May you live in interesting times


The last Venice Biennale was inauspiciously titled ‘May You Live in Interesting Times’. The expression evoked the idea of challenging or even ‘menacing’ times. By the time the Biennale ended in November 2019, a pandemic was almost upon us.

We are still in the grips of this pandemic more than two years later. Consumers and businesses have had to adapt. Economists have also had to adapt because forecasting has become more uncertain than any time in our lives. And indeed, events over recent months warrant an update to our forecasts. We layout our updated views for 2022 in this week’s economic commentary.

Download the 24 January 2022 – Weekly Economic Commentary

Most income streams are sourced from account based pensions and insurance companies (annuities) with the same and concessional tax structure for both.
Technical resource
The rate of social security payments are affected by an asset and income test. Generally, the test that results in a lower payment is what determines the rate payable.
Technical resource


This document has been created by Westpac Financial Services Limited (ABN 20 000 241 127, AFSL 233716). It provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such. This information has been prepared without taking account of your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation and needs. Projections given above are predicative in character. Whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not consider known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This document may contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of or endorses any such material. Except where contrary to law, Westpac Financial Services Limited intends by this notice to exclude liability for this material. Information current as at 10 December 2021. © Westpac Financial Services Limited 2021.