Skip to main content
Skip to left navigation

Twice Yearly adjustment of benefits

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

DFRDB pensions are automatically adjusted twice yearly in line with movements in the Consumer Price Index (CPI) for the six months ending 30 September and 31 March each year.

As a Pension Recipient you will receive a statement in January and July showing your new rate of pension. Your income tax payment summary and other relevant information will be included with the July statement.

Your initial pension adjustment will be proportional, according to the number of months that you have been receiving the pension up to 31 March or 30 September. Subsequent twice yearly adjustments will receive the full amount.

Commutation and CPI adjustments

If you elect to commute from four times retirement pay up to the maximum multiple, the total amount of the remaining retirement pay is CPI indexed. However, if you don’t elect to commute, or you elect to commutate less than four times retirement pay, CPI indexation will only be applied to your notional retirement pay, which is the rate of retirement pay that would be payable if you had elected to commute four times retirement pay.

Links

For more information on the Consumer Price Index, see the Australian Bureau of Statistics web site http://www.abs.gov.au

PDFs can be viewed and printed using the FREE Adobe Acrobat Reader.