$400 Centrelink Payment for Pensioners Coming Soon – Payment Dates, Rates, and Updates

By Ehsteem Arif

Published on:

Anthony Albanese

Good news for retirees in Australia! The authorities have announced an increase in pension payments by $400. This article provides complete details about the $400 Centrelink Payment for Pensioners, including payment dates, eligibility criteria, rates, and the latest news.

$400 Centrelink Payment

The Centrelink authorities have announced an upgrade to pension plans for retirees. Due to inflation and rising living costs, pensioners are struggling to meet basic expenditures. Superannuation, while essential, often falls short of covering daily expenses, especially as individuals age. To address this, the authorities have announced a $400 Centrelink Payment for pensioners.

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Payment Dates

The first installment of the $400 payment is scheduled for 20 March 2024. Payments are generally issued fortnightly. If you do not receive the payment by the end of March, do not panic. The amount may be under process, and many accounts are under verification. You will receive the amount as soon as your account is successfully verified.

Eligibility

To receive the $400 Centrelink Payment, candidates must meet the following criteria:

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  • Be above 65 years old and retired.
  • Have filed all income tax returns before the disbursement of the deposit.
  • Be a permanent resident of Australia and provide residential proof during verification.
  • The spouse of an Australian citizen can apply if they provide 10 years of visa history.
  • Survivors or widows are eligible to receive the benefit, including the deceased’s contribution.
  • Qualify for the means and income tests.

Rates

The increased pension will be added to the regular deposit of beneficiaries. Below are the details for individuals and couples.

Individual Rates

ParticularsCurrent AmountIncreased Amount
Maximum Base Rate$1002$31.00
Maximum Pension Rate$80.70$1.40
Energy Supplement$14.10
Total (per fortnight)$1096.70$32.70
Total Annually$28514$850

Couple Rates

ParticularsCurrent Amount (individually)Current Amount (Combined)Increased Amount (individually)Increased Amount (Combined)
Maximum Base Rate$755.60$1511.40$23.40$46.80
Maximum Pension Rate$60.40$120.80$1.40$2.60
Energy Supplement$10.60$21.20
Total (per fortnight)$826.70$1653.40$23.70$49.20
Total Annually$21494$42988$642.20$1284.20

If law partners are separated, they will receive the benefit as single individuals from the next payment date after separation.

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How to Apply

New retirees or those about to retire should register for the Centrelink Pension. Here’s how:

  1. Sign in to myGov and link it with Centrelink.
  2. Select the “Payment and Claim” option in the menu dashboard, then go through “Manage Payment” or “Manage Advance Payment” options.
  3. Eligible candidates can start filling out the form on the same portal.
  4. Select the type of benefit to claim from the drop-down list.
  5. Enter the amount to be claimed and apply.
  6. The webpage will display a “successful registration” text.

News

With the rising cost of living in Australia, many allowances have been modified, including increases in Centrelink Allowance, Jobseeker Allowance, Disability Support Pension, and the Increased Cost Of Living Allowance. The $400 increase in Centrelink payments is expected to be implemented from the next monthly installment. If beneficiaries do not receive the payment in March, they may receive it in September 2024, as officials transfer the amount twice a year.

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Stay updated on your myGov portal for precise payment schedules and additional support options.

FAQs

When will the $400 Centrelink payment be deposited?

The payment is scheduled for 20 March 2024.

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What is the eligibility age for the $400 Centrelink payment?

You must be above 65 years old and retired.

Do I need to be a permanent resident to receive the payment?

Yes, permanent residency and proof are required.

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How much will couples receive?

Couples will receive a combined increased amount of $49.20 per fortnight.

What if I don’t receive the payment in March?

You may receive it in September 2024 after account verification.

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Disclaimer- We are committed to fair and transparent journalism. Our Journalists verify all details before publishing any news. For any issues with our content, please contact us via email. 

Ehsteem Arif

A tax law expert with a knack for breaking down complex regulations into digestible insights. Ehsteem's articles on the tax news blog offer invaluable guidance to readers navigating changes in tax legislation.

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