James Coyle

Age Pension increase 20 September 2024

With Consumer Price Index (CPI) and Pensioner Beneficiary Living Cost Index increases (PBLCI) now published, we are able to predict the most likely increases to the Age Pension on 20 September 2024.

We believe this pay rise for retirees will be $26.54 per fortnight for singles and $41.17 for couples. It will affect almost three-quarters of older Australians.

How have we reached this conclusion? By using the three key components of indexation which consist of:

Consumer Price Index

Pensioner Beneficiary Living Cost Index

Average Weekly Ordinary Time Earnings

By checking on this data, we can fairly accurately predict the indexation weeks before it comes through. Based upon the latest Australian Bureau of Statistics (ABS) updates our calculations suggest a 2.6% increase to the base rate of the Age Pension.

Do you know the basics? Quick financial literacy quiz

by James Coyle | Planning for Retirement

Most retirees report their major concern to be whether their money will last as long as they do. But maybe, as the old saying goes, it’s not what you’ve got but what you do with it that really counts. That’s where your financial literacy comes into play. Whether you start retirement with a modest nest egg or more significant savings, it’s how you manage this money across your retirement journey that will matter the most.

How to boost your super using the new contribution rules

by James Coyle | Superannuation

You may recall in mid-April we shared a preview of 1 July changes to superannuation.

Since then we have had many members asking questions about the various ways they might use the new contribution amounts to boost their retirement income. It seems that many of these different rules sound either incomprehensible, or you need a white board to start to understand how they relate to each other. Today we look at each of the changes and explain how you can take advantage of these new rules.