Deeming rates lowered again
The Federal Government has further reduced deeming rates to reflect lower returns available to pensioners from financial investments as a result of the global economic crisis.
From 20 March 2009 the upper deeming rate will decrease from four percent to three percent for the balance of financial investments over $41,000 for single pensioners or $68,200 for a couple.
The lower deeming rate will decrease from three percent to two percent for balances up to those amounts.
A regular revaluation of all shares and managed investments held by pensioners will be undertaken by Centrelink on 20 March 2009.