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Technical update: Age pension & Aged care (Zogg v2)
Pathfinder Zogg v2: Released
Notes published
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Overview
Pathfinder’s Age pension and Aged care assumptions for 2023/24 have been updated in accordance with the latest published figures.
Age pension
Age pension assumptions are based on ‘A guide to Australian Government payments 20 September 2023 to 31 December 2023' by Service Australia. These include change to payment, pension supplement, and energy supplement amounts.
We index these figures by our assumed AWOTE (4.0% until 2024/25, then 3.5%) for future years.
Rate ($/fortnight) | Old | New |
Single | 936.8 | 1002.5 |
Couple (each) | 706.2 | 755.7 |
Single maximum supplement | 75.6 | 80.1 |
Couple maximum supplement (each) | 57 | 60.4 |
Single energy supplement | 14.1 | 14.1 |
Couple energy supplement (each) | 10.6 | 10.6 |
Aged care
Aged care’s ‘maximum permissible interest rate’ was updated based on ‘Schedule of fees and charges for residential and home care from 20 September 2023’ by the Department of Health and Aged Care.
This is updated quarterly.
For the period | Maximum permissible interest rate |
|---|---|
1 Jul 2023 - 30 Sep 2023 (Old) | 7.9 |
1 Oct 2023 - 31 Dec 2023 (New) | 8.15 |
Did you miss our previous update?
At the end of August, we updated our subscription pricing and offering: https://help.optimopathfinder.com.au/news/new-pathfinder-release-zogg
New assumptions: Refresh your results!
For consistency, refresh your results by clicking the Start solve button for scenarios with existing results created on or before the release date. If you are unsure when your results were created, see How to check when your results were created. Note that some numbers in your results may change when these new assumptions are applied.