The electorate of Cowper is a big winner in the Federal Government's decision to cut deeming rates.
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Deeming rates are used to estimate how much people earn on their financial investments, including pensioners.
The deeming rate on the first $51,800 of a single pensioner's financial investments - and the first $86,200 of a couple - will drop from 1.75 per cent to 1 per cent.
The deeming rate for balances above those amounts will go from 3.25 per cent down to 3 per cent.
Only four electorates have more than 10,000 pensioners affected by deeming rates and Cowper tops the lot with 11,528 people who will see $800 more a year, or couples can expect to receive $1000 more in their pockets each year.
Member for Cowper Pat Conaghan said it was good news for locals.
"About a quarter of all ages pensioners are affected by deeming rates but the Cowper electorate has the biggest numbers in the country," Mr Conaghan said.
Mr Conaghan described deeming rates as a simple calculation tool based on inputs like interest rates and and share market returns.
He said deeming rates were designed to make things simpler for pensioners.
"Without deeming rates, Centrelink calculates how much a pensioner is deemed to have earned from their investments and adjusts fortnightly pension payments to reflect this deemed income," Mr Conaghan said.
The Reserve Bank's two consecutive interest rate cuts have taken its cash rate to a record low of one per cent.
While the interest rate cut has been good news for mortgage holders it has spelled bad news for retirees living off their savings.
Financial planner Chris Young from Morgans Financial said with interest rates so low it is becoming "harder to generate a return on investment".
Interest rates on term deposits have plummeted and for those pensioners who are reliant on banks for their investment income have seen their pensions decline in relative terms.
Mr Young said he remained "cautiously optimistic" whilst unemployment was low about the future of the economy.
"In relation to the economy, we expect slow growth to continue and we are keeping a close eye on the direction of the rate of unemployment and inflation."
