If you receive the Age Pension or Disability Support Pension you will soon notice an increase in your payments.
The Federal Government has confirmed, around 4.8 million pensioners and allowance recipients will get a boost from 20 September.
The fortnightly payment for singles will rise by $8.70 to $916.30, while couples will receive an extra $13.20 a fortnight, taking their payment to $1,381.40.
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In a statement from the Minister for Families and Social Services, it was also revealed there will be higher limits to the income and assets test for age pensioners, before their payments are affected.
Plus, those people who are looking for work and on Newstart Allowance will receive an increase of $4.40 per fortnight for singles with no children, and $3.90 a fortnight each for members of a couple.
“Parenting Payment Single recipients will also receive an increase of $6.10 a fortnight,” Minister Paul Fletcher confirmed in the statement.
“Pension and allowance rates are indexed twice a year to help people keep up with increases in living costs,” Mr Fletcher explained.
“Rent Assistance rates will also increase from 20 September 2018, as will a range of income and assets limits for various payments.”
For more details, head to the Government website.