3 years ago
GOVERNMENT’S PENSION FREEZE BEGINS TODAY
LINDA BURNEY MP
On the 20th of March and the 20th of September each year, pensioners would ordinarily expect an increase to their payments – indexed to meet increases in costs and living expenses.
Age pensioners are among the most financially prudent of us and many would have included an anticipated indexation in their weekly budgets.
Today, for the first time in a quarter of a century however, the pension will not be indexed.
Over 2.5 million age pensioners* will not see an increase to their payments, including:
Age pensioners are among the most financially prudent of us and many would have included an anticipated indexation in their weekly budgets.
Today, for the first time in a quarter of a century however, the pension will not be indexed.
Over 2.5 million age pensioners* will not see an increase to their payments, including:
- New South Wales - 796,332
- Victoria - 609,645
- Queensland - 502,396
- South Australia - 216,849
- Western Australia - 235,643
- Tasmania - 72,027
- Northern Territory - 10,228
- Australian Capital Territory - 25,087
- Unknown - 87,810
It will have been a whole year – at the very least – since pensioners last saw their payments indexed.
These aren’t ordinary times.
Pensioners have been facing rising health, dental, energy and grocery bills for years. Average GP out-of-pocket costs alone have gone up by $11 under this Government.
And interest rates remain at record lows. Pensioners with modest savings face a double whammy.
Labor is calling on the Government to immediately end its freeze of the pension.