Pension Changes 20 March 2008

Posted on Jun 23, 2008 in Financial Planning

A number of changes to the pension system will come into effect on 20 March 2008.

More than 3 million Australians will receive increased financial support from Thursday, March 20, 2008.

Utilities Allowance

The Utilities Allowance will increase from $107.20 a year to $500 a year for current recipients and will be extended to all recipients of the Carer Payment, Disability Support Pension, Widow B Pension, Wife Pension and Bereavement Allowance.

Veterans and their partners receiving the invalidity service pension, partner service pension or an income support supplement will also receive the allowance for the first time.

The Utilities Allowance will now be paid in quarterly…