Aussie pensioners to receive $250 bonus within days

Apr 26, 2022
Pensioners to receive one-off $250 bonus within days. Source: Getty

Australian pensioners will see the federal budget’s $250 bonus hit their bank accounts in the coming days, with the first round of payments being issued on Thursday, April, 28.

Pension Concession Card and Commonwealth Seniors Health Card holders are included in the list of six million eligible recipients receiving the tax-free instalment.

Treasurer Josh Frydenberg announced the cash payment during the federal budget on March 29, in a bid to combat the rising cost of living.

“Obviously, it’s been a very trying time for Australians with the pandemic of course and that’s put pressure on the Budget,” Frydenberg said.

“But this Budget is all about easing the cost of living for families now.”

The Treasurer said the relief bonus is intended to only be a “temporary” relief.

In March 2022, the Coalition announced an additional $20 per fortnight boost for pension payments to help cover rising living costs linked to rising product prices and supply chain issues caused by Covid-19, as well as the war in Ukraine.

“Events abroad are pushing up the cost of living at home,” Mr Frydenberg said in his budget speech.

“Higher fuel, food and shipping costs are increasing inflation and stretching household budgets.

“This budget’s new cost of living package is responsible and targeted, delivering cheaper fuel, cheaper medicines and putting more money in the pockets of millions of Australians.”

Minister for Families and Social Services Anne Ruston said the increase was “the largest increase since 2013″.

“Pensioners will see a 2.1 per cent increase to their payments,” she said.

“This is putting money in the pockets of all Australians who rely on our social security system and, in particular, older Australians.

“It gives us a higher weighting to fuel and transport costs in recognition of their significance to pensioners, which helps ensure the rate of the age pension maintains senior Australians’ purchasing power in the economy.”

Opposition Leader Anthony Albanese slammed the increase, telling reporters “the rise in the pension will not keep up with the costs of living”.

“Pensioners are doing it really tough at the moment,” he said.

Services Australia has said eligible applicants don’t need to apply for the one-off payment as it will be automatically deposited into bank accounts.

 

 

 

 

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