How Much are Aged Pensioners losing by the Pension Freeze?.
In September 2019, a single aged pensioner would have received an extra $7.20 per fortnight, or $187.20 for the half year.
A married couple would have received $10.80 between them, or $280.80 for the half year.
So, the answer to the question of “How Much are Aged Pensioners losing by the September 2020 Pension Freeze?” is either $140.40 or $187.20 per person, spread over 6 months.
In March 2021, the aged pension will, presumably, rise again in relation to the increase based on the current lower cost of living index. That might even be a larger than average rise in March 2021.
March 2019 gave the single aged pensioner an extra $9.90 per fortnight, while the married aged pensioners received $7.40 each.
The total of the two rises in 2019 was $18.10 per fortnight for single aged pension recipients, or $13.70 per fortnight for each married pensioner.
If Inflation rises quickly again, by 3.18%, then the March 2021 rise would compensate for any loss of increase in September 2020.
March 2019 to March 2020 Aged pension changes.
- Each Single Aged pensioner rose by 1.954% from March 2019 to March 2020, from $926.20 to $944.30 each, an increase of: $18.10 per fortnight.
- Each Married Aged pensioner rose by 1.962% from March 2019 to March 2020, from $698.10 to $711.80 each, an increase of: $13.70 per fortnight.
To recover from ‘no change’ in September 2020, the March 2021 rise should be to a fortnightly figure of about:
$962.40 for each single pensioner, an increase of $18.10.
$725.50 for each married pensioner, an increase of $13.70.
Previous Aged Pension Increases.
Single: $926.20 from $916.30. An extra $9.90 per fortnight.
Married (each): $698.10 from $690.70. An extra $7.40 per fortnight.
Single: $933.40 from $926.20. An extra $7.20 per fortnight.
Married (each): $703.50 from $698.10. An extra $5.40 per fortnight.
Single: $944.30 from $933.40. An extra $10.90 per fortnight.
Married (each): $711.80 from $703.50. An extra $8.30 per fortnight.