Date posted:
Police
pensions will be adjusted for the Consumer Price Index (CPI) –
Adelaide, and payable to members in pension payment due 06
October 2022.
The CPI adjustment period is from 1 April 2022 to 30 September 2022 (a total of 183 days). The CPI percentage has been calculated using the percentage variations between the preceding December 2021 and June 2022 periods as reported by the Australian Bureau of Statistics (ABS).
The percentage used to calculate the CPI depends on the:
- legislation in place as at the date the member’s pension commenced (or in the case of reversionary pension recipients, the date the original member’s benefits became payable)
- number of days the member has been in receipt of pension if less than the 183 day period
therefore, where a member’s pension commenced:
- before 1 June 1990 (under the repealed Police Pensions Act), pensions will be adjusted by 5.43 percent (CPI plus one third).
- after 1 June 1990 (current Police Super Act 1990), pensions will be adjusted by 4.07 percent (CPI only).
- on or after 1 April 2022, pensions will be adjusted by a proportion of 4.07 percent where the member has not been in receipt of pension for the preceding 183 day period. Members in this category will be entitled to the full CPI in April 2023.
Correspondence containing a member’s new gross pension and details are in the post for those requesting hard copy; and available online.
Centrelink & Veteran Affairs are automatically advised of each member’s pension adjustment as per Commonwealth legislative requirements.