Millions of Australians are set to receive increased social benefits today as the government scrambles to tackle the rising cost of living.

The new payments which will take effect on September 20 will be the largest increase in social benefits in almost 30 years.

The increase will impact several payments, including JobSeeker, pensions, disability support and carer payments.

Disability, pension and carer payments are set to increase by $38.90 per fortnight for singles and $58.80 for couples.

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This will see the maximum increase for a pension increase to $1,026.50 per single and $773.80 per person in a couple and a total of $1,547.60 for a couple.

JobSeeker payments are set to increase by $25.70 per person per fortnight for a total of $677.20 and $35.20 per fortnight for parental payments totaling $927.40.

For couples, the JobSeeker and Parenting payments will increase by $23.40 per fortnight to $616.60.

The rate increase coincides with the rising cost of living, including an increase in interest rates, energy prices and inflation.

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