Hello Here you will read When is the next $750 payment for pensioners 2023. The number of Seniors who are getting pensions in Australia has to face changes in July 2023. New Rules will come in July 2023. Chief customer officer James Coyle said there are threshold changes, and with this change, more people will qualify for pensions. Here you can read the current rules and changes.
When is the next $750 payment for pensioners 2023 :-
For the pension, eligible pensioners are tested for income and assets. To be eligible for a pension, singles can earn $2318 and couples together can earn $3544.
And next are assets: a single person can have $634,350 worth of assets aside from their home for a pension payment, and couples can have $954,000.
A person who does not have a home must have less than $859,250 in assets and $1,178,500 for a couple to get a pension.
From July 1, many senior citizens who are not eligible because of their assets can claim partial payments.
And senior citizens who are already receiving a pension can receive a full pension.
New Rules Of Pension :
According to new rules, a citizen who was born on or after January 1, 1957, should have reached the age of 67 years to become eligible for a pension.
And for senior citizens who are getting full pensions, their pension remains the same. From July 1, changes will also say that singles can earn $204 a fortnight and couples $360 a fortnight.
Single homeowners can also have about $301,750 worth of assets before their full pension payment is reduced, and single non-homeowners can have $543,000.
A Home-owning couple on a full pension can have $451,500 worth of assets. And before going onto a part payment, or $693,500 for non-homeowner couples,
You can check these rules and get a pension if you are eligible. Many senior citizens become eligible to get a pension.
A pension is one such facility that can be of great help to an elderly person. Many seniors find it difficult to live their lives at this age. It becomes easier for them when they have some kind of pension. They can easily fulfill their small requirements.