Aged pensioners who had investments with Bridgecorp will be exempt from deeming and may now receive an increase in their pensions, Minister for Families, Community Services and Indigenous Affairs Mal Brough announced yesterday.
Following the appointment of adminstrators to the failed property group and the freezing of its investments, Bridgecorp investors on the aged pension will be exempt from the deeming provisions, Brough said.
"Only the actual income, if any, earned by the investment will be assessed," he said.
In addition, there were also hardship provisions for people in severe financial hardship which may apply to those affected by the Bridgecorp collapse, the Minister said.
Brough urged any pensioners affected by the Bridgecorp collapse to contact Centrelink to test their eligibility.
