The assumed rate of return on personal investments, set by the government for the purposes of calculating social security benefits.
pensions will gain about $7 a fortnight through a long-awaited cut in deeming rates
Example sentencesExamples
The deeming rate reflects the standard rates of return that pensioners can earn from their financial assets.
They accused him of misleading the public with political spin, because the deeming rate change was a standard procedure of government.
The deeming rates that are calculated on retirement saving are more generous than the deeming rates that apply to assets held outside of super.
The government will make the way deeming rates are calculated uniform.
Deeming rates reflect the standard rates of return that pensioners can earn from their financial assets.
Income-tested part-pensioners will receive a double boost to their payments from today as lower deeming rates come into effect.
The reduced deeming rates mean that income-upport pensioners with financial assets such as cash, shares, and bank accounts will have less income included in their assessment.
They will see the slight increase in their payments when the government lowers social security deeming rates.
Their chief executive said that official deeming rates, used to determine age pension levels, should fall.
The lower deeming rate will decrease from 3.0 per cent to 2.5 per cent for financial investments up to $45,400 for single pensioners or $75,600 for a couple.