The Centrelink Pension Plan 2024 is the Age Pension which is provided to the citizens who have reached the certain age limit. Now it has been seen that some Big Changes In Centrelink Pension Plan 2024 have been made. The Age Limit under the Centrelink payment has been increased and the new age limit has now been 67 years. The beneficiaries will be given an increased amount and the benefit is paid either on the fortnight basis. Along with the Age Pension changes, there have been some increases in the Disability Support Pension also. Now to get the complete facts on changes in the Centrelink Pension Plan, you have to go through the article which has been provided below.
Big Changes In Centrelink Pension Plan 2024
The Services Australia has been helping the citizens with the necessary payments under the Centrelink which is the Pension benefit. The payments are being released to help the individuals cope with the rising cost of inflation. The Australia Age Pension is one such benefit which is provided to the individuals of Australia and this is provided by the Services Australia. The Age Pension is a kind of income support to all the beneficiaries who have reached the certain age limit and the new age pension age has been 67 years. This age limit has been increased for the beneficiaries and this tends to be given to all those who meet the asset and income test limits.
The Centrelink Pension Plan may also be given by the Department of Veterans Affairs and the maximum base rate which is given to the citizens is $1020.60 and the pension supplement rate has been $81.60 Both the income as well as the asset test will decide the qualification for the payment. The changes can be seen in the asset test limits as well as the income test limits. The rates after the change along with other necessary changes have been provided in the post given below. You shall refer to the complete article to get the updates on the new Age Pension which the beneficiaries will be given and the marital status will also determine the qualification for the age pension. The payments have been increased by 1.8% for the year 2024 and the ones who have lived in Australia for a period of more than 10 years will be given this benefit.
servicesaustralia.gov.au Age Pension 2024
The Centrelink Age Pension is the amount which is paid to the beneficiaries by the Services Australia if they have reached the certain limit. The payments are said to be increased by 1.8% for the year 2024 and the beneficiaries will be given the Age Pension Benefit amount of $1116.30 in total if they are filing as a single beneficiary.
| Post Title | Big Changes In Centrelink Pension Plan 2024 |
| Organization Name | Services Australia |
| Benefit Given By | Centrelink |
| Benefit Name | Age Pension |
| Country Giving Benefits | Australia |
| Age limits | 67 years |
| Benefit amount | $1020.60 |
| Application mode | Online |
| Frequency of payment | Fortnight basis |
| Benefit mode | Online |
| Post type | Finance |
| Website | servicesaustralia.gov.au |
What In Australia’s Age Pension 2024?
- The Centrelink or the Department of Veterans Affairs has been providing the Age Pension benefit which is to give the standard of living to the beneficiaries.
- All the individuals who are homeless will be given the weekly installment and the amount you will get in each installment is the same.
- The benefit of the Age Pension is given to the beneficiaries at the age of 67 years and the individual marital status will determine the payment.
- In order to get the benefit under the Age Pension, you have to be an Australian Citizen on the date on which you have been making a claim.
- The age limit has been increased from 65 to 67 years and there has been a subsequent increase in the asset and the income test limits for the beneficiaries.
What Is The Change In Age Limit Under Age Pension 2024?
| Birth date between | Pension Age | Date of Change In Pension |
| July 1, 1952 to December 31, 1953 | 65.6 years | July 1, 2017 |
| January 1, 1954 to June 30, 1955 | 66 years | July 1, 2019 |
| July 1, 1955 to December 31, 1956 | 66.6 years | July 1, 2021 |
| January 1, 1957 onwards | 67 years | July 1, 2023 |
Benefit Under Centrelink Pension Plan 2024
| Particulars | Singles and couples not together due to ill health | Each of the couples | Couples combined |
| Maximum base rate | $1020.60 | $769.30 | $1538.60 |
| Pension supplement | $81.60 | $61.50 | $123 |
| Energy supplement | $14.10 | $10.60 | $21.20 |
| Total | $1116.30 | $841.40 | $1682.80 |
Changes In Income Test Limits
- For the single taxpayers, the rate has been increased by $8 which has been $212 from $204.
- For the couples the new rate is $372 which was $360 showing an increase of $12.
- The maximum income which can be earned has also been increased.
Change In Asset Test Limits 2024
| Status | Old Rate | New Rate |
| Single homeowners | $301750 | $314000 |
| Couple homeowners | $451500 | $470000 |
| Single Non-Homeowners | $543750 | $566000 |
| Couples non homeowners | $693500 | $722000 |
FAQs On Big Changes In Centrelink Pension Plan 2024
The age limit as the pension age has been changed from 65 to 67 years.
$1116.30 is the total benefit inclusive of the supplements which the beneficiaries who are the single taxpayers could get.
Yes, these changes have been implemented and the payment is given as per the changes only.