Indexation delivers increase in pensions

PENSIONERS and those on social security benefits are set to receive a boost to their hip pockets from March 20.

More than five million Australians will see the payments flow through and help them keep up with the rising costs of living.

The base rate for the age pension will rise by $7.70 a fortnight for a single person to $868.30. On top of that, their supplement will increase by 70c a fortnight to $84.40.

For couples, the pension will increase $11.60 a fortnight to $1309, with their supplement to increase $1 a fortnight to $127.20.

Pension payments are reviewed twice a year, before March and September, and are assessed on an indexation ruling that analyses cost of living and income levels.

The latest indexation rate is 0.9 per cent.

Families and Social Services Minister Anne Ruston said the increases would give recipients extra help with the cost of living expenses.

Another $250 dropped into the bank accounts of five million Australians as part of the federal government’s economic support program.

There were four cash payments during the pandemic totalling $2000 — including two payments of $750 and another two of $250.

“Between these economic support payments and the latest indexation, we are delivering more support to Australians who need it most,” Senator Ruston said.

But National Seniors chief advocate Ian Henschke said the pension increase was “not enough to fix pension poverty for those who are renting”.

DESIGNS for a $2.25m wetland expansion project at Lara have been finalised.

The plan for the Lakelands Reserve is to improve biodiversity and stormwater management and expand the existing wetland by 10,000sq m, Geelong council says.

It would add a wetland on the western bank with household and business stormwater directed through it.

Greater Geelong Mayor Stephanie Asher said the project was the highest priority of its stormwater masterplan.

“We want to protect the Lakelands’ natural features and limit pollutants so the significance of the area can be enjoyed for generations to come,” Cr Asher said.

The council is due to open the project to public feedback later this year when a planning application is lodged.