Australia's aged and disability support pensions, along with carer's payments, will rise from 20 March to cover rising inflation.
The boost means a $20.10 per fortnight increase for individuals to $987.60 and a $30.20 increase for couples combined at $1,488.80.
Asset test limits will also be stretched to allow more people to access a part pension, with the cap rising by $6,750 to $599,750 for single homeowners.
Homeowner couples will see a $10,000 rise to the asset cap to $901,500.
Almost five million Australians access the three payments.
Social Services Minister Anne Ruston says the indexation was "putting money in the pockets of all Australians who rely on our social security system".

Social Services Minister Anne Ruston. Source: AAP / LUKAS COCH/AAPIMAGE
There have been calls to raise the disability support pension (DSP) by $100 per fortnight to improve living stands, with the soon-to-be $987.60 payment below the national minimum wage of $1,545 per fortnight.
Last month a Senate hearing heard that to appropriately support people who rely on the fortnightly income - or otherwise would be at risk of poverty.
The Morrison government is considering other measures to ease cost-of-living pressures on Australians as post-pandemic economic recovery and the war in Ukraine leads to rising inflation and fuel costs.