Retired Commonwealth public servants and defence force retirees are losing out because their pensions are linked to the Consumer Price Index (CPI) rather than a fair indexation method that accounts for actual cost of living increases.
The Greens believe it is important to develop a fair indexation method that can be applied to all Commonwealth superannuation pensions to allow retirees to maintain their living standards.
The Australian Greens will seek to negotiate with the next government to implement fair indexation for both military and civilian commonwealth superannuation pensions.
The Greens will commission the Australian Bureau of Statistics (ABS) to develop an appropriate indexation measurement for increases to the cost of living for Commonwealth superannuation pensions. We will provide additional resourcing of $2 million to the ABS for this task.