LABOR’S twice-yearly indexation of the Age Pension will result in a welcome boost for pensioners on March 20.
Federal Member for Bendigo, Lisa Chesters, said the increase of $15.70 a fortnight for single age pensioners and $23.80 a fortnight for age pensioner couples will benefit more than 28,700 pensioners in the Bendigo electorate.
The Age Pension is indexed twice each year in March and September.
These indexation arrangements were legislated by the former Labor government when it delivered the biggest increase to the Age Pension in a century.
“This is what the Labor Government put in and I am proud that it is continuing to bring some financial relief to age pensioners,” Ms Chesters said.
“Pensioners have spent their working lives building up this great nation. It’s only right that they have the means to live a good life.
“Further still, any increase to the pension will be spent in local shops and this is good news for local traders.”
Ms Chesters called on the Coalition Government to rule out any future cuts to the Age Pension.
“The Abbott government is engaged in a campaign to prepare the community for a round of savage cuts to vulnerable Australians, including people on Newstart, the Age Pension and the Disability Support Pension,” she said.
“Pensioners are doing it tough and the Government should be doing more to assure the community that they won’t be making any cuts to the Age Pension."