Should deeming rates drop again?

The Meeting Place > Let's Talk Retirement > Should deeming rates drop again?

4 yrs ago

Now that the RBA has dropped the cash rate again by 0.25% surely the Government should be dropping the 3% deeming rate. Our Super has just had the entire years gains wiped out and Retirees can't sustain this type of loss along with the Government gouging from the assets.

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17 comments

Nomad1946

4 yrs ago

The current deeming rate is grossly over the top. The best rate being offered by the Banks is circa 1.5% for balances greater than $10,000. With this latest RBA action I reckon this rate will fall.

I see that the deeming rate should be reduced to 1.0% at the least.

Tricky

4 yrs ago

Deeming rates should be the same as current Fixed Term deposit rates

PlanB

4 yrs ago

Dam right Tricky and we have been robbed for far too long - deeming rates have been so darn high -- no way we have been able to get 3.5%

Nomad1946

4 yrs ago

Like I said Tricky, 1% should be the maximum.

Briar

4 yrs ago

Personally I think the deeming rate should be fixed to the RBA rate, so that every time the bank rate changes, so does the deeming rate. But that might be a bit of a too simple answer as I am sure the government are rubbing their hands at the money they retain by keeping the deeming rate as high as it is.

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Should deeming rates drop again?

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