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 (p.a.).

Date Note A	Partnered rate ($ p.a.)
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 (p.a.).

Date Note C	Standard rate ($ p.a.)	Partnered rate ($ p.a.)
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
20/03/2020	22,375.60	16,866.20
20/09/2020	22,375.60	16,866.20
20/03/2021	22,575.80	17,017.00
20/09/2021	22,937.20	17,290.00
20/03/2022	23,420.80	17,654.00
20/09/2022	24,356.80	18,361.20
20/03/2023	25,259.00	19,039.80
20/09/2023	26,065.00	19,648.20
20/03/2024	26,535.60	20,001.80
20/09/2024	27,224.60	20,521.80

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 above allowable limit, pension reduced by $39.00 a year.