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.

When is your pension paid?

Our pay day calendar can help you keep track of when your pension is paid.

Pay day calendar

You can download a copy to print, or a version to import into the calendar on your computer.

Consumer Price Index (CPI) adjustment

In June and December each year we adjust your pension in line with any increase in the Consumer Price Index (CPI) as calculated by the Australian Bureau of Statistics (ABS). The December review is based on CPI for the period 1 January 2020 to 30 June 2020. This year, due to the economic downturn, the CPI rate over this period was negative.

We're pleased to inform you that the rules of your pension mean that your pension will not reduce when there is a negative CPI rate. It won't increase until there is an increase in CPI.



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 2020 is based on the period from July to December 2019).

How much is the latest increase?

For the period 1 July 2019 - 31 December 2019, the CPI increased by 1.22%.

  • Effective from 29 May 2020
  • Paid on payday 11 June 2020

If you commenced your pension between August and December 2019, 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 2019 1/6 0.20%
November 2019 2/6 0.41%
October 2019 3/6 0.61%
September 2019 4/6 0.81%
August 2019 5/6 1.02%
July 2019 (or prior)  6/6 1.22%

Pensioners who commenced their pension after 31 December 2019 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

Related News