there is also a pension supplement, and clean energy supplement added to the normal age pension each fortnight
in addition there is a seniors supplement of 1284 for couples, with a 1/4 paid quarterly and a clean energy advance of 250 (singles) paid yearly
they also need to advise their energy company of their pension for a small concession of about $60 a quarter...differs in each state
if you had one million earning 4.4% that is what a couple would collect under your scenario on the pension no wonder people spend up and have no savings by the time of retirement, when they can get such a lucrative deal for nothing
