According to seniors lobby groups, pensioners need an immediate raise in the base pension rate by $30 a week. Single rate pensioners on $273 a week are having difficulty making ends meet and people are becoming more isolated because they cannot afford petrol. Currently, single full-rate pensioners get $546.80 a fortnight and couples get $456.80 each.
Treasurer Wayne Swan raised the utilities allowance to $500 a year from $107, paid quarterly. Pensioners also got a $400 bonus payment this year.
The Association of Superannuation Funds of Australia estimate that a retired couple needs $508.82 a week to achieve a very modest standard of living. To achieve a comfortable standard of living, a retired couple needs about $939 a week (about $49,000 a year). A single person who wants a comfortable life in retirement needs $702 a week, assuming home ownership.
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