Age Pension Increases 1.8%
Age Pensions were increased by 1.8% on 20 September for the six months since the last increase on 20 March. The annual rate of age pension is now $11,164 for a single pensioner and $18,637 for a married couple.
Maximum income for the income means test is $52,273pa for a married couple. At current 5 year term deposit rates of 4.5%pa a married couple would need savings of $1,161,600 to be able to produce an income of $52,273 as self funded retirees.
Posted Sunday, 22 September 2002
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