Age Pension available under Centrelink Pension Plan 2024 is provided to those citizens who have crossed a certain age limit. Now it has been seen that some major changes have been made in the Centrelink Pension Plan 2024. The most important change is that now the age limit under this scheme has been increased, And now this new age limit is 67 years. With this, the beneficiaries will get more amount than before and this payment will be done on fortnightly basis. Along with the changes in Age Pension, Disability Support Pension has also been increased. To get detailed information about all these changes in Centrelink Pension Plan, you will have to read the article given below.
Big Changes In Centrelink Pension Plan 2024
Services Australia helps citizens by making essential payments under Centrelink, which is a pension benefit. These payments are being given to individuals who are facing the costs of rising inflation. Australia Age Pension is a benefit that is provided to citizens of Australia, And it is delivered through Services Australia. Age Pension is given to all those beneficiaries who have reached a certain age limit, and now this age limit has been increased to 67 years. This increased age limit will be given to all those who satisfy the conditions of income and asset test.
The Centrelink Pension Plan can also be offered by the Department of Veterans Affairs, and the maximum base rate offered to citizens is $1020.60, while the pension supplement rate is $81.60. Your income and asset test will be used to determine whether you are eligible for this payment. Changes can be seen in the asset test limit and income test limit.
Information about the rates and other necessary changes after these changes is given in the article below. You can read this article to get all the updates about the new Age Pension, which will be given to the beneficiaries. Apart from this, marital status of the beneficiaries will also play an important role in deciding the eligibility for this pension. The payment has been increased by 1.8% for 2024, and the benefit will be extended to people who have lived in Australia for more than 10 years.
servicesaustralia.gov.au Age Pension 2024
The Centrelink Age Pension is a payment made by Services Australia to Age Pensioners over a certain age. This amount was increased to 1.8% for 2024, so if you claim sole beneficiary you will benefit from a full-age pension benefit of $1116.30.
| 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?
- Centrelink or the Department of Veterans Affairs provides Age Pension benefits, which aim to provide beneficiaries with a good standard of living.
- People who do not have a place to live will be paid in weekly instalments, and the amount paid in each installment will be the same.
- Age Pension benefit is given to those beneficiaries at the age of 67 years, and the amount of payment will be decided based on their marital status.
- To benefit from this pension you must be an Australian citizen on the day you make a claim.
- Earlier this age limit was 65 years, now it has been increased to 67 years, and along with this the limits of income and asset test for the beneficiaries have also been increased.
What Is 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
- The rate for single taxpayers has increased by $8, from $204 to $212.
- At the same time, the new rate for couples has become $372, which was earlier $360, i.e. it has increased by $12.
- Additionally, the maximum income limit that 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 |
FAQ’s
What are the biggest changes to the Centrelink Pension Scheme 2024?
The age of retirement age has been changed from 65 years to 67 years.
How much benefit can single people receive under the Centrelink Pension Scheme 2024?
$1116.30
Have these changes been implemented in Centrelink Pension Scheme 2024?
Yes