Pensioners demand more budget pork

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Last month, the ABS reported an 0.8% fall in the cost of living for Aged Pensioners, which followed the 1.9% decline in the Consumer Price Index:

On the back of this fall, the indexation formula used to determine the increase in government pension payments meant there wasn’t an increase in Aged Pension payments in September, which was the first time since 1931 that no increase has occurred.

Now the peak lobby group, National Seniors Australia, is demanding payments to seniors in next week’s federal budget:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.