Nine in 10 of them are women.

The change meant payments were cut off at the age of eight instead of 16, pushing single parents onto the dole and leaving many up to $110 per week worse off.

The Albanese Labor government is now paying for that change, to the tune of $1.9 billion, after announcing the payment will be extended until the youngest child turns 14.

"We want to make sure that the children of single-parent families have the best opportunities in life," the Prime Minister said.

"We want to look after single parents because we know that the role that they play in raising their children is such a priority for them, and they're deserving of more support."

Eligible parents will get an extra $175 a fortnight, which will be a welcome boost for around 57,000 single parents.

But the hike falls short of a key recommendation made by the government's women's equality taskforce that the age be returned to 16.

"A 14-year-old starts to, in today's world, starts to move into that change into adulthood," Albanese said.

"We think we've got the right balance here."