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CPI update

Pension Administration Service | Bi-Annual Benefits | CPI Update | Latest Date to make changes to payments | Medicare

Your superannuation pension can be affected by movement in the Consumer Price Index (CPI)

What happens when there is no CPI Increase?

On 22 April 2009 the Australian Bureau of Statistics announced a CPI change of -0.18% for the September 2008 to March 2009 period. To arrive at that figure, the following calculation was made:

(March 2009 CPI number) – (September 2008 CPI number)divided by
(September 2008 CPI number)
× 100
=
CPI change  (September 2008 to March 2009)
(166.2 – 166.5)divided by
166.5
× 100
=
-0.1801801%
=
-0.18% (when rounded to the nearest tenth of one per cent)

Therefore, on payday 2 July 2009, your superannuation pension will not be increased.

Please Note: If the movement in the CPI is less than zero, your pension will not be changed for that six month period.

Links

For more information on the CPI, see the Australian Bureau of Statistics web site.