PENSION RATE CUT

[kengillard]

http://www.theaustralian.com.au/politics/pension-rise-hit-by-rate-gouge/story-e6frgczf-1225840233497

Thanks Julia!

[twyngwyn]

That's dated 2010???

[sandypas]

Rudd Government - not current.

[purple_haize]

I got a rise in my age pension that I got today, but it was nothing like what is mentioned in the paper.

[purple_haize]

Oh, didnt read that it was Rudd............

[kengillard]

Sorry folks.    I was under the impression that we were getting $54 p. fortnight rise today.  guess what?  $23.......just the auto. rise in March and September.  Wondered why our fearless leader hadn't blown her trumpet loudly...:_|

[crosbystills]

The linked story talks about a rise in the deeming rate which occurred in 2010. The deeming rate stayed high (3% & 4.5%) despite numerous interest rate cuts since.

A few days ago the deeming rate was decreased by half a percent so pensions this week should reflect the recent increase plus the effect of the new deeming rates.

[crosbystills]

 I was under the impression that we were getting $54 p. fortnight rise today.  guess what?  $23......_|

Best way to gauge the actual rise is probably to wait a fortnight, since a payment received today probably only reflects the number of days since the changes, rather than a full fortnight.

[purple_haize]

Best way to gauge the actual rise is probably to wait a fortnight, since a payment received today probably only reflects the number of days since the changes, rather than a full fortnight.

That is right, they usually pay some the payday after the 20th. Dont get the full rise till the first payment in April.

[just_me_karen]

The honourable thing to do, when one vehemently opposes a gift giver, is to return it or donate to charity.