How the CPI rate affects your pension

Learn how the Consumer Price Index (CPI) increase affects your pension.

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  • ADF Super
  • CSS
  • DFRDB
  • MilitarySuper
  • PSS
  • PSSap
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On the first payday in January and July each year, we adjust your pension in line with the CPI. The CPI takes into account a range of factors as set by the Australian Bureau of Statistics (ABS). This includes the price of food, clothing, housing, health and transportation. Once the ABS releases the CPI figures, we can determine whether your pension is due for an increase.
We'll send you an email or letter from 23 June 2021 with your CPI update for July 2021.

If you have not been receiving your pension for the full six months before the CPI increase, you'll only receive a proportion of the increase in your pension. For more information, visit the Australian Bureau of Statistics website.


CPI Update for July 2021

June 2021 Calculations

CSS, PSS, MilitarySuper, DFRDB aged under 55

On April 28 2021 the ABS announced the CPI ‘all groups % change for the weighted average of eight capital cities’ number of 117.9 for the March 2021 quarter.  As the March 2021 number of 117.9 is higher than the previous March 2020 quarter figure (116.6) an increase of 1.1% is payable. Note: The September 2020 quarter figure (116.2) is not used as it is lower than the previous quarter.

To arrive at this figure, the following calculation was made.

How the CPI pension adjustment is calculated:

(March 2021 CPI figure) – (March 2020 CPI figure) × 100  = Pension CPI increase
 (March 2020 CPI figure)
Calculation for June 2021
(117.9-116.6) x 100

1.11492%

= 1.1%1

116.6
11.1% When rounded to the nearest tenth of one percent

Follow this link to the ABS website to see the consumer price index rates used in the calculation.

 

DFRDB aged over 55

On April 28 2021 the ABS announced the CPI ‘all groups % change for the weighted average of eight capital cities’ number of 117.9 for the March 2021 quarter.  As the March 2021 number of 117.9 is higher than the previous March 2020 quarter figure (116.6) an increase of 1.1% is payable.

Note: The September 2020 quarter figure (116.2) is not used as it is lower than the previous quarter.

To arrive at this figure, the following calculation was made.

How the CPI pension adjustment is calculated: 

(March 2021 CPI figure) – (March 2020 CPI figure) × 100
= Pension CPI increase
(March 2020 CPI figure)
∴ (117.9 - 116.6) x 100
= 1.11492

= 1.1%2
116.6

2 1.1% when rounded to the nearest tenth of one percent

Follow this link to the ABS website to see the consumer price index rates used in the calculation:

PBLCI increase calculation

On May 05 2021 the ABS announced the Pensioner and Beneficiary Living Cost Indexation (PBLCI) number of 117.9 for the March 2021 quarter. As the March 2021 number of 117.9 is higher than the previous March 2020 quarter figure (117.2) an increase of 0.6% is calculated.

Note: The September 2020 quarter figure (116.5) is not used as it is lower than the previous quarter.

How the PBLCI pension adjustment is calculated: 

(March 2021 LCI figure) – (March 2020 LCI figure) × 100
= LCI increase
(March 2020 LCI figure)
∴ (117.9 - 117.2) x 100
= 0.59372

= 0.6%3
117.2

3 0.6% when rounded to the nearest tenth of one percent

As CPI results in a higher increase DFRDB/DFRB pensioners over the age of 55 will receive an increase of 1.1%

Frequently Asked Questions

Will my pension go down?

No, if the CPI falls or stays the same, your pension will not change.

Are there any other changes to my pension?

No, there are no changes to the amount or date we pay you each fortnight. Your pension will be paid as normal.

Is this connected to the recent tax changes?

No, this is not related to any recent tax changes. We review pensions twice per year in line with the CPI.

What can I do about my living costs?

Stylish retired gentleman

HOW TECHNOLOGY IS CHANGING RETIREMENT

Technology includes every advancement and innovation that’s been applied to solve a problem or meet a need. Over time, these technologies become such a part of life that they go unnoticed. There are a number of ways that technology is changing retirement.

  • Making us more connected
    After the end of full-time work, most people need to expand their social network, and retirees today are no longer limited to connecting with people who live nearby – they can tap into a much larger network of people online at the same stage of life who share the same interests and passions. Our 3rd Act community is an online space where you can access inspiration, guidance and advice to make the most of your retirement.
  • Changing the way we manage and maintain our health
    From prevention, to diagnosis and treatment, technology has created a huge shift from how previous generations managed their health. Technology has enabled the development of more effective drugs, home monitoring devices and telehealth consultations. Check out some of the work being done at CSIRO. 
  • Helping on the financial side
    Technology has also made it possible to learn online about how to manage finances. Online resources like ASIC’s MoneySmart online tools, calculators and resources, or the Australian Tax Office online tools and calculators

CREATING THE RETIREMENT YOU WANT

The Retirement Ready online program is a complete resource for your retirement. You'll learn how to create the retirement you want, and cut through the noise to the essential information and advice that will make a difference for your retirement. It's all in one online program that you can go through at your our own pace, without having to attend a seminar or read a book. Find out more

Ongoing support for your 3rd Act

Visit us at csc.gov.au/Members/Retirement/3rd-act-community 
Any questions? Email us at 3rdAct@csc.gov.au

OUR LOSS AND HARDSHIP SUPPORT TEAM

We know how hard it is to lose a loved one and at CSC we are committed to supporting our members’ families through this time. We’re listening to feedback from our customers and continually adapting and improving our processes to better support our members and their families. 

Our dedicated Loss and Hardship Support team are a team of experts who are here to support the family and loved ones of our members when they pass away. Your next of kin will have a single case manager who will support them through every step from us being notified to paying out any applicable benefits. 

The team can be contacted by phone on (02) 6192 9521 or by email at LHS@csc.gov.au, or we have an online notification form

For more information about what benefits may be payable to your loved ones when you pass away, please read the death benefits factsheet for your scheme. 

Notifying other agencies when you pass away

Your family may also need to contact a number of other agencies and companies when you do pass away, including Centrelink and the Department of Veterans’ Affairs (DVA). 

If you are in receipt of a pension, it’s important that your loved ones contact CSC, Centrelink, and DVA separately as soon as they are ready in order to prevent any overpayment of your pension for your estate.

Our Planning Ahead pack provides an overview of what happens to your CSC superannuation benefits when you pass away, and includes a list of common organisations that your loved ones may need to contact.

PARTNERSHIP WITH LEGACY AUSTRALIA

We’re proud to highlight our partnership with Legacy Australia. With our shared commitment to serving veterans’ families, we’re working to make things easier for those families dealing with grief, loss and hardship.  

In partnership we’ll be better able to help veterans and their families during times of physical, mental and emotional hardship. Together we want to ensure that people and families who have made sacrifices in service to this country are not disadvantaged, and are able to live their lives with dignity and respect. 

 

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