5GAPension supplement rate definitions

5GA Pension supplement rate definitions

(1) In this Act, the combined couple rate of pension supplement is $2,199.60.

Note 1: This rate is indexed 6 monthly in line with CPI increases (see sections 59B to 59E).

Note 2: This rate is an annual rate.

(2) In this Act, the combined couple rate of minimum pension supplement is $1,185.60.

Note 1: This rate is indexed 6 monthly in line with CPI increases (see sections 59B to 59E).

Note 2: This rate is an annual rate.

(3) In this Act, a person’s minimum pension supplement amount is the amount worked out by: (a) applying the applicable percentage in the following table to the combined couple rate of minimum pension supplement; and (b) if: (i) the person is not partnered; and (ii) the amount resulting from paragraph (a) is not a multiple of $2.60; rounding the amount up or down to the nearest multiple of $2.60 (rounding up if the amount is not a multiple of $2.60 but is a multiple of $1.30).

Note: A person’s minimum pension supplement amount is an annual rate.

(4) In this Act, a person’s pension supplement basic amount depends on which family situation in the following table applies to the person. The person’s pension supplement basic amount is the corresponding amount set out in the table.