Australians feeling the pressure from the rising cost of living will feel some relief when government benefits rise in the new year.
More than 936,000 people receiving youth, student or carer support payments will see a six per cent indexation raise from January 1.
Youth allowance payments will increase between $22.40 and $45.60 a fortnight and Austudy payments will rise by $36.20 and $45.60 a fortnight.
Disability Support Pensions for those under 21 will see a $31.10 to $44.90 increase a fortnight and carer allowances will go up to $153.50 a fortnight.
Social Services Minister Amanda Rishworth said the nation’s social security was a safety net that needed continued strengthening.
“Through regular indexation, our payments are adjusted in line with changes in the cost of living to retain their purchasing power,” she said in a statement.
The federal government last raised social payments in September which saw a $40 per fortnight increase to youth and student recipients.
Australians may see some more holiday relief with the Reserve Bank tipped to hold interest rates at their final board meeting of the year later today.
A complete list of indexed social security payments can be found on the Department of Social Services website here.
(9 NEWS)
