220.127.116.11 Pension supplement - description
Prior to 20 Sept 2009, the term pension supplement related to the GST supplement, introduced in 2000, to coincide with the introduction of the GST.
From 20 September 2009, as part of major pension reform, the pension supplement combined a range of supplementary payments and allowances into a single payment for certain pensioners and income support recipients over age pension age. It combined the full value of the GST supplement, PhA, UA and the higher rate of TAL, and the total amount was increased.
Components of pension supplement
Following are components and terms associated with pension supplement (1.1.P.155):
- combined couple rate of pension supplement
- combined couple rate of minimum pension supplement
- minimum pension supplement amount
- pension supplement basic amount
- tax exempt pension supplement.
Act reference: SSAct section 20A Pension supplement rate definitions
How pension supplement is paid
Pension supplement is calculated on a daily basis and is paid fortnightly with the person's pension.
From 1 July 2010, a person may elect to receive the minimum pension supplement amount on a quarterly basis instead of receiving it with their regular fortnightly payments.