$987.70 Pension Payment: Managing household expenses as a parent can be tough, especially when raising young children on a limited income. The Australian government offers vital financial support through the Parenting Payment, designed to help parents who are the main carers of their children. Among this support is the $987.70 Pension Payment, which includes a small but helpful $28.30 supplement.
In this article, we’ll explain everything you need to know about the $987.70 Pension Payment. We’ll cover who qualifies, how to apply, how often payments are made, and what other benefits may be available to eligible parents. Whether you’re already receiving support or planning to apply soon, this guide will help you better understand the system.
$987.70 Pension Payment
The $987.70 Pension Payment is the base amount offered under the Parenting Payment scheme for single parents in Australia. This payment is provided fortnightly and is designed to assist with everyday costs related to raising children. It includes an additional $28.30 supplement, which is automatically added to the base amount. Together, these payments offer important financial relief for low-income households.
This benefit is especially valuable to parents caring for children under eight years old, helping them manage costs like food, education, and housing without having to immediately return to full-time work. However, eligibility depends on several criteria, including residency, income, assets, and the age of the youngest child.
Overview Table
| Key Information | Details |
| Pension Payment Amount | $987.70 per fortnight (single parent) |
| Supplement Amount | $28.30 (included in total payment) |
| Eligibility | Australian resident, child under 8, income/assets test |
| Application Process | Via myGov linked to Centrelink |
| Payment Frequency | Every two weeks (fortnightly) |
| Administered By | Services Australia |
| Official Website | servicesaustralia.gov.au |
What is the Parenting Payment?
The Parenting Payment is a government welfare program that supports parents or guardians who are the primary caregivers for their children. It is targeted at families with low income and assets, especially those with younger children. The program helps ensure that parents have financial support to provide for essentials such as school supplies, food, healthcare, and housing.
Currently, the $987.70 Pension Payment is the standard amount for single parents, and the extra $28.30 supplement adds a little more breathing room for families managing day-to-day expenses. While the payment is primarily for single parents, partnered parents may also be eligible, though the amount may vary depending on the combined household income.
Eligibility Criteria for Parenting Payment
To receive the $987.70 Pension Payment, applicants must meet several conditions. These include:
1. Residency Requirements
You must be a permanent resident of Australia and be living in the country when applying for the Parenting Payment.
2. Age of Youngest Child
Your youngest child must be under eight years old. Once the child turns eight, you are no longer eligible for this payment and may need to apply for other benefits, like JobSeeker.
3. Income and Assets
The payment is income- and asset-tested. You will need to report your income, and the government will assess it along with any savings, investments, or property you own. If your income exceeds the threshold, the payment amount may be reduced or stopped.
How to Apply for the Parenting Payment
Applying for the $987.70 Pension Payment is a simple process, and it can be done entirely online. Here are the steps:
1. Create a myGov Account
If you don’t already have one, register at myGov to access various government services online.
2. Link to Centrelink
Once your myGov account is set up, link it to Centrelink. This allows you to apply for benefits directly.
3. Complete the Application
Fill out the application form for the Parenting Payment. Provide accurate information about your family situation, income, and assets.
4. Upload Supporting Documents
Submit identification and any documents showing proof of income, residency, or child dependents. Centrelink may ask for more information depending on your case.
5. Attend an Interview (if required)
Some applicants may be asked to attend an interview to clarify their details. This can be done in person or over the phone.
Once your application is approved, payments will begin according to the next available payment cycle.
Payment Frequency and Dates
The $987.70 Pension Payment is paid fortnightly, meaning you receive the money every two weeks. The funds are directly deposited into your bank account. You can find your upcoming payment dates by checking the official Centrelink calendar or logging into your myGov account.
Keeping track of your payments can help you plan your budget, pay bills on time, and avoid financial stress.
What is the $28.30 Supplement?
Included in the Parenting Payment is a $28.30 supplement, which offers a little extra support to parents. This supplement is automatically added to the total $987.70 payment and is not a separate application.
It’s intended to help with the growing costs of raising children and can be especially useful for covering school-related expenses or medical needs. Though small, it can be a meaningful part of a family’s financial plan.
How Does the Parenting Payment Help Parents?
The $987.70 Pension Payment serves as a vital source of income for families with young children. Here’s how it helps:
- Covers the cost of childcare
- Assists with school supplies and activities
- Helps pay utility and grocery bills
- Provides financial relief for healthcare expenses
For single parents or families with one income, this payment can be the difference between making ends meet or falling short.
Additional Support and Benefits for Parents
Apart from the $987.70 Pension Payment, there are other benefits that may be available:
Family Tax Benefit (FTB)
This benefit helps with the cost of raising children and includes two parts: Part A (income-tested) and Part B (for single-income families).
Child Care Subsidy (CCS)
This subsidy reduces the cost of childcare for parents who are working or studying. The payment is made directly to childcare providers and lowers your out-of-pocket expenses.
Parenting Payment: Single vs Partnered
If you’re a single parent, you may qualify for a higher payment than partnered parents. Household income and combined assets will affect eligibility and payment amounts.
FAQs About $987.70 Pension Payment Plus $28.30 Supplement
1. Can I get the Parenting Payment if I work part-time?
Yes, as long as your income stays below the threshold. Your payment may be reduced based on what you earn.
2. What happens when my child turns 8?
You will no longer be eligible for the Parenting Payment. You might need to apply for JobSeeker or other support.
3. How do I check my payment status?
Log into your myGov account to track your application or see your upcoming payment dates.
4. Can I help someone else apply for the payment?
You can assist someone, but the application must be submitted using their own myGov account.
5. What other help can parents receive?
Besides Parenting Payment, you may qualify for Family Tax Benefit, Child Care Subsidy, and more. Visit Services Australia for full details.
Final Thought
The $987.70 Pension Payment and its $28.30 supplement provide meaningful support to parents doing their best to raise young children in Australia. If you meet the criteria, don’t wait—apply today and take advantage of the help that’s available. Make sure to stay informed, track your payments, and explore other benefits that may suit your needs.
Have questions or tips for other parents? Leave a comment or share this article with someone who might benefit from it! For more helpful guides, browse our parenting and financial support content.
