Deeming rates for age pension to decrease from 20 March

The Minister for Social Services, Scott Morrison, has announced a decrease in the age pension deeming rates.

“The lower deeming rate will decrease from 2 per cent to 1.75 per cent for financial investments up to $48,000 for single pensioners and allowees, $79,600 for pensioner couples and $39,800 for each member of an allowee couple,” said Mr Morrison.

The upper deeming rate will also decrease from the current 3.50% to 3.25%. Both the decrease in the deeming rate and an indexation increase to the age pension will apply from 20 March. Read more...