Pension Members

Pension members - this section is just for you. Here you will find information to help you manage your pension and enjoy your retirement.

Consumer Price Index (CPI) Increase

On the first pay day in June and December each year, your pension payments increase in accordance with positive movements in the Consumer Price Index (CPI) for all capital cities. CPI adjustments are made six months retrospectively (i.e. the CPI increase for June 2018 is based on the period from July to December 2017).

How much is the latest increase?

For the period 1 July 2017 - 31 December 2017, the CPI increased by 1.26%.

  • Effective from 1 June 2018
  • Paid on payday 14 June 2018

If you commenced your pension between August and December 2017, you may receive a partial CPI increase to your pension (refer to the table below).

Pension pro-rata increases

Month pension commenced Fraction of increase applied Actual increase applied
December 2017 1/6 0.21%
November 2017 2/6 0.42%
October 2017 3/6 0.63%
September 2017 4/6 0.84%
August 2017 5/6 1.05%
July 2017 (or prior)  6/6 1.26%

Pensioners who commenced their pension after 1 January 2018 may not receive an increase.

Are you enjoying your retirement?

Moving into retirement is a big change! Some people love it, but you may be finding it tricky to adjust.

Whether you have taken to retirement easily, or whether you are finding it challenging, you should read through our Retirement Life Stages section. This section is based on research of our members, and describes four distinct life stages throughout retirement.

We have gathered some information and suggestions to help you make the most of each retirement stage. The information is not just about your finances, but your health and wellbeing too - the most important part of your retirement lifestyle.

Retirement life stages

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