Millions of Australians relying on Centrelink payments like the Age Pension and JobSeeker will soon see extra money in their bank accounts. This confirmed cash boost comes from the latest indexation adjustments, designed to help combat rising living costs.
What the Boost Entails
The Australian government has locked in increases effective March 20, 2026, affecting over five million recipients. Social Services Minister Tanya Plibersek highlighted that these changes stem from biannual indexation tied to inflation measures like the Consumer Price Index. Full-rate single recipients of the Age Pension, Disability Support Pension, or Carer Payment could pocket an additional $22.20 every two weeks.​
Key Payments Affected
Age Pension holders, numbering around 2.6 million, stand to gain the most from this round. JobSeeker participants, along with those on Parenting Payment, Commonwealth Rent Assistance, and Youth Allowance for adults over 22, will also receive uplifts. These automatic adjustments ensure support keeps pace with everyday expenses such as groceries and utilities.
Payment Increase Table
Here’s a breakdown of estimated fortnightly boosts for major payments based on recent government previews:
| Payment Type | Single Full Rate Increase | Couples Combined Increase | Effective Date |
|---|---|---|---|
| Age Pension | $22.20 | $35.40 | March 20, 2026 ​​ |
| JobSeeker | Up to $15-20 | Up to $25-30 | March 20, 2026 ​ |
| Disability Support Pension | $22.20 | $35.40 | March 20, 2026 ​ |
| Carer Payment | $22.20 | $35.40 | March 20, 2026 ​ |
| Commonwealth Rent Assistance | Varies $44-$88 extra annually | Varies | March 20, 2026 ​ |
Deeming Rates Adjustment
Alongside payment hikes, deeming rates for financial assets will rise, impacting about 771,000 people. The lower threshold moves from 0.75% to higher levels recommended by the Australian Government Actuary, while staying below current cash rates. This tweak aims to balance taxpayer value with fair support for those needing help most.
How and When Payments Arrive
No action is required from recipients; Services Australia will deposit the new amounts directly into linked bank accounts starting March 20. Check your myGov portal post-payment to confirm the update, especially if you have supplementary benefits like energy or pension supplements. Delays are unlikely, but public holidays could shift exact deposit dates slightly.​
Broader Economic Context
This boost arrives amid ongoing cost-of-living pressures, though groups like National Seniors Australia call the rises modest compared to superannuation returns or term deposits. Inflation outpaced the 3.8% adjustment in some views, but it prevents deeper shortfalls for fixed-income households. The government frames it as equitable progress in a tough economy.​​
Next Steps for Recipients
Log into myGov regularly to track changes and report any income shifts that might affect eligibility. While automatic, verifying details ensures you maximize entitlements without surprises. Financial counselors can assist if budgeting the extra funds proves challenging.​
FAQs
When do the payments start?
March 20, 2026, automatically via bank deposit.​
Who qualifies?
Age Pension, JobSeeker, DSP, Carer, and related payment recipients.
Is it taxable?
No, Centrelink payments remain non-taxable income support.​
