Australia. Pension pay rise kicks in but deeming rates disappoint retirees
PENSIONERS have received a pay rise this month, pushing their fortnightly rate above $900 for the first time.
However, deeming rates are again unmoved, annoying hundreds of thousands of retirees who Centrelink judges to be earning more income than they actually are.
Deeming — the threshold used by the pension income test when measuring financial assets such as cash or shares — is still at 1.75 per cent for the first $52,000 of a single pensioner’s assets and 3.25 per cent on amounts above that.
Read More: News AU
