5.2.2.10 Maximum basic rates of pension - July 1909 to present date

Summary

This topic covers only the MBR of pension, also known as the maximum rate of the base pension.

This topic contains 2 tables of pension rates covering 2 periods:

Table Number Explanation
1 1 July 1909 to 13 November 1961
2 14 November 1963, when a standard rate was introduced, to present date

Table 1: Maximum basic rates of pension from 1 July 1909 to 5 October 1961

The table below shows the rates in dollars per annum.

Date Note A Partnered rate
01/07/1909 52.00
12/10/1916 65.00
01/01/1920 78.00
13/09/1923 91.00
08/10/1925 104.00
23/07/1931 91.00
13/10/1932 78.00
26/10/1933 91.00
04/07/1935 93.60
24/09/1936 98.80
09/09/1937 104.00
26/12/1940 109.20
03/04/1941 111.80
11/12/1941 122.20
02/04/1942 130.00
01/10/1942 132.60
07/01/1943 135.20
01/04/1943 137.80
05/08/1943 140.40
05/07/1945 169.00
03/07/1947 195.00
21/10/1948 221.00
02/11/1950 260.00
01/11/1951 312.00
02/10/1952 351.00
29/10/1953 364.00
27/10/1955 416.00
24/10/1957 455.00
08/10/1959 494.00
06/10/1960 520.00
05/10/1961 546.00

Notes for Table 1

Note Explanation
A The dates on which the rates were first paid.

Table 2: Maximum basic rates of pension from 14 November 1963 to present date

The table below shows the rates in dollars per annum.

Date Note C Standard rate Partnered rate
14/11/1963 598.00 546.00
01/10/1964 624.00 572.00
13/10/1966 Note D 676.00 611.00
10/10/1968 728.00 650.00
09/10/1969 780.00 689.00
08/10/1970 806.00 715.00 Note E
08/04/1971 832.00 Note F 741.00 Note F
07/10/1971 897.00 Note F 793.00 Note F
04/05/1972 949.00 832.00
05/10/1972 1,040.00 897.00 Note G
14/12/1972 1,118.00 975.00
04/10/1973 1,196.00 1,053.00
04/04/1974 1,352.00 1,183.00
08/08/1974 1,612.00 1,339.00
01/05/1975 1,872.00 1,560.00
13/11/1975 2,015.00 1,677.00
13/05/1976 2,145.00 Note H 1,781.00 Note H
11/11/1976 2,262.00 1,885.00
12/05/1977 2,449.20 2,041.00
10/11/1977 2,563.60 2,137.20
11/05/1978 2,675.40 2,230.80
09/11/1978 2,766.40 Note I 2,306.20 Note I
08/11/1979 3,010.80 2,509.00 Note J
08/05/1980 3,174.60 2,644.20
06/11/1980 3,333.20 2,776.80
07/05/1981 3,465.80 2,888.60
05/11/1981 3,624.40 3,021.20
06/05/1982 3,855.80 3,213.60
04/11/1982 4,017.00 3,348.80
05/05/1983 4,282.20 3,569.80
03/11/1983 4,466.80 3,723.20
03/05/1984 4,648.80 3,876.60
01/11/1984 4,778.80 3,985.80
02/05/1985 4,903.60 4,089.80
14/11/1985 5,090.80 4,245.80
01/05/1986 5,309.20 4,427.80
25/12/1986 Note K 5,522.40 4,604.60
25/06/1987 5,831.80 4,862.00
24/12/1987 6,037.20 5,031.00
23/06/1988 6,242.60 5,202.60
22/12/1988 6,461.00 5,384.60
22/06/1989 6,718.40 5,600.40
23/11/1989 Note L 6,947.20 5,790.20
26/04/1990 7,342.40 6,120.40
27/09/1990 7,584.20 6,323.20
28/03/1991 7,841.60 6,539.00
26/09/1991 7,841.60 6,539.00
26/03/1992 7,958.60 6,637.80
24/09/1992 7,958.60 6,637.80
28/01/1993 Note M 8,114.60 6,767.80
20/09/1993 Note N 8,221.20 6,856.20
20/03/1994 8,270.60 6,897.80
20/09/1994 8,361.60 6,973.20
20/03/1995 8,478.60 7,072.00
20/09/1995 8,733.40 7,285.20
20/03/1996 8,907.60 7,430.80
20/09/1996 9,006.40 7,511.40
20/03/1997 9,042.80 7,542.60
20/09/1997 9,042.80 7,542.60
20/03/1998 9,219.60 7,690.80
20/09/1998 9,289.80 7,750.60
20/03/1999 9,396.40 7,841.60
20/09/1999 9,529.00 7,953.40
20/03/2000 9,672.00 8,073.00
01/07/2000 9,672.00 8,073.00
20/09/2000 9,851.40 8,223.80
20/03/2001 10,049.00 8,390.20
20/09/2001 10,262.20 8,569.60
20/03/2002 10,550.80 8,811.40
20/09/2002 10,740.60 8,970.00
20/03/2003 11,018.80 9,201.40
20/09/2003 11,338.60 9,469.20
20/03/2004 11,629.80 9,713.60
20/09/2004 11,793.60 9,848.80
20/03/2005 11,934.00 9,965.80
20/09/2005 12,256.40 10,233.60
20/03/2006 12,529.40 10,462.40
20/09/2006 12,841.40 10,725.00
20/03/2007 13,176.80 11,003.20
20/09/2007 Note O 13,499.20 11,273.60
20/03/2008 13,728.00 11,466.00
20/09/2008 14,112.80 11,785.80
20/03/2009 14,307.80 11,949.60
20/09/2009 16,010.80 12,069.20
20/03/2010 16,749.20 12,625.60
20/09/2010 17,118.40 12,903.80
20/03/2011 17,443.40 13,148.20
20/09/2011 17,914.00 13,504.40
20/03/2012 18,077.80 13,626.60
20/09/2012 18,512.00 13,954.20
20/03/2013 19,076.20 14,380.60
20/09/2013 19,544.20 14,731.60
20/03/2014 19,916.00 15,012.40
20/09/2014 20,194.20 15,223.00
20/03/2015 20,337.20 15,329.60
20/09/2015 20,498.40 15,451.80
20/03/2016 20,664.80 15,576.60
20/09/2016 20,745.40 15,639.00
20/03/2017 21,015.80 15,841.80
20/09/2017 21,164.00 15,953.60
20/03/2018 21,481.20 16,192.80
20/09/2018 21,694.40 16,354.00
20/03/2019 21,933.60 16,533.40
20/09/2019 22,110.40 16,666.00

Notes for Table 2

Note Explanation
C The dates in the table immediately above, are:
  • where the date shown is before 20 September 1993, the common fortnightly Thursday pension pay day on which the base pension was first paid at the corresponding maximum annual rate shown
  • where the date shown is between 20 September 1993 and 30 June 1999, both inclusive, the date of indexation, on the first common Thursday pension pay day after which the base pension was first paid at the corresponding maximum annual rate shown, and
  • where the date shown is on or after 1 July 1999, the date on and from which the corresponding maximum annual rate shown has been payable, at the equivalent daily rate, for each and every day, within a pensioner's fortnightly entitlement period, for which the pensioner is both qualified and payable.
D From 7 August 1968 Age and invalid pensions were regarded as being paid in fortnightly instalments of one twenty-sixth of the annual rate, payment being made for each instalment falling due while eligibility existed. This was based on F174.103, C1707/45 issued by the Secretary on 7 August 1968.
E Standard rate became payable to married Age and invalid pensioners where the living expenses of a wife or husband were or were likely to be greater than they would otherwise be by reason that they were unable, as a result of the illness or infirmity of either or both of them, to live together in a matrimonial home (subsection 33(2) of the 1947 Act applied).
F Maximum increase paid where means as assessed less than $520.00. Amount of increase reduced by half of means as assessed in excess of $520.00.
G WP replaced wife's allowance. It became payable to the wife of an Age or invalid pensioner at the same rate and subject to the same means test as Age and invalid pensions. Subsection 33(2) of the 1947 Act did not apply to WP.
H Pension rates became subject to automatic increases from 1 May and 1 November each year, based on movements in the CPI.
I Pension increases above the May 1978 rates were payable to persons aged 70 years or more, subject to the income test.
J Standard rate pension became payable to wife pensioners under subsection 38(2) of the 1947 Act, a similar provision to subsection 33(2) of the 1947 Act (see note (4)).
K Automatic CPI based increases in pension rates deferred for 42 days, the operative dates now being 13 December and 13 June each year.
L Operative dates for automatic CPI based pension rate increase advanced by 84 days in 3 stages, each of 28 days. Future dates from which automatic increases will apply are 15 November 1989, 18 April 1990 and each successive 20 September and 20 March.
M Ad hoc increase to pension in order to maintain pension at 25% of MTAWE.
N Withdrawal rate of pension asset test eased. For every $1,000 of assets (1.1.A.290) above allowable limit, pension reduced by $78.00 per annum.
O Withdrawal rate of pension asset test eased. For every $1,000 of assets (1.1.A.290) above allowable limit, pension reduced by $39.00 a year.
Last reviewed: 20 September 2019