Federal Government Stimulus Package For Pensioners 2020

Support for pensioners is on the way with the morrison government expected to announce another cash hand out in next month s budget.

Federal government stimulus package for pensioners 2020. In a keynote address in sydney today prime minister scott morrison is expected to outline a stimulus package that will fast track assistance to age pensioners and small businesses. When one compares the total payments from march 2020 including the stimulus of single age pension to newstart aka jobseeker the jobseeker is 528 10 ahead in accumulative total on the age pensioner up to end of december 2020. Of particular interest to older australians who constantly complain to yourlifechoices about the disparity between current deeming rates and interest rates on offer are the mooted changes.

Aged pensioners will get a one off 750 payment as part of the federal government s stimulus package announced today. Through our response today and the actions we have taken to bring the budget back to balance over the last six and a half years australians can be confident that our nation is one of the best prepared to respond to the economic. Kss 2 000 in stimulus from march 2020 to march 2021 represents the equivalent of an increase in the fortnightly full age pension for single pensioners of 76 92 pf.

Pensioners received 750 stimulus payments in april and june as part of the government s coronavirus support package and mr yates has written to social services minister anne ruston asking for a. 7news can reveal the third stimulus payment will be less than 750 and will likely be delivered around christmas. Changes to the homebuilder program include.

The payment will start to flow into bank accounts from march 31 and will be made to around 6 5 million pensioners social security veteran and other income support recipients said prime minister scott morrison. Labor has been calling on the morrison government to reverse the freeze arguing it is the worst possible time to put the squeeze on the household budgets of seniors and the most vulnerable. Treasurer josh frydenberg vowed to work through the issues facing pensioners in the lead up to the federal budget and made good on his promise tuesday night.

On 29 november 2020 the government announced an extension to the homebuilder program to 31 march 2021. The federal government has just announced two new stimulus payments of 250 for pensioners and commonwealth seniors health card holders in december 2020 and march 2021. The government s economic support package is proportionate timely and scalable to respond to the economic challenges presented by the spread of the coronavirus.