Advice

Any changes to deeming rates likely to be huge for almost all retirees

February 5 2024 - 4:00am
The concept of deeming gave pensioners a strong incentive to improve their financial literacy. Photo Shutterstock
The concept of deeming gave pensioners a strong incentive to improve their financial literacy. Photo Shutterstock

Deeming rates are shaping up as a big issue as we approach the May budget. Life expectancies are rising, the number of retirees is growing, and deeming rates affect almost every one of them. They affect the rate of pension paid to income-tested pensioners, aged care fees for everybody, including self-funded retirees, and eligibility for the Commonwealth Seniors Health Card.

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