1.1.P.157 Pension supplement component for pension bonus

Definition

From 20 September 2009, the pension supplement component for pension bonus (PSCPB) replaced the pension supplement, for the purposes of calculating a pension bonus. The amount of pension bonus is calculated using notional base rate pension and the pension supplement component for pension bonus.

The pension supplement was introduced in 2000 to compensate pensioners for the introduction of the GST.

The pension supplement component for pension bonus is indexed to the CPI each March and September.

Act reference: SSAct section 93H(4) Amount for paragraphs (2)(b) and (3)(b)

Last reviewed: 15 August 2016