Pensioners no longer fooled by big banks

“CPSA welcomes the actions taken by the big banks today to remedy the pensioner deeming account issue,” Charmaine Crowe, CPSA Policy Coordinator.

“CPSA has been advised by the Australian Banker’s Association that the four big banks will now match Centrelink’s deeming rates on their pensioner deeming accounts, as of today.”

“Pensioners will no longer be left out of pocket as a result of Centrelink’s assumption they’re earning a higher rate of interest on these accounts than what they actually are.”

“CPSA calls on the banks and Minister for Families, Housing, Community Services and Indigenous Affairs Jenny Macklin to improve communication lines to ensure this mishap is not repeated.”

Media contact: 0410 612 182

Charmaine Crowe
Policy Coordinator
Combined Pensioners and Superannuants Association (CPSA)
Level 9, 28 Foveaux Street Surry Hills NSW, 2010
Phone (02) 9281 3588
Mob 0410 612 182
Fax (02) 9281 9716