Nearly 4 million pensioners will receive a hike in their payments later this month to reflect the higher rate of wages in Australia.

The pension payment to singles is reported to increase by $29.20 a fortnight to $701.10 from March 20, Community Services Minister Jenny Macklin posted yesterday.

While, for couples on a combined pension the payment will raise by $44 a fortnight to $1057.

However, those on the age pension, disability support pension, carer payment, veteran income support payments, wife pension, widow B pension and bereavement allowance will receive the hikes

Adult allowance rates, such as Newstart, is revealed to increase by $6.80 a fortnight for single people aged 21 or over with no children.

The deeming rate will rise from 2 per cent to 3 per cent for investments up to $42,000 for single pensioners and $70,000 for a couple. It will increase from 3 per cent to 4½ per cent for balances over these amounts.