Date posted:
Police
pensions will be adjusted for the Consumer Price Index (CPI) –
Adelaide, and payable to members in pension payment due 04 April 2024.
The CPI adjustment period is from 1 October 2023 to 31 March 2024 (a total of 183 days). The CPI percentage has been calculated using the percentage variations between the preceding June 2023 to December 2023 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- before 1 June 1990 (under the repealed Police Pensions Act), pensions will be adjusted by 3.19 percent (CPI plus one third).
- after 1 June 1990 (current Police Super Act 1990), pensions will be adjusted by 2.39 percent (CPI only).
- on or after 1 April 2022, pensions will be adjusted by a proportion of 2.39 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 October 2024.
Correspondence containing a member’s new gross pension and details will be posted Thursday, 28/03/2024 for those requesting hard copy; and available online from 26/03/2024.
Centrelink & Veteran Affairs are automatically advised of each member’s pension adjustment as per Commonwealth legislative requirements.