DVA Minister’s Release – Pension Increase for Veterans

20 Mar 2015

Veterans, their partners, war widows and widowers across Australia will see an increase to their pensions from 20 March 2015 as part of the bi-annual indexation process.

As pension rates are calculated on a daily basis, the next pension paid after the 20 March increase (on payday 2 April 2015) will be paid partly at the old rate and partly at the new rate. The first full payment at the new pension rates will be 16 April. A summary of pension rates is available online at www.dva.gov.au/media

Deeming rates have also been adjusted. From 20 March 2015, the lower deeming rate has been reduced to 1.75 per cent while the higher deeming rate has been reduced to 3.25 per cent. The reduced deeming rates mean that income support pensioners with financial assets such as cash, shares and bank accounts will have less income included in their assessment and may therefore receive a higher rate of pension.
Pensions are indexed twice a year in March and September.

A full list of pension rates are available on www.dva.gov.au or by calling 133 254 or 1800 555 254 from regional Australia.

Media inquiries: Minister Ronaldson: Mark Lee 02 6277 7820 or 0408 547 381
Department of Veterans’ Affairs Media: 02 6289 6203