Australian age and disability pensions, along with carer payments, will increase from March 20, with singles on the maximum basic rate receiving an extra $22 per fortnight. The 3.8% increase falls short of the current inflation rate, which would have required a boost of at least $41 per fortnight to maintain purchasing power. Millions of Australians will be affected by the below-inflation pension adjustment.

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Pension boost falls short of inflation rate

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