Most social security payment rates will be increased on 20 September as part of the regular, twice yearly indexation process. The Minister for Social Services Amanda Rishworth stated that the September increase is ‘the largest indexation increase to payments in more than 30 years for allowances and 12 years for pensions’. Prime Minister Anthony Albanese tweeted that ‘millions of Australians will see the biggest increase to their pension in 30 years’. This FlagPost explains what an ‘indexation increase’ is and why this 30-year record works to maintain rather than increase the real value of these payments. Read more...
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