Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

I thank the honourable member for his question. We all know that there are many Australians, not just in Denison but across the nation, that are doing it tough. We know how hard it can be for many of our pensioners and for those who rely on the social welfare safety net. In the 2017 budget, the honourable member will recall, we introduced a one-off energy assistance payment for around 3.8 million Australians. That payment of $75 for singles and $62.50 for each eligible member of a couple was automatically paid to most eligible recipients at the end of the last financial year.

My government appreciates the important economic and social contribution senior Australians make to our economy and have made to building our great nation. The age pension is the single largest area of government welfare expenditure, as it should be. We are a prosperous nation, and we're proud and able to support senior Australians in retirement. Through our targeted welfare system, we provide an important safety net for 2½ million age pensioners, which is 65 per cent of the Australian pension-age population.

On 20 September this year, pensions automatically increased by $6.10 a fortnight for singles and $9.20 a fortnight for couples combined. Since the coalition was elected in 2013, pensions have increased by $86 a fortnight for singles and $129.60 a fortnight for couples. As the honourable member knows, age pensioners have access to additional assistance from a range of other benefits such as concessional pharmaceuticals, a lower Medicare safety net, and rent assistance if they rent privately. As a result of rebalancing the age pension assets test from January this year, around 165,200 pensioners are receiving an average of $25—

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