Business
No pension increase in September – Sydney Morning Herald
Pensioners won’t get the automatic boost to their bank balances they’re used to in September because inflation went backwards in the June quarter.
He could not say how long pensioners would have to wait until their payments did go up.
“I’m not in a position to say that because we have to wait to see the broader economic outcomes,” he said.
JobSeeker payments, which mostly go to unemployed people, also won’t rise in September because, like pensions, they are linked to the consumer price index.
“It all comes down to the different formulas, the different statutory formulas which are applied,” acting deputy secretary Shane Bennett said.
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