The latest indexing of the ­pension came into effect on March 20.

The government says the rise will mean an extra $5.90 for single pensioners a fortnight and $4.40 for each person who is part of a couple.

But pensioner Alf Smith, who lives with his wife in Tarro, told the Mercury that his pay had only risen by $1.57 this week.

Several other pensioners told the Mercury yesterday that they had only seen a couple of dollars difference in their bank accounts.

“It makes no difference whatsoever,” Mr Smith said.

“I’m not happy about it.”

Mr Smith said there was no point in raising the pension by such a small amount.

He said he often had to seek an extension on the deadline to pay his electricity bill because the pension was not enough money.

Mr Smith said the small increase was a slap in the face to pensioners.

“It’s ridiculous. It won’t buy you a thing,” he said.

Under the indexation, the aged pension increases each March and September.

The latest rise is less than half the size of last September’s increase, which was $11.50 a fortnight for single pensioners and $8.70 for each person who is part of a couple.

Paterson MP Bob Baldwin welcomed the increase to the pension in the statement.

“The increases are in addition to the boost pensioners received from the abolition of the carbon tax and the Coalition government’s decision to retain the carbon tax compensation of $14.10 per fortnight for single pensioners and $21.20 for couples,” he said.

“The Coalition government is committed to ensuring our welfare system looks after those who need it most and that this assistance is sustainable.”