My take on it is that only Pensioners receiving part pension will collect extra due to reduction in interest/deeming rates. All full time Pensioners will receive the usual 6 monthly increase in March based on CPI.
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Retired Airline Pilot and Electrician..
I'm not old, I've just been young a long time....Ken
Since light travels faster than sound, some people appear bright until you hear them speak.
Its to do with lowering the deeming rates. Therefore if you have a bank account tied to deeming rates then it won't be long before the banks lower their interest rate and you will get less interest. Up to now these accounts have been paying better than you can get on an ordinary savings account or term deposit.