Australia. PM flags pension could rise even though cost of living has fallen
Pensioners might be experiencing a fall in their cost of living but Prime Minister Scott Morrison has signalled they won’t miss out on an increase in their pensions.
Pensioners saw a 1.4 per cent fall in the cost of living in the June quarter and a 0.6 per cent fall in the cost of living in the six months to June this year.
However, a parliamentary committee heard this week that the indexation formula, which uses the cost of living among other factors to determine the increase in government pension payments, meant there would be no rise in September payments – the first time since 1931.
Seniors groups leapt on the news, with the Council on the Ageing suggesting another special $750 payment should be made to pensioners to make up for the absence of an increase.
Read more @Financial Review
