It’s that time of year again when we receive clearer signals about the magnitude of Age Pension indexation scheduled for 20 March.
From 20 March 2024 the maximum full Age Pension increases $19.60 per fortnight for a single person and $29.40 for a couple combined.
The good news is that, even though the Consumer Price Index (CPI) has eased off somewhat, there will still be an increase in the Age Pension base rate and main supplement. This will be based upon a CPI increase of 1.8% which was higher than the increase in the Pensioner and Beneficiaries Living Cost Index (PBLCI) which was confirmed recently to have risen by 1.5% over the past six months.
The what, you might ask? Here’s a quick recap on how Services Australia uses different economic indicators to measure price and wage increases and then apply this movement to keep Age Pensioners ‘in touch’ with the working population. This indexation takes place twice a year, on 20 March and 20 September.
How Age Pension Indexation is calculated
The three key components of indexation are:
- Consumer Price Index (CPI)
- Pensioner Beneficiary Living Cost Index (PBLCI)
- Male Total Average Weekly Earnings (MTAWE)
Here’s how each of these components of Age Pension indexation are used.
Consumer Price Index (CPI)
This is a measurement of selected consumer prices over the past month, six months and year. The increase period that is used for March 2024 Age Pension indexation is the same for both CPI and PBLCI, the six months change between December 2023 – June 2023.
Pensioner Beneficiary Living Cost Index (PBLCI)
Living Cost Indexes (LCIs) measures the price change of goods and services and its effect on living expenses of selected household types. The PBLCI measures the living costs for Age Pensioners and other ‘government transfer’ recipient households, i.e. households that source most of their income from government support.
Male Total Average Weekly Earnings (MTAWE)
This index measures the six-monthly movement in the average weekly ordinary time earnings of full-time adults, seasonally adjusted. Essentially a couple’s full Age Pension amount must be at least 41.76% of MTAWE. This measure hasn’t affected Age Pension indexation for 15 years.
How much extra will be paid in March?
Because the CPI is the higher measure, and therefore the one which applies, the full singles Age Pension base rate will go up by around $10 per week while couples will see about a (combined) $15 increase. The 1.8% is NOT applied to the energy supplement.
The below table shows the current Age Pension benefit and the confirmed 20 March increase
| Per fortnight | Single | Mar 20 increase | Couple each | Couple combined | Mar 20 increase Couple combined |
|---|---|---|---|---|---|
| Maximum basic rate | $1,002.50 | $18.10 | $755.70 | $1,511.40 | $27.20 |
| Maximum Pension Supplement | $80.10 | $1.50 | $60.40 | $120.80 | $2.20 |
| Energy Supplement | $14.10 | $0 | $10.60 | $21.20 | $0 |
| Total | $1096.70 | $1116.30 | $826.70 | $1,653.40 | $1682.80 |
Are you receiving the correct amount of government entitlements? Fill in our free Age Pension Entitlements Calculator to check your figures!
Is this enough?
Because the CPI is the determinant, in theory, the Age Pension increase should cover your own personal cost of living increases caused by higher prices for goods and services. But is the extra $10 or $15 per week really enough? In your experience, have the costs of those items that your household consumes only gone up by 1.8% It seems unlikely when we think about things like fuel, insurances and supermarket shopping.
Is it helpful?
We’d love to hear your thoughts on whether the expected increase will help to cover price increases – or if it’s two cups of coffee a week and not much more?
Shortly after Services Australia officially announces the 20 March indexation changes, the Retirement Essentials Age Pension Entitlements Calculator will be updated to reflect the new amounts. In the meantime, it can be used for free to assist with all your calculations on the current rates.
If you are approaching the time when you apply for an Age Pension or you wish to review the amount you are currently receiving, a Maximising Your Entitlements consultation will allow you to fully understand all the entitlements strategies at your disposal.
*Article updated with confirmed Age Pension Increases 04/03/2024 1.30pm
How can pensioners survive? You have the HUGE increases in all the living costs and they will get around $10 per week increase [single]??
The pensioners are the forgotten people – it is disgraceful.
Think of the self funded retirees. We have had to live on the low interest the banks were paying for years. Not all retirees can turn there assets into cash to live on.
fuel average is $2 a litre our food is $60 more a week electricity is up our insurance on car & van we live in went up $ 700 to $ 3800this year $700 of that was goverment tax yes we are being left behind under this goverment .
There are higher tax free returns to be had in super. Depending on circumstances worth investigating. I also note that banks are now paying higher interest rates than they have had for some time.
spot on ! Seems that self funded’s are forgotten.
A self funded pension individual needs to have $29000 invested at 5% to get the equivalent of the new rate, and more because of tax on that interest.
This shows the folly of the ‘system’ that encourages people to spend everything when in work because they can rely on Government when they don’t.
It’s only recently you can get 5% – when TD & similar rates fall soon the self fundeds will really start to hurt.
The fact they are ‘self funded’ indicates the +++ cash they have and shouldn’t be entitled to Pension support …taking away more financial support for the already struggling pensioner….
I totally agree with you. Pensioners cannot even survive on this increase let alone live. The pension base should be increased ASAP.
Govt ,PM ,pollies receive massive pay increases .
some pensioners pay $600 rent , fuel ,rego ,running expenses tyres ,power insurance medical, food if only ,or clothes on pension.
so Care factor ZERO
$42mil just gone off shore i read .
just keep bringing in refugees get housed immediately,on pension .never paid tax , take shopping for electronics etc clothing . yes some if us are well aware of what goes on .
what about rent assistance rent has increased extraordinarily but assistance has not …shame on you Labor
All this can be be eased for our children and could have been for us if we had knuckled down and bought a house when wages were good jobs were plentiful and houses were cheap.. BUT no so many said “no the govt will look after us” they did not in the past and they won’t in the future …Help can be found ONLY in the person you see every morning in your bathroom mirror
Yes, as soon as the greedy Landlords & Real Estate Agents get wind of increases, up goes the rents, generally higher than the increases. They hate to miss out or to give people a fair go. The only way to stop them is to legislate minimum & maximum rents, in a fair way where both the owner & tenant are treated with respect.
The age pension & associated benefits is already way too generous. It is not meant to be lived on solely. Pensioners should have done something during their working lives to provide for themselves, and don’t give me some BS about not having super until late – there were plenty of other ways of saving over the years while working – truth is many did not bother. Stop complaining & be thankful you get anything at all – you made you bed, now lie in it.
wow Brad really?
I will look down on you when its your turn and see how you cope
im 72 and worked all my life
never earned as much as men though had to pay same taxes. never got any Super. check your facts!
The majority of aged pensioners worked their entire live, paying taxes, rearing families and either paying rent or mortgages.
No one, I mean no one envisaged a financially skewed world we live in today.
Even those with “savings” struggle.
I’m 71, and employed 7+ Australians, paid company and payroll taxes without compulsory super and it wasn’t a big deal at that time.
It was ALWAYS your right to retire at 65 years and still have a quality of life, that Australians enjoyed.
It’s not known if this commentator is a pensioner or not.
I work 13 hours a week to supplement my pension with the added bonus of losing 50% from my pension after I earn over $300 a fortnight. I have $150 deducted from my pension each fortnight to offset my tax obligations leading up to June 30.
I would prefer to be taxed fully on my pension as well as the tax I pay for my part-time job.
Everyone has different circumstances, yet it’s painfully obvious that the benefits received are NOT adequate.
Remember during Covid-19, the benefits for jobseeker were doubled to $1,500, with the then minister saying no one can be expected to live on $750 a fortnight.
Go figure.
People’s circumstances change in there lifetime. Illness took our savings and super, we were looking at enjoying our retirement, now we are like so many on a pension and being a carer.
Brad had very rich parents so he doesn’t know what it means to go without, we have earned it not inherited it.
You must be fun at parties Brad!!
I had my own home, but Centrelink stated they had reliable information I was the beneficiary owner of my son’s home, they never substantiated this. In fact, blanked it out of my files, so they suspended my DSP until I prove otherwise. Now I am deported for being a bad character. Holland assisted me, after being deported, to my old age pension from Australia.
I tend to agree AND it is CPIed! Meanwhile most salary and wage earners have seen a decrease in their real earnings. The pension for most should be a supplement to super.
Spot on!
well well Mr you are not accredit to make a statement like that I can tell you.right now I a credit person I have Dip in Social Services 2017 and worked in Health and Social Welfore for 38 years .Every individual has their story and usual situations beyound their controll.I sugedt to you.very very strongly be for you make any further statments you get EDUCATED As you are making your self look like biget uneducated uncredited statements
person in my view you are bite your tounge .
I’m a single aged pensioner and I struggle.
I agree I am an age pensioner and it is so so hard to live on pension my rent has just gone up another 100.00 a fortnight all the politicians are paid far too much so greedy wake up bank managers and other corporate big shots should be ashamed
Total insult not even $10 a week
Prime Minister received an annual increase+stage 3 tax cuts of approx $28,000. An increase more than pensioners annual income
“No one will be left behind” well pensioners have been left behind for decades
About time government placed pensioners above the poverty line
Throw out the formula for increases every six months and look at the real world that we are living in
Cost of living well above the meagre $10 a week when the PRIME MINISTER is receiving over $500 a week increase
Boy have you hit the nail on the head. It is very clear that the leaders are really not concerned with the aged folk. Remember that we all helped build this country so all could have a great place to live. Shame on you govt leaders. Won’t vote for you again.
I feel that the government has forgotten us we worked hard all our lives pay high taxes for our pension
no wonder so many pensioners commit suicide
you barely exist on the pension
I cannot live in Australia as there is no rooms for single person.
Why aren’t politicians getting the same pension as other Australians when they retire? See the age pension become a liveable amount then.
yes they should try living on a single pension especially when after rent assistance (I pay 52% of it in rent) I only have 48% of it to cover all my other expenses which keep on going up.
We all know inflation is more than 1.8% , car insurace +30% , electricity +30% ,; why no increase in energy supplement ? Albo could stop gst on electricity , essential service , like water ?
Thought I read male awe rose by 4% ,
Billions can be allocated to defence and green energy , but next to nothing to maintain the quality of life for the people who helped built the country ,
At least Mali gives us a free ride on the bus in SA ,
but thats not out of touch Canberra !!!,
Cut, cut cut all expenses where you can.
Phone the providers and ‘do a deal’….. either they keep things as is or you have no alternative but to look at ‘other options’.
In most cases, they come to the party.
Absolute rubbish. medical non pbs are up nearly 40% lately. Further supermarket prices generally for most items are up 10% since last rise. The government seems to be pushing a line that everything is reducing when in fact the opposite is true.
the pesioners must get a voice we should canvass the local mps
This government cares more about other countries and their citizens than looking after their own people most baby boomers worked and paid higher taxes because there was no super and it was so they could get an old age pension .This government needs to go it keeps taking pay rises and when they get old they will have a big fat super wake up Australia we no longer live in the free country our fathers and grandfathers went to war for us baby boomers so we could have a better life than they did .I say thank you to them and will never forget .
You are right to be skeptical and once again we are shown you can’t trust the liar in the lodge.
Which liar ??? The last three PMs we had didn’t do a bad job of lying either.
Your are correct Roger, but we have now hit ROCK BOTTOM with this PM.
this increase is absolutely ridiculous as every single item I purchase and every bill I pay has increased so much. I can’t believe a labour government would allow this. and by the way who buys 2 coffees a week, I don’t.
Hello they are politicians. Part of the job description is lying.
As usual the cost of living has sky rocketed and CEO’s and Politicians get hefty salaries and pensions. Whilst aged and DSP get crumbs from the crumbs to live on.
the commie government wants age pensioners to die
Reds under the bed…my my…that was a lifetime ago lol
Agreed, the Marxists have been lurking ever since they lost WW2 and now it seems its their hour. They’ve ‘white anted’ our systems here and all around the world they’re of the lowest order. Lord give us strength.
$10 a week?…those in public housing will have their rent rise by half of that – give with one hand then quietly snatch it back with the other
The Pension currently is inadequate at keeping pace with inflation and corporate profiteering. How can the government just sit by and let this happen. insurance costs, groceries, utility bills and petrol have significantly increased and so have car servicing costs. it’s a nightmare.
The well off can afford a home care package , but when you have minimal savings or super and when the basic expenses package copayment is between 3-5k/ yr/ who can afford this?? (This is not including any additional means -tested copayment ) . Too many elderly on or near poverty are delaying commencing the basic level packages as it costs too much paying $ 11-12/day to their Provider even when receiving minimal support . Makes sense when providers are delivering higher level of services eg level 3-4 packages. So people just struggle on until a coping crisis forces them to participate and accept paying the Provider. Very hard on some. We punish the poor, we reward the wealthy.
I am an expat having retired overseas some 11 years ago. I live a comfortable life in a large rural city only minutes from all major shopping centre’s and hospitals.
On what we receive in the form of the pension I would not have survived back home. So I have been truly blessed with the decision that I made to move overseas and would recommend it to others so that you are able to really enjoy your golden years.
Geoff, which country do you live in?
Where overseas
yes where is this paradise?
Let me know where the country is you live my friend.
I shall move. The lucky country is hard to survive in. Due to the way it’s run. Doesn’t matter who is running it they are all out for themselves.
This is suppose to be our golden years.
And all you get it kicked in the guts by grabbing people who don’t give be a dam for old people. Just waiting for them to go to heaven then can take the rest of what they had. A real shocker to be old in the lucky country.
C’mon Geoff, tell us which country you are in! I want to book a flight before it’s all sold out!
You lucky if you are healthy or is this country you leaving now accepting medicare?
Yes, I also made the move overseas and have a good life although not extravagant, but a lot better than residing in Australia as a Pensioner.. I worked all my life and paid my taxes and was abandoned by the Federal govt of Australia..Once your working life in Australia is finished, they want you to hurry up and die …no more expenditure for them….Please consider your vote next time around and give it to someone who is going to support Pensioners
I cannot believe people are saying that electricity has only increased by 30%. My charges per Kwh are up 100% from the bill before last. This government insists on building more windmills and solar farms by massive felling of native forests and killing our beautiful birds and affecting other animals instead of investing in clean nuclear energy. These idiots pretending to be greenies are also condemning developing economies from having affordable energy because they refuse to listen to the science. Finland has the first Greens party in the world to endorse nuclear energy as the best solution to reduce carbon emissions.
Interesting reading people’s comments why don’t seniors that want to work sign up for the Work Bonus Scheme it works i work 15/20 hrs a fornight some may want less you choose when i report each fortnight i don’t loose any of my pension when you do your research on the WBS you will find it an advantage not a disadvantage i have paid a tiny amount of tax ie $24 but you will get that back when i started this i asked centrelink how it actually works and that involved talking about financial assets uncomfortable conversation to go over but they were very helpful and guided me through the initial process you can stop and start anytime you want its not hard JUST CHILL PEOPLE
well said, chris
My Elec wentt down from 30c to 23c, just by shopping around. I get $250 a year off state govt so my elect is around $900 pa
An increase of $9 a week for singles is pathetic. It is not keeping up with inflation at all!!! The cost of fuel, groceries, electricity etc is so high how could a few dollars a week possibly cover that?? We can complain but the government is not listening and hasn’t for a long time. It is a sad state of affairs that the elderly are treated this way. EH
Currently I am not in receipt of any type of pension due to building a house and the funds for this project are deemed and my small Super pension. However, once the majority of the funds have been allocated, I will apply for a part pension. It is interesting that the government did not consider to increase the energy supplement given the part they play in the forever increasing domestic energy costs. I follow Retirement Essentials because the relevant information is always up to date.
I’m not sympathetic to most pensioners as they seem to have far more disposable income than I do and they continue to get rises frequently. I’m a poor self funded retiree who is not eligable to the pension as I have assisted my children with their mortgages, which have impossible repayments. I now have to wait 5 years to have these amounts not included as assets. What little money I have earns a pitiful interest.
Yes I have helped my children as well but if I gambled my money at the pokies and smoked it away or used it to go on a world trip Centrelink says good on you mate here is your pension. The gifting rule needs to change. Houses cost MORE now. mr Albanese take note
The answer is to vote for the other mob next time and see how that goes !!!
I’m forced to stop payments just to receive enough money to pay my rent and survive I’m skirting on the edge of going under I’m 74 voted labour all my life both council and government no more labour will not being voted for this year or again Roger is correct.
Oh you poor self funded retirees I am so sick of listening to you complain about what you don’t have not everyone is lucky enough to be self funded. Think of all the old people that have lost their houses due to floods and fire and the big insurance companies haven’t paid out. I don’t shed any tears for you. Try living on just the pension and paying exorbitant rent then you have the right to complain.
We need at least a $ 300-a-week increase what with the rent increase, Private health increase, electricity increase, gas increase, food increase and it goes on and on.
As it is I have cut expenses to the bone and eat once a day, shower once a fortnight, halved my private health insurance, and cut my food bill to $260 a month but that still is not enough.
They talk about CPI at 1.5% LOL what about the norm of 5-6% inflation, on that alone we should get at least 5% increase. Then what about the greedy landlords who can put our rent up by $100/week/year last year, with another $150 this year and another $175 in the pipeline for next year. Why does the gov not care about our rent ?, but rather insult us with a measly 1.5% saying well its better than nothing
rent petrol electyricity are the big budget killers for pensioners cut out red meat
and u can eat clothes well another hurdle if u own ur own home insurance and maintenance are killers same as a car moving overseas eg panama has a lot of advantages tho be careful to check out health & dental options
Shucks I guess it won’t cover the increase in my local council’s rate bill tomorrow!
I cannot for the life of me work out why people who work to supplement their pension have to pay tax on that very pension ( as well as the job) when somebody who does not have an extra job does not pay a cent in tax on their pension! Unbelievable!!
I do agree extremely unbelievable.
Why have people not planned for retirement? Why don’t those that are always whinging get off their butt and do some research and find out how they can make money. My parents grew their own veggies grew fruit trees and worked hard to pay off their mortgage gave generously to the disadvantaged and never complained. To the smokers I say stop it. To the drinkers go moderate. Stop the whinging and whining
You complaining about whingers.
Oh the irony!
It seems to backward if you work to supplement your pension which is then taxed or reduced, surely it would be better to just tax the income that you earn up front and then you can decide if you want to continue working any extra shifts.
The whole pension issue is a problem however of people that were not aware that they should contribute to their super. When I worked super contributions were just 2% or 3% and no one promoting the importance of boosting it.
If pensions and pensioners are to survive the upcoming generations need to do better than we did it seems absurd that people contributing to their super are taxed ANYTHING after all the whole concept of super is to get those that can afford to be self sufficient in their retirement to do so.
Encourage contributions not tax them and remove contribution limits another stupid policy!
Thailand is said to have a cheap living especially for rent and food. You can apply for retirement visa which allows long term residence
Is the rise across the board? or are part pensions reduced pro rata??
I get a part pension yet full increase which I find both perplexing and generous.
My story could take up many words but I’ll spend some time on it to keep the reader’s interest.
I am 72 and my wife is 69, both retired and have a child of 39 who is deaf and plagued with anxiety who does earn a small amount teaching sign language we support his basic needs. Our daughter is self earning and no financial burden to us. We abandoned our birth country for NZ when I was 50 with no job, either of us, but are professional people (no, not a lawyer/doctor) and we had to start again financially with only $30,000 in our pocket.
We managed to get very average paying jobs and just made ends meet – no extras – we had bought a house in NZ with a 5% deposit in 2004 and luckily After 7 years in NZ I managed to get a great paying job in AU and bought another well positioned house with a 5% deposit which we lived in. We struggled to keep the rented-out NZ house as high interest rates prevailed but managed to sell in 2017 making a good profit.
We have been diligent in planning our retirement knowing our venerability of financially starting late in our life. We managed to get $200,000 each in our Supers. We have nearly paid off the house still owing $220,000 at our age but it is a lovely house and has gone up well in 9 years.
We now live well financially on full pension. We also decided to avail ourselves of the (HEAS) Government’s Home Equity Access Scheme – Partnered Application which gives an extra 50% of the pension to our income, making a pension of approx. $69,000 pa and with the SUPER earning approx $20,000 gives us a good living even though we have to pay on our house bank loan. The house value increases over double pa what is owed to the HEAS when we sell, so children will still benefit well. My dealings with Centerlink have been extensive and sole destroying and too many to mention, all I say KEEP on them, once I sent 11 of the same letter, one on each day to them, and then I wrote to the CEO and got some action.
I feel for those of you in a bad financial position now being old, often made so by many different life challenges encountered along the way like divorce, poor salaries. When I hear the Government paying $20 million to other external causes my blood boils. I hope this story helps those in planning for the future.
I believe AU is the best country to live in even though there are gross injustices and AU prides itself as a fair go for everyone. Best job is, join the political movements get a job and stay there until you are elected, work for 6 years and take home a massive pension.
We all have send emails to our Federal members
Way too much bureaucracy and too little money.
I agree with most pensioners it does not matter which party is in Government they are all the same. They give themselves $25,000 a week pay rise then the pensioners a measly $10.00 a week extra I would like to put these politicians in the same position as pensioners they wouldn’t last a week on what we get. It’s time to hold them accountable for their greedy money grabbing ways. Put them all on the pension for a year and see how long they last having to pay high rents out of control energy prices and over the top grocery prices see how they cope on $1000 a fortnight.
Not that I believe another or any Australian government is going to take notice. 1.8% increase? Ridiculous. I just received notification regarding rent increase of 13% yes13% not 1.3% . Where do governments or should it be who gives governments these ridiculous figures regarding cost of living increases.
Self funded retirees have it worst of all but don’t want to bore or waste time telling whole story here- get rid of the Centrelink bureaucracy and everyone back in the tax system like other countries- all then receive aged pension- with that bureaucracy gone government does not lose out
With proven price gouging and on-going inflation, the very modest pension increase will not provide enough to avoid a “hunger games” scenario. It is becoming more obvious every day, we are past our “use by date” as far as the political class are concerned. C19 and the political response was woeful.
what percentage of the voting population in Australia is held by aged pensioners?. All aged pensioners should unite and vote as one for the party which will pay a fair rate.
pensions have always been insufficient and rises never enough to keep in any way close to increases in goods and services. Governments obviously are unable to fathom that as people age, they may also be unable to continue with household tasks that they have done for most of their lives. Who mows the grass? Who does minor repairs? Who cleans the gutter? These and other minor things still have to be done and at what cost? No allowance or consideration that I know of. Both my wife and I are in our 80’s and have seen many governments come and go, but each seems the same as the last.
Increases in energy costs have been horrendous, and governments have for years been touting us to install rooftop solar and reap the benefits of excess energy being put into the
system….my excess energy input has just been reduced by more than 40%. Certainly our coal fired power stations are run down and need significant repairs and upgrades…but that is probably caused by a lack of planned and continual maintenance…..profits versus necessary expenditure.
Global warming? Certainly been hotter this summer, but does it really come from power stations and industry? Domestic development contributes no end of heat increase in the atmosphere…more black roads, more concrete paths, driveways, industrial building surrounds, more houses reflecting the heat…and all this squeezed together in as small a parcel of land as is necessary so that the next development can be made. Where have the trees gone that were there, the grass and bushes beneath? Little is left except bare earth when developers move in.
Nothing is likely to change, and it appears that the words expressed by a member of parliament when the 2020 freeze on pensions was announced may well apply….it is only through the largesse of taxpayers….that we get a rise.
John Howard said he would go on the pension for a month he lasted 3 days we get a pittance they get a rise they don’t deserve
No point using info from over 20yrs ago
You all have not seen what is to come in a few weeks time. What we are experiencing is kindergarten stuff.
Those who have been able to work on a decent income all their working lives are very lucky. I had no access to Superannuation at all, mostly because it didn’t exist. I have a disability and was withdrawn from the workforce and put on DSP. I am now on Age Pension. I have been able to earn a Master’s degree in Applied Science. I would love to be able to make use of the Pension Work Bonus but the Trade Union movement won’t allow Pensioners over 70 to be employed so what use really is the Work Bonus. Centrelink actually owes me money due to the errors they’ve made over recent years but I’ve been trying to recover that for nearly 10 years. I might die before that happens.
How can we trust a prime minister when after shaking his hand (I wouldn’t) you need to wash the grease of your own hands
His nickname should be Slippery
you have said CPI increase for aged pensions, but what about people receiving JOBSEEKER payments do they receive nothing.
Hi Katherine, there are many changes happening on 20th March and to try and cover them all would make an exhaustive and complex article. Our business primarily assists those interested in Age Pension and/or Commonwealth Seniors Health Card so that is our focus.
no it’s not enough, it will barely cover my rent increase on the 15th, my rent goes up $18 per fortnight on the 15th, so with that, power & cost of food, $19.40 means nothing.
would like to us pensioners get a males basic wage pf fortnight.
I wonder how the PM would feel if his parents ( if they’re still alive) would manage on our pension without help from him.
I understand, agree and sympathise with most of the comments re this. however, there appears to be a number who rely on a pension only that indicates to me that maybe there has been no forward planning. the pension was only ever intended to use in conjunction with super.
agree with politician greed but at some stage we must take our financial futures responsibilities. before the inevitable ridicule, I have been financially broke, twice, but learned from it.
Re trained, re qualified, worked hard for everything, set goals, watched market trends, educated myself etc. All to be debt free and invest in super and still live a frugal life.
I would hate to think those that criticise the most are not the same ones I see eating out and playing poker machines or gambling etc
The pension rises we get every Sept. & March is just a “catch up payment” for the last 6 months. It is like a dog chasing its tail. But over those 6 months the cost of living is going up high that what we get. Hence the pension is sliding back further each 6 months. We are now below the poverty line and getting worse. We supported and helped Australia economically over our work lives and what do we get for it “Poverty lifestyle’. Is this the “Thank You” we get ? For pensioner to just catch up you would need to raise the pension by $100 per fortnight for singles and at least $85 per fortnight for couples. Do the right thing Government and pay us for what we are truly worth for our contribution to Australia over our working lives.
A Big blow is no discount on house rates in S A anymore