Centrelink Deeming Rates to be reduced from 20 March 2015

The deeming rates applying from 20 March 2015 will be 1.75% (previously 2%) and 3.25% (previously 3.5%).  The reduction in the deeming rates reflects current market rates.  

The deeming rates are applied to the financial assets of recipients of Age Pensions, Disability Support Pensions and Carer Payments for the purpose of applying the income means test and thereby determining their pension payments.

For single pensioners the deeming rate of 1.75% will apply to the first $48,000 of financial assets and the 3.25% rate will apply to the value of financial assets above the first $48,000.

For pensioner couples, the deeming rate of 1.75% will apply to the first $79,600 of their combined financial assets and the 3.25% rate will apply to the value of their combined financial assets above the first $79,600.