Both sides of politics will “shield” pensioners from interest rate rises, by freezing deeming rates for another two years.

Deeming rates were reduced during the pandemic, they’ll remain at the same level until 2024, regardless of who wins the election.

It means part-pensioners will maintain their social security benefits, even if they earn income from investments, like term deposits.

Press PLAY to hear National Seniors Australia’s Ian Henschke reaction to today’s announcement.