The deeming rate isn't fair. Definiely it should be dropped. Also, the system of one deeming rate for one amount of money, and another for an additional amount of money, is too complicated. Nearly fried my brain when I had to work it out! Plus the rate should be closer to bank interest. It is killing people who rely on savings/investments. A level of unfairness built into the system. Not the Lucky Country for some. 

The government made a big song and dance about the banks passing on the full rate cut of 0.25% yet they are "reviewing" (read for "reviewing" that nothing will be done and they hope it will go away) the deeming rate. There are some people who are achieving a rate higher than the deeming rate but these are very few and very far between. The RBA has made a decision to stimulate the economy and by leaving deeming rates high, the government is saying that they don't accept the RBA's decision.

Can someone a lot smarter than me work out how much dropping the deeming rate in line with the RBA will actually cost the government in an increase in pensions. My gut feeling is that those who are most affected by keeping the deeming rate high are ineligible for an age pension because of the asset test.

Most definitely, - not Government's money anyway - they have none it is all our taxes

Witbout question it should be dropped, will they do it to any useful extent, unlikely with this lot of stinking robbers in government.

The LNP Government are absolute hyprocites when it comes to Deeming rates on fixed term deposits, SCOMO put out a statement encouraging banks to pass on interest rate cuts.

SCOMO then comes out with a statement encouraging morgage holders to stimulate the economy by spending these monies received through the cuts.

SCOMO will not pass on DEEMING rate cuts to over 60,000 pensioners, part pensioners and self funded retirees who would put this money back into the economy. WTF.

The figures of 60,000 comes from SMH nd AFR article published 2019.

They are hypocrites and can not be trusted.

It is an absolute fraud the government is receiving a benefit ripping off and deceiving Australia's treasured Senior Citizens.

Other areas which make the pension stoppages by the government spitful and vindictive are the $304 max earnings a fortnight when will this be adjusted to reflect the increase in the minimum wage increase, and any excess earning above this amount are penalised by the loss of 50%,  if these items reflected societies earnings and tax concessions, tax breaks, tax credits and other allowances, As well as adjusting the deeming rate penalties, we would not need a pension increase OR BETTER STILL JUST SHUT DOWN CENTERLINK AND HAVE A UNIVERSAL PENSION .

Of course the deeming rates should reduce by half at least. 

In these days of high speed computers and data collection from finiancial institutions deeming rates should go the way of the horse and dray. They should be using ACTUAL data that they already get from financial institutions.

Damn right the government should cut the deeming rate! The deeming rate should not be more than the going cash rate.

This bloody government is using pensioners and the like as front line troops to try and pull this country out of the sh-t! 

It's way past time this smirking assassin we have for a priime minister, actually does something instead of spouting out all the double talk. Nothing truer than what the The American Indians said all that time ago - and the same thing still applies...

'White man speaks with forked tounge!' 

I commented on this a little time ago.

I thought it very strange that the government jumped in previously when they did. It was obvious at the time to blind Freddy that the rates were about to fall again. "We'd better do it now", they must have thought, "or it's going to cost us a lot more. Better leave it to the pensioner mugs to carry that."

And here we are again.

What it really needs is a sytem that automatically changes the deeming rates in line with the RBA cash rate.
Also, the levels at which the rates change and steps up to a higher rate is aritificial. Who wants to risk money in the stock market or other "high return" environments when you may have been retired for 10 or 15 years and savings are dwindling? If they are detirmined to have a two-tier rate, then a change in the tier would be more appropriate at around $200,000.

Better still, a universal pension rate, like othe similar countries such as NZ and, I think, the UK.
Save so much money for the government and therefore the taxpayer by removing much of the work from Centrelink in respect of the "Older Australians".

We the forgotten class are being well and truly conned.
I've voted libs all my life, but not any more. They've changed to extreme right wing conservatives working for the very rich who don't want to risk losing a cent of the income and assets. They've lost hold of the real meaning of liberal. Trouble is, I don't really trust any of the alternatives.

The LNP government are abusive towards pensioners and part pensioners and at times behave like an organised crime group ripping off the elderly.

It is all parties over the years not just one.

When the official Bank of the Government, the Reserve Bank, changes interest rates for the good of the economy there should be an automatic program installed onto the Centrelink computers to also adjust the pension deeming rate.

Just think of the extra money us pensioners are handing to the Government by way of excessive deeming rates.

the deeming rate should be abolished. how many pensioners can acheive the deeming rate, I certainly cant. we should be accountable for our actual earnings not some made up mythical utopian bullshit figure conjured up by the thieves in Canberra.