Data reveals Australia’s pensioner hot spots as payments increase $38 a fortnight

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More than 2.5 million Australians on the age pension will receive a boost of up to $38.90 a fortnight from today, when new social security rates kick in.

The change will be particularly welcome in Crowdy Head and Harrington on the NSW coast and Cooloola and Tin Can Bay on the Queensland Coast, where about a third of residents receive the age pension – 34.9 per cent and 32.4 per cent, respectively.

These are the highest rates of any postcode in the country with a population of more than 100 people.

They are followed by Victoria’s 3880 (Paynesville, Ocean Grange, Boole Poole and Raymond Island) with 32.2 per cent of residents receiving the age pension and South Australia’s 5581 (Port Vincent Sheaoak Flat) with 32 per cent.

Meanwhile, Tasmania’s top pensioner postcode is 7209 (Ross, Tooms Lake) with 22.1 per cent, and the Northern Territory’s is 840 (Dundee Beach, Dundee Downs and Dundee Forrest) with 26.7 per cent.

From today, a single person on the full age pension will now receive $1026.50 a fortnight, including the energy supplement, which provides assistance for household expenses such as energy costs.

This is an increase of $38.90 a fortnight.

A couple on the full age pension will each receive $773.80 a fortnight – an increase of $29.40.

Over-50s advocacy COTA chief executive Ian Yates said the large increases demonstrated the strength of the pension indexation arrangements set up in 2019.

“The issue in this indexation is that it’s always retrospective,” he said.

“So this is compensation for the price inflation to the 30th of June, but of course pensioners are still experiencing that inflation now, which is why in the previous government budget there was a one-off pension bonus.

“It would be very hard to index in advance – it would create all sorts of complexities – but we do need to recognise that pensioners are experiencing continuing inflation.”

The age pension payment has jumped by the largest amount in 12 years. Picture: iStock

Mr Yates said COTA’s priority now was to secure increased rent assistance for pensioners.

“Pensioners in the private rental market are probably now worse off than they have ever been,” he said.

As of today, people who qualify for rent assistance will receive between $101.07 and $151.60 a fortnight depending on their household make-up – an increase of between $3.87 and $5.80 a fortnight.

Disability Support Pension, Jobseeker, ABstudy, Parenting Payments and Carer Payments all rise today, too.

In a statement, Social Services Minister Amanda Rishworth said the Federal Government had announced the largest indexation increase to payments in more than 30 years for allowances and 12 years for pensions.

“We want to ensure Australia has a strong social security safety net to protect our most disadvantaged,” she said.