Good afternoon,

Qantas has delivered a $2.08bn underlying profit, down 16 per cent on last year’s record result in what the airline has described as “getting the balance right”.

"Good luck to him – I would not want to be doing that job" is how one fund manager summed up the mammoth task awaiting Bernard Reilly as he gets set to take over as the new boss at the once-great Perpetual.

And the age pension and other government payments are scheduled to increase next month. Here’s what to expect.