Veterans’ pensions will increase by just $8 a fortnight for singles following the latest round of indexation adjustments, the Department of Veterans’ Affairs (DVA) has announced.
As pension rates are calculated on a daily basis, the pension paid on payday March 25 will be paid partly at the old rate and partly at the new rate, the DVA advised.
The first full payment at the new rates of pension will be payday April 8.
The maximum rate of single service pension has risen by $8.40 to $952.70 per fortnight and the maximum rate for couples has increased by $6.30 to $718.10 per fortnight (each).
The Special Rate of Disability Pension (TPI Pension) has increased by $12.90 to $1464.70 per fortnight. Extreme Disablement Adjustment (EDA) has increased by $7.20 to $809.50 per fortnight and the 100% General Rate of disability pension has increased by $4.60 to $520.80 per fortnight. Â
The pension paid to war widow(er)s has increased by $8.50 to $968.90 per fortnight (including the energy supplement), while the ceiling rate of the income support supplement has risen to $286.80 per fortnight.
Payments have also increased for benefits under the Military Rehabilitation and Compensation Act 2004 (MRCA). The weekly MRCA wholly dependent partner payment has increased by $4.25 to $484.45 paid fortnightly.
The indexation factor used to index pensions each March and September can be based on either the Consumer Price Index (CPI), the Pensioner and Beneficiary Living Cost Index (PBLCI) or Male Total Average Weekly Earnings (MTAWE). For 20 March 2021, the indexation was driven by CPI, which is the one that results in the best outcome for veterans.
More information on the new pension rates is available from DVA on 1800 VETERAN (1800 838 372). Current and historical pension rates are available on the CLIK website.
| SERVICE PENSION | Old rate (fortnightly) | New rate (fortnightly) | Increase (fortnightly) |
|---|---|---|---|
| Single person | $944.30 | $952.70 | $8.40 |
| Couples (each) | $711.80 | $718.10 | $6.30 |
| Single person – transitional | $789.30 | $796.30 | $7.00 |
| Couples (each) – transitional | $636.80 | $642.40 | $5.60 |
| WAR WIDOWS | |||
| War widow(er)’s pension | $960.40 | $968.90 | $8.50 |
| Income support supplement | $284.20 | $286.80 | $2.60 |
| DISABILITY PENSION | |||
| T&PI (Special rate) | $1451.80 | $1,464.70 | $12.90 |
| Intermediate rate | $985.80 | $994.60 | $8.80 |
| EDA | $802.30 | $809.50 | $7.20 |
| 100 per cent | $516.20 | $520.80 | $4.60 |
| 10 per cent | $58.55 | $59.01 | $0.46 |
| VETERAN PAYMENT | |||
| Single Person | $1021.80 | $1,031.10 | $9.30 |
| Couples (each) | $796.30 | $803.50 | $7.20 |
| MRCA | Old rate (weekly) | New rate (weekly) | Increase (weekly) |
| Wholly dependent partner payment | $480.20 | $484.45 | $4.25 |
| Special Rate Disability pension (SRDP) | $725.90 | $732.35 | $6.45 |
The first full payment at the new rates will be the payday April 8.
