03% in 6 months)
- Sep 2020 $711.80 (a rise of $0.00 or 0.00% in 6 months)
- Mar 2020 $711.80 (a rise of $8.30 or 1.18% in 6 months)
- Sep 2019 $703.50 (a rise of $5.40 or 0.77% in 6 months)
- Mar 2019 $698.10 (a rise of $7.40 or 1.07% in 6 months)
- Sep 2018 $690.70 (a rise of $6.60 or 0.96% in 6 months)
- Mar 2018 $684.10 (a rise of $9.90 or 1.47% in 6 months)
- Sep 2017 $674.20 (a rise of $4.60 or 0.69% in 6 months)
- Mar 2017 $669.60 (a rise of $8.40 or 1.27% in 6 months)
- Sep 2016 $661.20 (a rise of $2.50 or 0.38% in 6 months)
- Mar 2016 $658.70
Single Person Total Fortnightly Aged Pension rates.
- Sep 2022 $1,026.50 (a rise of $38.90 or 3.94% in 6 months)
- Mar 2022 $987.60 (a rise of $20.10 or 2.08% in 6 months)
- Sep 2021 $967.50 (a rise of $14.80 or 1.55% in 6 months)
- Mar 2021 $952.70 (a rise of $8.40 or 0.89% in 6 months)
- Sep 2020 $944.30 (a rise of $0.00 or 0.00% in 6 months)
- Mar 2020 $944.30 (a rise of $10.90 or 1.17% in 6 months)
- Sep 2019 $933.40 (a rise of $7.20 or 0.78% in 6 months)
- Mar 2019 $926.20 (a rise of $9.90 or 1.08% in 6 months)
- Sep 2018 $916.30 (a rise of $8.70 or 0.96% in 6 months)
- Mar 2018 $907.60 (a rise of $13.20 or 1.48% in 6 months)
- Sep 2017 $894.40 (a rise of $6.10 or 0.69% in 6 months)
- Mar 2017 $888.30 (a rise of $11.20 or 1.28% in 6 months)
- Sep 2016 $877.10 (a rise of $3.20 or 0.37% in 6 months)
- Mar 2016 $873.90
March 2023 Australian Aged Pension Rates: abcdiamond.com.au/australian-aged-pension-from-march-2022
March 2021 Australian Aged Pension Rates: abcdiamond.com.au/australian-aged-pension-from-march-2021
March 2020 Australian Aged Pension Rates: abcdiamond.com.au/australian-aged-pension-from-march-2020