The Australian government has officially confirmed a pension increase for March 20, 2025, aimed at helping pensioners cope with the rising cost of living.
In addition to higher fortnightly payments, eligible pensioners will receive a one-time $700 Cost-of-Living Cash Boost.
If you’re a Centrelink Age Pension recipient or planning to apply, here’s everything you need to know about the new payment rates, eligibility criteria, and how to claim your benefits.
Centrelink Pension Growth
| Topic | Details |
|---|---|
| Effective Date | March 20, 2025 |
| Single Pension Increase | $19.60 per fortnight |
| Couples (each partner) | $14.70 per fortnight |
| Eligibility | Age 67+, residency, and income/assets test |
| Application | Online via myGov or at Centrelink offices |
| Additional Support | $700 Cost-of-Living Cash Boost |
Understanding
The Centrelink Age Pension is a vital financial support system for retired Australians. The government adjusts these payments twice a year (March and September) to keep up with inflation and living costs.
Why is the Pension Being Increased?
The Consumer Price Index (CPI) and Pensioner and Beneficiary Living Cost Index (PBLCI) determine pension adjustments.
- Rising Costs: Over the past year, electricity, medical expenses, and groceries have increased significantly.
- Government Assistance: The pension increase ensures that retirees can afford daily expenses without financial strain.
New
From March 20, 2025, pensioners will receive higher fortnightly payments:
| Pension Type | Previous Amount | New Amount (March 2025) | Increase |
|---|---|---|---|
| Single Pension | $1,118.40 | $1,138.00 | +$19.60 |
| Couples (each partner) | $1,701.30 | $1,716.00 | +$14.70 |
These increases are designed to help pensioners maintain financial stability in an era of rising living costs.
Who
To qualify for the Age Pension increase, you must meet Centrelink’s eligibility criteria:
1. Age Requirement
- You must be 67 years or older by March 2025.
2. Residency Requirements
- You must be an Australian citizen or permanent resident.
- You must have lived in Australia for at least 10 years, with at least 5 years of continuous residency.
3. Income and Assets Test
The Age Pension is means-tested, meaning your income and assets determine how much you receive.
Income Limits (March 2025)
| Category | Maximum Income Before Pension Reduction |
|---|---|
| Single Pensioner | $204 per fortnight |
| Couples (combined) | $360 per fortnight |
Asset Limits (March 2025)
| Category | Homeowner | Non-Homeowner |
|---|---|---|
| Single | $301,750 | $543,750 |
| Couple (combined) | $451,500 | $693,500 |
If your income or assets exceed these limits, your pension amount may be reduced or cut off.
How
If you are not already receiving the Age Pension, here’s how to apply:
Step 1: Check Eligibility
- Use the Centrelink Payment Finder tool to see if you qualify.
Step 2: Create a myGov Account
- Register at myGov and link it to Centrelink.
Step 3: Gather Required Documents
You will need:
Proof of age (passport or birth certificate)
Residency details (citizenship certificate, visa status)
Financial records (bank statements, superannuation, investment details)
Step 4: Submit Your Application
- Apply online via myGov or visit a Centrelink office for assistance.
Step 5: Wait for Approval
- Processing takes 4 to 6 weeks.
- You will receive a confirmation letter once approved.
Additional
Alongside the pension boost, the government is also providing a one-time $700 Cost-of-Living Cash Boost.
| Who Qualifies? | When is Payment Made? |
|---|---|
| Age pensioners, job seekers, and low-income Australians | March 1, 2025 (automatically deposited) |
This extra support will help cover essential costs such as energy bills, groceries, and healthcare expenses.
The March 2025 Centrelink pension increase provides much-needed relief for Australian pensioners, helping them manage rising living costs.
Alongside the $700 Cost-of-Living Cash Boost, this financial update aims to enhance stability and security for retirees.
To maximize your benefits, check your eligibility and apply through myGov or at a Centrelink office. Staying informed ensures you receive the correct payments and can plan your finances accordingly.
