PENSIONERS, self-funded retirees and some people living on welfare will receive payments of up to $2100 as part of the Federal Government's attempts to buffer the economy.

But the 417,000 people on unemployment benefits will get none of the largesse despite already being ineligible for the concessions made available to other pensioners.

The Minister for Families and Community Services, Jenny Macklin, described the payments, due to arrive in people's bank accounts from December 8, as a "red letter day".

More than 4 million people will receive the early Christmas present which is costing the Federal Government $4.8 billion.

Pensioners, holders of the Commonwealth Senior Health Card, veterans, war widows and people receiving the carers' payment will get $1400 each and couples will receive $2100.

People receiving the carers' allowance will receive $1000 for each eligible person in their care.

The Government made it clear the payments were an interim measure to tide people over until long-term changes to the pensions and welfare payments system were introduced in the middle of next year.

The announcement has given the Government a brief reprieve from the Opposition's sustained attack that pensioners deserved an increase in payments.

Yesterday's measure is roughly equal to $35 a week for single pensioners and about $26 for couples from the time the payment is made until the end of June next year.

But the payment will also raise expectations that any permanent increase in the pension rate will be at least equal to what was announced yesterday.

The Leader of the Opposition, Malcolm Turnbull, accused the Government of being politically motivated. "What was really needed was not just an injection of liquidity into the system but an injection of compassion," he said.

The announcement did contain some anomalies.

For example, a person receiving the single parent payment is eligible for the $1000 payment made to families but not the $1400 payment made to people receiving disability payments.