Age pensioners set to get a pay rise

Pensioners will have two reasons to smile in September with the scheduled increase to the pension coinciding with the deeming rate cuts.

Age pensioners set to get a pay rise

Single pensioners could be up to $804 a year better off and couples $1000 a year better off after September’s new deeming rate drop, new modelling from AMP shows.

The deeming rate change, which will be backdated to the start of the financial year, will mean single pensioners will receive a lump sum of up to $178 and couples up to $234 once the change kicks in.

Individuals will receive a maximum fortnightly pension boost of $30.92 for non-homeowners with financial investments up to $540,000, while non-homeowning couples with a maximum $670,000 in total investments could receive a fortnightly pension increase of $40.50.

Deeming applies to financial investments such as listed and unlisted shares, insurance bonds and saving and term deposit accounts, among other assets.

“Deemed income is added to a recipient's social security assessable income from all other sources and the total is then used to calculate the rate of social security entitlement under the income test,” said AMP technical strategy manager John Perri.

The deeming rate change date will coincide with a regular scheduled increase to the Age Pension.

“Pensioners will have two reasons to smile in September with the scheduled increase to the pension coinciding with the deeming rate cuts,” said Mr Perri. “Although the changes for the vast majority of pensioners are relatively small, having some extra money in their budgets to tackle cost-of-living expenses is a positive thing.

“The pension is means tested and looks at a single or couples’ level of financial investments, income and assets, to determine how much they receive each fortnight.

“Having a good understanding of how many investments and other assets you can hold before your pension is impacted, and by how much, is a key tool to help plan for retirement.”

Are you looking forward to the deeming rate change? Will you then be eligible for the Age Pension?

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    COMMENTS

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    Blinky
    26th Aug 2019
    9:57am
    That is good news. The one "missing link" to fix the pension is to increase the asset test threshold as it is too low and punishes people with small super or other savings.
    jackie
    26th Aug 2019
    12:12pm
    Blinky, when something sounds too good to be true, it always is. Think about it. This increase is just political propaganda to look good against the opposition so the senseless keep voting them in.

    A Government that wants to include the home as a pension asset.

    A Government that is thinking about providing a pension scheme against the home.

    A Government that wants all younger Australians to work till 70 and more because we all live longer than ever.

    A Government that advice all Australians should save for their retirement.

    A Government that constantly advises the pension is welfare Australians should not expect despite taking a pension himself before 70.

    A Government that is threatening to come after pensioners for their money.

    A Government that chases unfounded debt going back over 20 years with robot debt.

    A Government that wants all pensioners to be on the Cashless Card because if they can do it to some they can also do it for everyone.

    It costs more to keep politicians on the gravy train and the tax cuts for their elitist's puppet masters than our entire welfare system.

    Now that's Morrison's Fair Go!
    Anonymous
    26th Aug 2019
    1:05pm
    no matter what you say Jackie Morrison is still far better than the alternative and the silent majority will again say so in 3 years time - Australia dodged a massive bullet/s in May
    ray from Bondi
    26th Aug 2019
    1:24pm
    Jackie, I agree 100% whatever the government gives with one hand is taken back double with the other, just watch there will be a media campaign convincing everybody not on a pension that pensioners with houses are causing all the problems.
    jackie
    26th Aug 2019
    2:31pm
    bob Menzies, Today’s Liberal Party does not have the same values and policies of Robert Menzies. He believed in unions, creating jobs, and making it possible for every Australian to own a home as well as social security for Australians.

    This Government only supports Franking Credits but look out for the home because they are after that.
    Misty
    26th Aug 2019
    2:35pm
    Ironic isn't it that the govt won the election partly because of the Franking Credits and now they are trying to take them away. I have just been listening to a shareholder speaking to Davis Spears on Sky News, Alan Goffin , Chairman of Sharehioder's Association and he is not a happy chappie..
    jackie
    26th Aug 2019
    2:41pm
    ray from Bondi, pensioners didn’t inflate the property market. The Government did by allowing it shonky land developers to do it. Now they aren’t accountable for those shoddy high rise apartments.

    It wants pensioners’ homes for land developers to exploit more buyers. I hope the Asian and Indian customers wake up to the scam and realise Australia is no longer a fair dinkum place any longer.
    Oldchick
    1st Sep 2019
    4:03pm
    I agree totally with you Jackie, you couldn’t have worded it better. This lot of buffoons we have in Government have one agenda - give to the rich and take from the poor. ScoMo and his pompous horde of merry men have no idea how the ‘real’ people live. Go and get a job he says. Yeh, right! Not too many firms want to employ anyone with any form of disability or anyone over fifty. Recent figures show that probably more than 50% of those on Newstart are over 50’s who want to work but either can’t get a job despite all efforts, or can’t due to ill health. Our great leader may be religious on Sunday’s but the rest of the week he’s just the moron who knifed his ‘mate’ in the back whilst facing the camera and saying he supported Turnbull all the way. What chance do the rest of us have.
    Oldchick
    1st Sep 2019
    4:24pm
    The Care Bear, we’re not all Drones with no intellect. Circumstances so often dictate how well off you are in retirement and trust me being a woman can have a massive detrimental effect. I should know. I started work at 14 while still at school. Finished school on the Friday, started work on the Monday. Never had a day out of work until I made the ‘unselfish’ decision to give up to look after my very ill Mother who had severe dementia and mobility issues. I did that 24/7, 365 days a year, single handedly for almost 8 years. Not an easy gig my friend. By the time Mum passed away I was so sick myself I was accessed as being able to do less than 8hrs work per week. I still did it, albeit if some of it was only voluntary work because that was all I could get. I saved hard, had my first home paid for by the age of 31. This despite the fact I started with the company age 16 but I was a WOMAN, couldn’t join Super until I was 25. The men could join straight away, the women were expected to leave, have babies and not come back. I worked in a man’s domain for much of my career, purchasing supply and blend scheduling for an oil company. Not once did I earn over $35k per year, while the guys doing the same job interstate we’re getting double that - and many of them Drones like the ones you mention. Who was doing your work while you were busy counting your cash? We weren’t all born with the same level of intellect either my friend. It doesn’t mean people are any more lazy, but it does often reduce their earning capacity. Maybe you were one of the lucky ones - your brawn saw your earning capacity increased, not your brain.
    Buggsie
    26th Aug 2019
    10:01am
    We are being conned again. What a bonus! A drop of 0.25% in the deeming rate, which will now be ONLY 3 times the cash rate. How generous can our LNP government get? Coupled with the discredited robo-debt process now to be targeted at age pensioners, why wouldn't we all be ecstatically happy with our treatment by Centrelink?
    Triss
    26th Aug 2019
    12:03pm
    I agree with you, Buggsie, we’re being treated as a good laugh for politicians. Can’t knock anything off pensioners’ money, and 0.25% is nothing, because pollies’ 2% rise in salary has to come first.
    ray from Bondi
    26th Aug 2019
    1:27pm
    join me in my prostration to our Orwellian Brother.
    Paddington
    26th Aug 2019
    10:08am
    I cannot see what is happening for home owning couples? Anything is good, however, and people with no home or assets are the poorest.
    TREBOR
    26th Aug 2019
    7:00pm
    Nor can I - we just carry on - with a mortgage, BTW..... cheaper than rent, but still - no dollars thrown that way...
    Fair Dinkum
    26th Aug 2019
    10:28am
    Why do businesses and government use marketing like $55.99,$843.99 $77. 22 this is marketing ploy some people see it and think it only $9.00 when infact 9.99 is really $10.00 similar to other amounts We don't have 1 2 or 3 cents anymore so why are they still quoting this in prices. Big bargain new car now only $34999. when in reality it is $35.000 but some people only see $34000. so what garbage is the government telling us that the pension is going to rise by $30.92 when in fact it is going up by $30.90
    KSS
    26th Aug 2019
    12:57pm
    Not true Fair Dinkum. If you pay for something that is advertised as say $9.99 with anything other than cash, you will be charged $9.99 an extra one cent its true. But if that 'thing' cost $9.22 and you pay cash, you will only pay $9.20 thereby saving 2c. Pay any other way and you will pay the advertised amount.

    Given the pension rise is NOT paid over the counter in cash, you will receive the full $30.92 into your bank account (if that is what the rise will be for you). And just keep in mind that that figure will NOT be a universal amoiunt because people have different amounts of assessible assets. The $30.92 will only be paid to those who meet the asset cap of $540,000 for single non-homeowners. If you have fewer assets you will get less. Likewise own your own home and you will get less, have more assets and you will get less.
    Fair Dinkum
    26th Aug 2019
    10:28am
    Why do businesses and government use marketing like $55.99,$843.99 $77. 22 this is marketing ploy some people see it and think it only $9.00 when infact 9.99 is really $10.00 similar to other amounts We don't have 1 2 or 3 cents anymore so why are they still quoting this in prices. Big bargain new car now only $34999. when in reality it is $35.000 but some people only see $34000. so what garbage is the government telling us that the pension is going to rise by $30.92 when in fact it is going up by $30.90
    jaycee1
    26th Aug 2019
    10:28am
    While grateful for the small rise it still won't cover the amount that everything else is going up by.
    Plus, within a week of the increase, a letter will arrive saying that my rent will be going up by almost the same amount. :(
    johnp
    26th Aug 2019
    10:49am
    WOW. Great Re "lump sum of up to $178". And for a whole year !! Just $2- less then a politician's daily meal allowance !!
    jackie
    26th Aug 2019
    2:44pm
    Johns, It’s nothing compared to Morrison gave to himself and he hasn’t improved the economy. How good is that?
    johnp
    26th Aug 2019
    3:47pm
    Yep Jackie. It is absolutely amazing that Morrison and the other politicians gave themselves 2% pay rise. Cos they can !! And they dont have anything to spend it on cos they receive $100K p.a. or thereabouts in daily meal and travel allowances. it is sickening and now feeling quite nauseous about it all !! Morrison is not a christian although he portrays himself as one !!
    Farside
    26th Aug 2019
    10:02pm
    johnp criticises Morrison for his christian beliefs but clearly does not mind stomping all over the tenth commandment. Whatever amounts politicians and pensioners receive are irrelevant as they are incomparable with each other.
    johnp
    30th Aug 2019
    10:06am
    Incomparable is not relevant and doesnt make it right. it starts at the top and the largesse trickles down mainly in Govt salaries, perks, plus the large companies, the upper managements etc e.g. CEOs and various levels of managements are the main original source of being uncompetitive with such as china etc. Just one example was Telstra when sol trujillo was in charge. The CEO of China Telecom received way less than 10% of his salary but was in charge of a company 100 times larger. Most of this still goes on today.
    ArJay
    26th Aug 2019
    10:53am
    I'm confused with the increase in the pension relating to the deeming rate. All commentary has quoted assets in the $100,000's. As I understand it an income is deemed on the basis of those assets. OK, I get that. My assets are $30,000. Do I get deeming increase, or is that asset figure too low to generate sufficient income? Can someone clear this up?
    sunnyOz
    26th Aug 2019
    12:09pm
    Won't affect you as you are well under the limit.
    ray from Bondi
    26th Aug 2019
    1:33pm
    and as sunnyOz imlpied you have 0 benefits from the changes to bank accounts, it is just like the fear campaign the won the election for a government with no policy other than to say it is all labors fault, this is just a furphy.
    ArJay
    26th Aug 2019
    10:54am
    I'm confused with the increase in the pension relating to the deeming rate. All commentary has quoted assets in the $100,000's. As I understand it an income is deemed on the basis of those assets. OK, I get that. My assets are $30,000. Do I get deeming increase, or is that asset figure too low to generate sufficient income? Can someone clear this up?
    stevo
    26th Aug 2019
    10:55am
    'Age pensioners set to get a pay rise'. I find this headline most disappointing and misleading because as a lot of articles in both newspapers; magazines and online groups have a tendency to 'flower up' the articles. The true headline should be something along the lines of 'Deeming Rate Cuts to come into affect along with Full Pension rate Half yearly Rise'. I say this because its the truth. Only 'Part Pensioners' ; people with monies still in Investments and or Superannuation will be affected by the 'Deeming Rate Cut' NOT the 'Full Age Pensioners' who will only receive the normal six monthly increase. HOW ABOUT TELLING THE COMPLETE FACTS AND NOT GIVING THE WRONG IMPRESSIONS!
    ozirules
    26th Aug 2019
    11:18am
    The headline should read 'Deeming rate cuts to come into effect reducing the level of theft by government'
    sunnyOz
    26th Aug 2019
    12:10pm
    I agree with you Stevo...is exactly what I would say. Totally misleading headline.
    GeorgeM
    26th Aug 2019
    5:01pm
    That's right, stevo, completely misleading headline copying what most of the media is also doing. The focus should be on the fact that Govt is giving back only a very small part of the money they are stealing from part=pensioners using crookedly set Deeming rates.

    Also, only part-pensioners who are affected by Deeming Income Tests (around 25%?), not those affected by Assets test, will have any benefit, whereas the media is projecting the impression that all pensioners are about to benefit from these less-than-fair Deeming rate changes.
    knnth
    26th Aug 2019
    11:20am
    We have never had anything to deem. So I guess it means nothing to us.
    My wife was recently directed to have MRI scan on knee. She is well over the 50 year cut off for scan to be free so cost us @200.00 for the scan.
    ozirules
    26th Aug 2019
    11:28am
    my wife needed a scan and GP said if I refer you there is a cost but if a specialist refers you it's free. The specialists costs for a referral were $350.
    Anonymous
    26th Aug 2019
    3:56pm
    just paid $500 to have a day procedure done (that is the hospital charge only) plus a gap with the doctor plus a gap with anaesthesist.
    TREBOR
    26th Aug 2019
    7:02pm
    Saw my cardiac surgeon today for follow-up - gu'mint pays me to go.... still costs some dollars though... thank you all for asking - yes, that dreadful pain is gone...
    BERRYUPSET
    26th Aug 2019
    11:59am
    When in September?So I can eat!
    KSS
    26th Aug 2019
    1:06pm
    The end of September and back dated to 1 July 2019.
    Arvo
    26th Aug 2019
    3:11pm
    The so called double boost applies only to part pensions affected by lower deeming rates. Those who are on Full Pension will get less than a modest increase.
    Polly Esther
    26th Aug 2019
    3:58pm
    back dated and all to the 1st July 2019. So there you go, you can lash out on a really big
    beano, and don't forget to thank Sco mo very much :)
    SuziJ
    26th Aug 2019
    4:34pm
    The half yearly increases come into effect on 20th March and 20th September every year, so the first payment in October you will receive a part payment and from the second payment in October you'll receive the full new amount.

    We have 'normal' pension dates on 5th and 19th September (depending on when you receive your pension). Our new rates will commence on the 20th, so we will have 1 day at the old rate and 13 days at the new rate on the first pension day in October (normally the 3rd), then from the next fortnight it will be the full new rate for the next 6 months.

    It's only the new deeming rates that are coming into effect from 1 July, not the 6 monthly 'CPI' rises.
    SuziJ
    26th Aug 2019
    4:34pm
    The half yearly increases come into effect on 20th March and 20th September every year, so the first payment in October you will receive a part payment and from the second payment in October you'll receive the full new amount.

    We have 'normal' pension dates on 5th and 19th September (depending on when you receive your pension). Our new rates will commence on the 20th, so we will have 1 day at the old rate and 13 days at the new rate on the first pension day in October (normally the 3rd), then from the next fortnight it will be the full new rate for the next 6 months.

    It's only the new deeming rates that are coming into effect from 1 July, not the 6 monthly 'CPI' rises.
    Rodent
    26th Aug 2019
    12:47pm
    I too have concerns re this "article and the data source" the article is very misleading.
    As of right now if you want to find out how deeming effects your Part Pension enter your data in to the Noel Whittaker -Age Pension calculator, available via GOOGLE Its ACCURATE and up to date as at 1 July 2019. Just be sure that you enter your INCOME figure in the income box. If using it for the Assets Test(not generally affected by Deeming) just put your Asset figure in and a suitable $ value in the income box ie $100, and it will calculate your fortnightly Pension and display if your pension is Income OR Asset test derived
    Tricky
    26th Aug 2019
    12:50pm
    The hypocrisy of this LNP Government is over whelming. The Deeming Rates on fixed Term Deposits which are earning a rate of 1.95% have a Deeming Rate of 3%. It is a 'PENSIONERS TAX'! This Government is outright obtaining a benefit by deception. It's a scam, its a Con. This LNP Government condemns the banks for not passing on interest rate cuts and then has the hypocrisy of not passing it on to Pensioners themselves. Where is the FAIRNESS. Plunder and Prayers!
    KSS
    26th Aug 2019
    1:05pm
    Well Trickey the same criticism could be levelled at you for not telling the whole story.

    The lower deeming rate will decrease from 1.75 per cent to 1.0 per cent for financial investments up to $51,800 for single pensioners and $86,200 for pensioner couples. The upper deeming rate will be cut from 3.25 per cent to 3.0 per cent for balances over these amounts.

    And don't forget that superfunds have done very well this year - well above the 3% or even the 3.25%.
    Tricky
    26th Aug 2019
    1:25pm
    KSS : Thanks for your comments I and many others would not view your comments as criticism but that of being very constructive in the debate. As I understand many of us do not have Super, and those that do have fixed Term Deposits over $85K are being unfairly receiving a Pensioner Tax. The Government and many financial advisors have advised Pensioners to place there money in secure investments i.e.; the Australian Banks. As you would be very well aware the ASX and world markets are experiencing turbulent times at the moment. PS Not all super funds are performing well either.
    ray from Bondi
    26th Aug 2019
    1:36pm
    I am with you Tricky, it is easy to see the political leaning of those that comment and reply, liberal fans can see no wrong and I am sure there is the occasional troll paid to comment.
    Sceptic
    26th Aug 2019
    3:13pm
    Well, ray from Bondi, as the majority of comments are anti Government, doesn't it follow, following your logic, that the majority of comments are from left-leaning Green/Labor and anti-LNP and the occasional troll paid for comment by said left.
    MITZY
    26th Aug 2019
    4:41pm
    I find that whatever government is voted in is the government that is continually criticised - i.e. both major parties always receive plenty of flack when in office. Same with the ABC reporting, whatever government is in power, it receives the majority of criticism. Its natural, really, they are the ones making the "big" or "little" decisions that affect us all.
    Not happy with this article's portrayal of "smiles". There's none for the person/s who own their own home and pay out all those rates, insurances, expenses etc. connected with it, but live entirely on the single or married age pension. We are not poor by others' means but still poor in cash/savings - no superannuation, no investments etc due to circumstances through a life-time of adverse events and/or health. What is the meager amount of the 20th September pension adjustment??
    Possibly the equivalent of another cup of coffee!
    Paddington
    26th Aug 2019
    6:29pm
    Mitzy, it sure is misleading. Full pensioners without other funds are not included in this so it should state, part pensioners with investments, as the public will think that the poorest ones who are renting especially singles, are about to get a windfall.
    Anything is welcome but without knowing each one’s actual circumstances, the poorest still are people who rely on the pension without other income or investments, etc.
    Tricky
    26th Aug 2019
    7:17pm
    SCEPTIC: It is true that many comments are subjective towards the Government screwing Pensioners, Part Pensioners and Self Funded Retirees. The Deeming Rates for cash term deposits is totally unfair. It is also true that Australia is a diverse society with many people having varying political views, however I can never recall any Australian sitting idle as they are being conned and ripped off.
    Fisherman
    26th Aug 2019
    1:00pm
    After the Australian Government was registered as a business the Australian politicians have been running the government as if it was a McDonald's franchise. So apart from selling off the assets supposedly owned by the people, the politicians have also insulated themselves from the legal system and the high court. This has allowed them to scratch each other's back, sing from the same song book and feather their own nests. Slnce 1973 the Australian Government has been able to ignore the Commonwealth of Australia constitution and lead us to our current indebted wage slavery. Hope it all ends well?
    ronnieb
    26th Aug 2019
    1:19pm
    Josh Frydenburg under the close supervision of Scott Morrison is hanging on to a budget surplus as if it is his own money. (again). Is there nothing this Government will do to preserve the surplus while allowing the National debt to become trillions of dollars?
    I cannot believe how often articles like this supposedly written by investigative journalists give the impression our Government is doing everything possible to take care of our pensioners and the elderlly when in fact most are struggling to find a dollar let alone spend it. The expression "Tell them they are dreaming "should be changed to "Tell them they are deeming". When you are old and shut in with the heating not running dreaming is about all you can do.
    ray from Bondi
    26th Aug 2019
    1:42pm
    I support labor and my comment show this, :) BUT the economy has never been in surplus for many years to my knowledge I know just before the election the government claimed it was because it was going to be next year, what Orwellian doublespeak,(look it up) anyway here is what is on the government site for the budget overview 2019-2020
    "The Government’s economic plan and this Budget are building a stronger economy and securing a better future for all Australians. This Budget and our economic plan are:

    Returning the budget to surplus"
    Tood
    26th Aug 2019
    5:28pm
    Spot on Ronnie, who gives a stuff about the budget surplus, haven't had one for so long now that nobody cares.
    And yes, nothing improvement to make the heating cheaper, useless government still has this on the back burner
    Misty
    26th Aug 2019
    2:44pm
    Well look out all those people relying on Franking Credits as the Federal Treasurer has asked the CEO'S of business to spend the money on technology and not buybacks and dividends, how hypocritical is that, wonder what the Liberal MP Tim Wilson thinks of that after his diatribe against Labor in the last election for wanting to change the Franking Credits.
    Sceptic
    26th Aug 2019
    3:16pm
    Perhaps if you understood business a little better Misty, you could see that by spending on technology it is more likely to increase the value of the investment of the shareholders.
    Misty
    26th Aug 2019
    5:22pm
    If that is the case Sceptic then a llot of idiots must be in charge or they would be doing that already without being asked too by the Treasurer.
    Misty
    26th Aug 2019
    2:44pm
    Well look out all those people relying on Franking Credits as the Federal Treasurer has asked the CEO'S of business to spend the money on technology and not buybacks and dividends, how hypocritical is that, wonder what the Liberal MP Tim Wilson thinks of that after his diatribe against Labor in the last election for wanting to change the Franking Credits.
    thewizardoz
    26th Aug 2019
    2:51pm
    Great!! Age pensioners with or without a half a million dollar home get a piddly increase that would barely cover anything at all!
    Disability pensioners get buggar all as usual!!
    An extra $40 for me might mean that I could eat two meals a week instead of the current one meal per week that I eat now. :o(
    TREBOR
    26th Aug 2019
    7:38pm
    Wha's in it for me? Ask not what you can do for your country - ask what your country can do for you!!

    I'm gonna cash in on the Boomer rorting and get my share for a change.... the twerp generation keep arguing it - one tweeted me about it... I told him to get back to me when he's achieved something apart from stealing his granny's home from her......

    How do I get in on this gravy train I hear so much about?
    johnp
    27th Aug 2019
    1:06pm
    For a gravy train just look at the extreme exorbitant largesse the politicians current and retired receive !!
    ArJay
    26th Aug 2019
    7:59pm
    Thank you, Sunny Oz, and others. It's as I thought. I agree wholeheartedly with Stevo: it's time the media started reporting the truth. Sadly, that includes "our" (?) ABC and the Life Choices headline and opening paragraph on this story.
    ArJay
    26th Aug 2019
    7:59pm
    Thank you, Sunny Oz, and others. It's as I thought. I agree wholeheartedly with Stevo: it's time the media started reporting the truth. Sadly, that includes "our" (?) ABC and the Life Choices headline and opening paragraph on this story.
    dolbt60
    27th Aug 2019
    10:33am
    ok if you have investments many pensioners dont have large amounts of money to invest we will look forward to the indexation around $5 for one half of the married rate of aged pension
    Loza
    27th Aug 2019
    5:18pm
    Jackie one thing you tend to forget when you say they want the retirement age lifted to 70 is that labor already lifted it to 67. So I’m still wsiting
    mavisha
    28th Aug 2019
    5:52pm
    While we,the pensioners are getting a small increase,at least some are,the polotisoners are about to get a 25% increase,isn't that nice of them.
    johnp
    30th Aug 2019
    10:09am
    Agree with many here. Wondering if its possible for a class action suit against fed govt. Because of forcing retirees into riskier investments and possible loss of capital due to such as the deeming rates as well as the perverse outcomes of the asset taper test. Especially for part or fully self funded retirees. Morrison portrays himself as a christian whereas in reality he is not !
    Spud
    1st Sep 2019
    11:12am
    I just checked my future payment and it has reduced ? Ohh here we go again
    MICK
    1st Sep 2019
    11:40am
    Sounds like more spin to me. No comparison between the pension increase and tax cuts for the wealthy but pensions are winners?
    Perhaps also bear a thought for self funded retirees who have been under attack from this government since Abbott was put into office. One thing after the other and don't think the current crop are finished yet.
    Perhaps ask self funded retirees how they can stay off the aged pension with interest rates approaching zero. It'll soon be a case of spend the investment rather than live off the interest and then the same people will be savaged again when the family home is included in the assets test, which this lot have been slowly working towards.

    I shouldn't be too critical though. This is the government Australians were told to vote for. There's no excuse stupidity I guess and we'll all have to rejoice at the huge windfall of $30.92 a fortnight pensioners have won. Buy a new BMW perhaps.
    johnp
    17th Sep 2019
    1:09pm
    Yep agree. Both LNP and Labor are like the nazis. LNP got into power by lying, cheating, bullying, conniving !! Labor is like the guards in hogans heroes; bumbling idiots who lost the election by not being able to explain their objectives clearly.
    Tood
    1st Sep 2019
    12:09pm
    Stupid headline, there is nothing here that changes for the majority of pension recipients
    vix
    17th Sep 2019
    12:36pm
    What an insult-$7 rise for pensioners when politicians give themselves a rise of thousands of dollars. It is interesting that we never hear about the cost to tax payers of retired politician's pension, which is also WELFARE !! Please let the public know how much that costs us!!!
    johnp
    17th Sep 2019
    1:02pm
    Agree 100% vix
    vix
    17th Sep 2019
    7:56pm
    We need to lobby parliament to disclose the cost to tax payers of all politicians pensions and get them to acknowledge this is a form of Welfare, which is a term that has negative connotations suggesting one is lazy if receiving pensions. Perhaps greed should have the same negative connotations!


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