Interest Rates: Labor Claims and Reserve Bank

interest rates: Labor claims if the government lowers the deeming rate by the same amount the Reserve Bank has lowered interest rates, some part-pensioners will be anywhere between 62 and 3875 a year better off, according to Nine News Australia. The government is unlikely to lower it by that much because it would almost wipe out its surplus but hundreds of thousands of pensioners will almost certainly get more cash sometime this week. To improve your experience update it here News National Pension payments could increase with change to deeming rate By 9News Staff6 00pm Jul 7, than half a million Australians could have their pension payments increased with the government on the cusp of making a significant change. Prime Minister Scott Morrison and Treasurer Josh Frydenberg leave the Reserve Bank of Australia building after meeting with the RBA Governor Philip Lowe in Sydney. Currently, the government assumes pensioners are getting a 3.25 per cent return on any investment over 51,200 and 1.75 per cent on anything less than that. AAP Image/Dean Lewins AAP Deeming is how the government works out the income made from a person's investments regardless of what they really earn. (news.financializer.com). As reported in the news.