Sunday, 25 September 2011

Funding Boost for Pensioners

I am proud that thousands of Southside pensioners received a further pension increase. 

Here's my media release with further information regarding this funding boost.

Kevin Rudd, Member for Griffith, has welcomed a funding boost for pensioners. 
“I am committed to making a difference for the 14,600 pensioners that live on the Southside” Mr Rudd said.
“In 2009, we delivered an unprecedented increase to the pension because at the time, aged pensioners were really hurting.” Mr Rudd added.
From today single people receiving the maximum rate of age, disability and carer pensions, as well as veterans’ income support recipients, will receive an extra $19.50 a fortnight. Pensioner couples combined on the maximum rate will receive an extra $29.60 a fortnight.
“I am proud to have helped deliver these pension reforms, which has boosted the maximum fortnightly pension by around $148 for singles and $146 per for couples combined” Mr Rudd said.
Mr Rudd added that local pensioners will be among 3.4 million pensioners across the country who will benefit from the increases.
Pensions are now indexed twice a year to the higher increase of two measures: the Consumer Price Index or the Pensioner and Beneficiary Living Cost Index.  Pensions are then compared to the Male Total Average Weekly Earnings benchmark and are increased if necessary to meet the wages benchmark.