Your CPI pension increase for 2018

How the increase is calculated

The ESSSuper pension adjustment is linked to Australia’s Consumer Price Index (CPI). The figures are provided by the Australian Bureau of Statistics (ABS) which measures inflation. The ABS compares any price changes on selected group of consumer goods and services typically purchased by ordinary Australian households.

A calculation is performed to determine if your pension will rise based on the CPI figures released by the ABS. If the new CPI is higher than the previous six monthly CPI, your pension will increase. The adjustments to your pension are made six months retrospectively which means the CPI increase for June 2018 is based on rises in the CPI from July to December 2017.

ESSSuper does not add or subtract any amount from this rate – we pass on the full CPI increase to you.

When your payments are adjusted

Your pension payments are adjusted twice yearly – on the first pay day in December and June each year. This follows increases in the CPI for all capital cities, and adjustments are made six months retrospectively – that is, the CPI increase for June 2018 is based on rises in the CPI from July to December 2017.

The table shows the CPI increases over the past few years and the date that the increases applied to pension payments: