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How the Consumer Price Index (CPI) Increase affects your pension

Posted 8 June 2016 11:30am

On the first payday in January and July each year, we adjust your pension in line with the CPI. The CPI takes into account a range of factors as set by the Australian Bureau of Statistics (ABS). This includes the price of food, clothing, housing, health and transportation. Once the ABS releases the CPI figures, we can determine whether your pension is due for an increase. If the CPI rises (and exceeds the previous March or September CPI figure), we increase your payment. If the CPI falls or stays the same, your pension will not change.

If you have not been receiving your pension for the full six months before the CPI increase, you will only receive a proportion of the increase in your pension. For more information, see the July edition of your Pension updateor visit www.abs.gov.au.


CPI increase calculation

(March 2016 CPI figure) – (September 2015 CPI figure)

September 2015 CPI figure

X 100 = CPI Change

 

 

(108.2 – 108)

108

X100 = 0.18518%

 

= 0.2% (when rounded to the
nearest tenth of one per cent)

8 June 2016

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