Skip to Content

Pensions and allowances rise

< PreviousTable of Contents | Next >

Veterans’ pensions were increased from 20 September 2015 following the latest round of indexation adjustments.  

As pension rates are calculated on a daily basis, the pension paid on payday 1 October 2015 will be paid partly at the old rate and partly at the new rate. The first full payment at the new rates of pension will be payday 15 October 2015.

The maximum rate of single service pension has risen by $6.80 to $867.00 per fortnight and the maximum rate for couples has increased by $5.10 to $653.50 per fortnight (each). These rates include pension and energy supplement.

The Special Rate of disability pension (T&PI pension) has increased by $10.40 to $1,330.90 per fortnight. Extreme Disablement Adjustment (EDA) has increased by $5.80 to $735.10 per fortnight and the 100 per cent General Rate of disability pension has increased by $3.70 to $473.10 per fortnight. These rates include the energy supplement.

The pension paid to war widow(er)s has increased by $6.80 to $880.90 per fortnight (including the energy supplement), while the ceiling rate of the income support supplement, which is paid to some 57,000 war widow(er)s, has risen to $259.90 per fortnight.

Payments have also increased for benefits under the Military Rehabilitation and Compensation Act 2004 (MRCA). The weekly MRCA wholly dependent partner payment has increased by $3.40 to $440.45 paid fortnightly. This rate includes the energy supplement.

The deeming rates and thresholds remain unchanged. The lower deeming rate is currently 1.75% and is applied to financial assets below $48,600 (single) or $80,600 (couple combined). The higher deeming rate is currently 3.25% and applies to financial assets in excess of those amounts.

The indexation factor used to index pensions each March and September can be based on either the Consumer Price Index (CPI), the Pensioner and Beneficiary Living Cost Index (PBLCI) or Male Total Average Weekly Earnings (MTAWE). For 20 September 2015, the CPI and PBLCI both produced a 0.8% increase over the six months.

More information on the new pension rates is available from DVA on 133 254 or from regional Australia free call 1800 555 254 or visit the DVA website.  

< PreviousTable of Contents | Next >

Please note that this is a Vetaffairs article and certain information may be out of date.

Average: 2.9 (7 votes)