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Claims deeming rates are ripping off pensioners

Pensioner groups have the Morrison Government squarely in their sights demanding that the deeming rate finally be dropped after four long years.

When applying the income test to pensions the Commonwealth deems that any savings over $51,200 are earning 3.25 per cent, never mind that there’s not a bank in the country that offers such generous returns.

National Seniors chief advocate Ian Henschke tells Mark it is time the deeming rate was set independent of politicians.

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