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 2017 is based on the period from July to December 2016).

How much is the latest increase?

For the period 1 July 2016 - 31 December 2016, the CPI increased by 1.29%.

  • Effective from 19 May 2017
  • Paid on payday 1 June 2017

If you commenced your pension between July and December 2016, 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 2016 1/6 0.22%
November 2016 2/6 0.43%
October 2016 3/6 0.65%
September 2016 4/6 0.86%
August 2016 5/6 1.08%
July 2016 (or prior) 6/6 1.29%

Pensioners who commenced their pension after 1 January 2017 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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