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Pension cuts that really harm

How about we share a coffee?

How about we share a coffee?

Pensioner groups have failed in their duty—care of pensioners

Now will some people wake up?

Nearly 700,000 pensioners will find out close to Christmas if they’ll face cuts to their pensions because of their investments. A new assets test will come into effect on January 1, but News Corp reports that letters confirming individual cases won’t be sent until the weeks before Christmas.

Morning Mail began banging the drum about just how seriously pensioners on part or full pensions will be assets reassessed since April 14 2016. Read that article here. It was the Abbott government in June of 2015 that passed into law this 100% grab. MSM seemed disinterested in this sly impost and pensioner advocacy groups failed in their duty to explain the ramifications to their members. TV last night canvassed those at bowling clubs about the changes, not one pensioners knew of the changes about to happen. This stupid move will have those who saved all their lives but still need a part pension “top up” to bring their standards up to the official poverty line will deplete their savings and thus be eligible for full pensions. The unintended consequences will be old age pensioners reducing their assets (cash) and stashing it under the mattress. Be prepared for escalating bashing of the elderly for the assumed loot. We are indeed led by idiots!

Schedule 3 proposes to raise the assets test thresholds and increase the taper rate from $1.50 to $3.00 for every $1,000 in assets over the relevant threshold. This arrangement would be the same as that which applied prior to 2007. The following tables set out the current assets test thresholds and limits applicable in different circumstances and the thresholds and limits that would apply from 1 January 2017 under the Bill’s provisions.


Source: AAP

Christmas wait to see if pension to be cut

The pension will be cut by $3 a fortnight for every $1000 of assets beyond the new thresholds.

Human Services Minister Alan Tudge says those likely to be affected will be sent a first letter in the coming weeks, as will those just outside the threshold. “It will outline the new assets thresholds. In December, another letter will be sent to those impacted with specific details on how their payment will change,” he told News.

Pensioners can use an online tool to estimate the impact.

The asset-free area will be $375,000 for homeowner couples; $450,000 for single non-homeowners, and $575,000 for non-homeowner couples.

Around 166,000 pensioners will receive a modest increase, but the majority of the four million pensioners will not be affected.

{ 14 comments… add one }
  • Pensioner Pete 17/10/2016, 7:22 am

    And the cuts to the politicians pensions was exactly?

    • Zoltan 17/10/2016, 7:46 am

      Ah, those are negative cuts Pete. Politicians are just full of snarge.

      • Pensioner Pete 17/10/2016, 8:53 am

        Yeah, and best I can manage after working from 14 years of age is a Seniors Health Card, bastards they all.

  • Zoltan 17/10/2016, 7:48 am

    My main fear about becoming a pensioner in 3 years is a very real one. Is it compulsory to wear one of those rotten caps as per the photo?

    • Robert TG 17/10/2016, 8:46 am

      Have no fear, in three years time there may not be a pension.

  • Peter Sandery 17/10/2016, 7:56 am

    No, Z, I, for in stance, wear a straw hat, known in the past as a donkey’s breakfast, but then I am not a Southerner

    • Zoltan 17/10/2016, 8:11 am

      Phew. Thanks for the reassurances Pete. I’ll stick with the “Bunnings boater”

  • Joe Blogs 17/10/2016, 8:36 am

    Hey, Tudge, you dickhead. Start with the reffos, not the people whose taxes built the joint.

    • Robert TG 17/10/2016, 8:50 am

      Our government spent $900 Million dollars to import an additional 12,000 needy Rapefugees into our country, so of course they have to kick off Australians from the pension to make room for the new arrivals. Each year about 300,000 people immigrate to Australia, many go onto the dole.

      • Honeybadger 17/10/2016, 9:42 am

        Yep don’t look after the citizens who have paid their taxes but give it away to third world migrants who have never, and will never, pay taxes and will be a drain on Centrelink for ever.

  • Robert TG 17/10/2016, 8:52 am

    This is just the Liberal party’s way of beating their supporters away and into the arms of Labor.

    • Lorraine 17/10/2016, 6:09 pm

      Not Labor Robert we have alternatives like Pauline Hanson and perhaps soon another new conservative party were we will have open arms for all voters

  • Topsy 17/10/2016, 9:09 am

    I, perhaps, would not mind so much about the government taking more pension from part pensioners if it wasn’t the case that so much sacrifice was made to accumulate assets, which for most people, do not make us millionaires of anywhere near that. So we will lose more of our part pension, which will not put us on the breadline but will make our highly expensive private health insurance – which we need due to a dangerous medical condition one of us has – that much harder. You try to do the right thing and are penalised for it. BUT politicians give up nothing. They take, take from the taxpayer, develop rorts of all sorts in order to use our money instead of their own and on top of that, create more politicians – Canberra – for us to meet the cost of.
    Time to get rid of politicians and bureaucrats, the majority of, but how?
    As for pensioner groups – what pensioner groups one has to ask? Perhaps if they put on another stunt like the one in Melbourne a few years ago of stripping in the heart of the city, stopping traffic and so on, pensioners might just take notice. Trouble is so many older people lose interest and the ability to assimilate information which effects them directly.
    This afternoon before a senate committee which looks into spending of various department appears the plethora of useless global warming entities which cost us all a bomb and for no purpose other than to line the pocket of those who are pushing the global warming scam.
    Turnbull, Abbott (disappointingly) the whole box and dice of them should be wiped out and their generous superannuation, salaries, rorts and so on shared among those of us retired people who actually worked our guts out for this country. If only!

  • vecchio21 17/10/2016, 10:05 am

    Does the fifty percent reduction in the value of assets funding an “allocated pension”, as established in 2007, still apply?

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