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CPI update

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

On the first payday in January and July each year, your pension is indexed in line with the Consumer Price Index (CPI). The CPI takes into account a range of factors as set by the Australian Bureau of Statistics (ABS). These factors take into consideration a range of categories of goods and services, e.g. food, clothing, housing, health and transportation. If you would like more information about the CPI, please go to the ABS website at www.abs.gov.au.

Once the ABS releases the CPI figure, we can determine whether your pension is due for an increase. If the new CPI number exceeds the previous March (or September) CPI number, we increase your payment. If the new CPI number does not exceed the highest of these numbers there is no increase in the CPI rate.

CPI Increase Calculation
(September 2010 CPI figure – March 2010 CPI figure) ÷ March 2010 CPI figure
 × 100
= CPI change
(173.3 – 171.0) ÷ 171.0
 × 100
= 1.34502%
 
= 1.3% (when rounded to the nearest tenth of one per cent)

Therefore, on payday 13 January 2011, the part of your superannuation pension that is subject to CPI will be increased by 1.3%. If you would like more information about the CPI, please go to the ABS website at www.abs.gov.au.