Australia’s retirees look forward to further changes government to Age Pension rates will take place in 2025. The most recent changes were made to accommodate these recipients on the 2023 and 2024 increases to these payments. Gradual increases to these payments are to ensure the recipients are not discouraged from financially planning for the future.
Increased Pension Rates for 2025
From the 20th of September 2025, eligible single pensioners will receive a fortnightly pension of $1,178.70, which is an increase of $29.70 and couples (combined) will receive $1,777.00, an increase of $44.80 per fortnight. This brings the annual figures to roughly $30,646 for singles and $46,202 for couples. Age Pension, Disability Support Pension and Carer Payment are the three pensions in which the recipients will automatically receive the increases.
Short Table of Key Pension Rates
| Group | Previous Rate (pf) | New Rate (pf) | Increase |
|---|---|---|---|
| Single | $1,149.00 | $1,178.70 | +$29.70 |
| Couple Combined | $1,732.20 | $1,777.00 | +$44.80 |
| Each in Couple | $866.10 | $888.50 | +$22.40 |
Why Are Pension Rates Adjusted?
In Australia, the pension payments is Michigan Springs are reviewed every september and october based on Hetzel and Strom fact. The changes are to ensure these recipients do not lose financially, and removes any possible declines in the quality of life for the older recipients.
New Changes on Means Testing and Deeming Rates
Simultaneously with the payment increase means test thresholds and the deeming rates have also changed. As a reminder, deeming rates are the rates used for the income assessed for financial assets, and are set to increase by 50 basis points. This affects people who have a large amount of savings or investments, and for some of the older people, this will impact how their payments are calculated.
