On 28 October 2009 the ABS announced a CPI figure of 168.6 for the September 2009 quarter. As this is higher than the September 2008 figure of 166.5, your pension will increase by 1.3%.
See below to understand how the increase was calculated:
(September 2009 CPI figure—September 2008 CPI figure) ÷ September 2008 CPI figure |
× 100 | = CPI |
(168.6—166.5) ÷ 166.5 |
× 100 | = 1.262% |
= 1.3% (when rounded to the nearest tenth of one per cent) |
Therefore, on payday 14 January 2010, the part of your super pension subject to CPI increases will be increased by 1.3%. If you would like more information about the CPI and how it’s calculated, visit the ABS website at www.abs.gov.au.
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