Self Funded Retirees
I know there are only about 20% who are fully self funded (and my post will probably go without comment) but I feel after working all my life and paying taxes I think there should be some recognition for those who have scrimped/saved etc to become no burden on the tax payer in their later years.
I do not want any welfare money, that is for those who need it, but I do feel that once a person has say reached 65/70 why should they be paying the same rate of tax as those who are still in the workforce. We are still paying the same rate, medicare levy and also private health insurance and we get no concessions on any utilities etc and the other perks pensioners receive.
If I had my day over again I would have spent my money or hired a smart accountant and gone on a part pension, as many have done.
There are other nations which pay a pension to everyone on retirement regardless of circumstances. This is of course, an acknowledgement of what that person has contributed, as you say, via taxes, etc.
I think there is some of merit in the idea.
Edit to add:
I don't necessarily advocate a full pension.
The pensions paid by for example, the Italian Govt, to citizens who have emigrated to other countries, is not by any means the full pension, but a very small amount as far as I know.
As for SFRs in general, I think they at the least, should get the usual concessions on rates energy, etc. Which by the way, was from memory, part of the election campaign from the Coalition...or did they introduce it during their term??
BigVal or Innes may know.