Boost for pensioners expected in government aid package

A cut to deeming rates is expected this week as part of a federal government economic package to stimulate an under-siege economy.

happy pensioners

A cut to deeming rates is expected this week as part of a federal government economic package to stimulate an economy reeling from the effects of the coronavirus and a summer of bushfires.

It would be the second time in less than a year that deeming rates have been cut.

In a keynote address in Sydney today, Prime Minister Scott Morrison is expected to outline a stimulus package that will fast-track assistance to age pensioners and small businesses.

Of particular interest to older Australians, who constantly complain to YourLifeChoices about the disparity between current deeming rates and interest rates on offer, are the mooted changes.

A Meeting Place post from YourLifeChoices member Nev was typical of hundreds of complaints received after the Reserve Bank cut official rates last week to 0.5 per cent. Nev wrote: “Now that the RBA has dropped the cash rate again by 0.25 per cent, surely the government should be dropping the three per cent deeming rate. Our super has just had the entire year’s gains wiped out and retirees can't sustain this type of loss along with the government gouging from the assets.”

Seniors groups say that more than 600,000 people are being short-changed because the government is overestimating how much they’re earning from their investments.

Deeming rates calculate the amount of income received from a financial asset regardless of the actual return and determine how quickly retirees lose access to the full or part Age Pension.

In July last year, Treasurer Josh Frydenberg cut the deeming rate on the first $51,800 of a single pensioner’s financial investments – and the first $86,200 of a couple’s – from 1.75 per cent to one per cent. The deeming rate for balances above those amounts fell from 3.25 per cent down to three per cent.

It was the first adjustment to deeming rates since March 2015, despite a series of official interest rate cuts by the Reserve Bank.

Social services minister Anne Ruston said: “I suppose it [deeming rates] is a tool that we give people to make their life easier when they’re on pension or payment and they’re receiving income from their financial assets.

“So while, as a secondary effect, I’m sure that any extra money in the pockets of any Australians is going to provide a stimulus, that’s not the underlying reason why we change deeming rates.”

A permanent increase to the Newstart rate would not form part of the stimulus package, Senator Ruston said, warning that was a “separate conversation” to the coronavirus economic response. However, temporary support to help casual workers affected by the coronavirus is expected.

“As the Prime Minister has clearly said, the stimulus package he is looking to deliver to the Australian people is around a short-term, measured and proportionate response,” Senator Ruston said.

“Any long-term structural changes to anything we’re doing will be subject to a separate conversation.”

Will a cut to deeming rates make a big difference to your retirement income? Should deeming rates be reviewed more regularly?

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    COMMENTS

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    Janus
    10th Mar 2020
    10:15am
    All for the pensioners, nothing (again) for the self funded folk.
    Incognito
    10th Mar 2020
    1:08pm
    And those stuck on Newstart!
    Arvo
    10th Mar 2020
    1:53pm
    It means nothing to those on full age pension, there's 1,952,700 of them Australia wide. They simply don't have enough to be worried by deeming rates. It's just for the part-pensioners whose income and assets exceed the current thresholds.Apparently there's 600,000 part-pensioners who will benefit. That's bugger all as far as national stimulus goes.
    Incognito
    10th Mar 2020
    1:55pm
    My mum's friend is a part pensioner and she is always spending money already.
    Karen
    10th Mar 2020
    2:06pm
    All true comments - thing is, Janus, if you are adequately self-funded, you fall outside the whole idea of pension..... there are arguments all ways on this, as you've seen her many times.

    Still no mention from Labor about clawing back the imposition on SFRs and part-pensioners with the LNP changes back yonder.. 2016 wasn't it?

    Potential incoming governments never commit to such things - they know they'll 'need' the money to fund their pet schemes... forget about the core bills falling due.... great way to run a business or household.

    Every person should be given shares in AustraliaInc, for each social science shenanigan that affects them etc, and for all their work efforts over the years as evidenced by tax returns - and should receive a dividend in retirement from their shares.
    johnp
    10th Mar 2020
    10:22am
    Agree with Janus. We just need to have a universal aged pension for all. Govt doesnt miss out cos then everyone will just be in the normal tax system. Plus reducing substantially the centrelink bureaucracy. Like in most other countries.
    Separately; newstart receipents should be given a boost cos they spend all they have and dont sock it away; thus assisting the economy
    adbob
    10th Mar 2020
    11:25am
    Genuine Newstart recipients are hard done by as well.

    Someone who loses their job through no fault of their own
    goes into Centrelink to claim - first question - what savings
    have you got?

    Answer: None - Welcome to the gravy train.
    Answer: A fair bit. Fine - go away and live on that
    and come back here when it's all gone.

    We live under a bizarre system.

    In most developed countries you pay social security out of your
    wages and draw on it if you hit hard times. You need to have a good
    payment record to qualify. There is also welfare for those who miss
    out altogether. Here we mainly only have the latter - the former is
    miserably mean the latter is extraordinarily generous - so a magnet
    for those who choose welfare as lifestyle choice - a dead loss for
    people in genuine need.
    Chris B T
    10th Mar 2020
    11:42am
    adbob
    When you say go away until your savings are gone, you don't receive any Help From Employment Agencies so out of Pocket Expense as Well as Living Costs.
    They work on Government Payments or you pay them.
    They are suppose to, but will bin your application.
    We do live under a bizarre system.
    Happen to me Many Years ago.
    Incognito
    10th Mar 2020
    1:09pm
    Employment agencies don't help anyone,most people find their own jobs, it is a money making racket.
    Karen
    10th Mar 2020
    2:07pm
    Yes, john - but then the SFR would be paying tax on income above pension. Not sure they'd really want to come at that.
    SuziJ
    10th Mar 2020
    3:12pm
    What is this 'Sock it away'? I've never heard of it.
    johnp
    10th Mar 2020
    3:29pm
    Check in google
    "
    Phrasal Verbs: sock away Informal. To put (money) away in a safe place for future use.
    "
    johninmelb
    10th Mar 2020
    4:04pm
    There is never ever going to be a Universal Aged Pension.

    Such a beast is anathema to the LNP, and Labor has done nothing to implement anything remotely like it, and won't.

    Such an open ended scheme would cost untold billions of dollars and no government of any colour has that sort of money to toss around.

    You can dream all you like, but it ain't gonna happen. Get over it and move on.
    Pammy
    10th Mar 2020
    10:46am
    I agree with Johnp and about time self funded retirees get rewarded with discount rates just like pensioners get who pay there rates with money from the public purse. And yes. I paid taxes all my working life and still paying now.
    Karen
    10th Mar 2020
    2:09pm
    You have a fair point there about discounts and such - hardly seems fair, and all are retirees, after all. In the case of the very well-off retirees - do you recommend a cut-off point? That's always the rub.... some will inevitably miss out and that will be cause for ongoing argument and strife.

    BTW - everyone pays tax with every purchase or spend.
    adbob
    10th Mar 2020
    11:17am
    That's great news.

    Now my age pension, which I was promised, and for which I foolishly
    worked hard, paid tax, and saved for a bit extra, has gone up from $0 to $0
    and that bit extra I can use up until it's all gone to give me less income than
    the full age pension itself.

    That's the land of the fair go for you.
    How good is that?
    Sceptic
    10th Mar 2020
    12:24pm
    ???????????????????????????
    Karen
    10th Mar 2020
    2:11pm
    adbob is saying that the actual pension is not rumoured to go up - and the actual effect will be minimal and restricted to those at or near the top of the part-pension chain.

    As I said above - if the discussion was about an actual pay rise for pension, it's a different story. The headline is misleading. some may benefit from changes - most will not be affected in any way and you can guarantee that the government has calculated it to a nicety.
    Dizzy
    10th Mar 2020
    11:23am
    That’s fine for pensioners who have investments. What about those who don’t and are the most needy.
    Incognito
    10th Mar 2020
    1:11pm
    Yes seem's a bit suspicious, helping those who may be doing well already but not those who are struggling.
    Karen
    10th Mar 2020
    2:12pm
    Never trust a rumour floated by a government or its mates ... it's just testing the waters and hoping a few fish will attach to the hook and actually believe the government is about to help them... sure.. help them into the boat, the bucket and onto the barbie..
    LENYJAC
    10th Mar 2020
    4:41pm
    Highly agree with Dizzy..
    Paddington
    10th Mar 2020
    11:45am
    The only ones who will really spend the money are the likes of Newstart and renting pensioners not part pensioners who have additional funds. If you have money you have options so it needs to go those who have no funds apart from the next centrelink payment.
    Incognito
    10th Mar 2020
    1:20pm
    I agree anyone with low income does not save any money and spends it all, most goes on rent, bills and food. Anything extra may go to buying clothing if you are lucky.
    Wendy HK
    10th Mar 2020
    2:34pm
    True, we are on a full pension - no extra income.
    The first week we buy groceries, fill the car up, pay the rent and save a proportion for monthly / annual bills. The leftover is usually spent on things that need fixing etc. so the next week is a "no spend week".
    Give us an extra $50 and mate, it wouldn't be hoarded, it would be spent!
    Economy stimulated!!
    Sconny
    10th Mar 2020
    11:50am
    the 'LUCKY' country yes for some...
    typical of this bloody government let people who already have money get even more..what about the poor buggers who through circumstances exist fortnight to fortnight
    Incognito
    10th Mar 2020
    1:21pm
    Would not expect anything else for this uncaring Government.
    Tadpole
    10th Mar 2020
    11:57am
    A Deeming rate cut ?wooeedoo! this will be a great help to people with money to be deemed on and not one cent for the folk with nothing ,They will still have nothing So Lnp,thanks for nothing
    Tadpole
    10th Mar 2020
    11:57am
    A Deeming rate cut ?wooeedoo! this will be a great help to people with money to be deemed on and not one cent for the folk with nothing ,They will still have nothing So Lnp,thanks for nothing
    Blinky
    10th Mar 2020
    11:57am
    They also need to increase the asset threshold. It's too damn low!!!!
    It'd also be good if they reverted to the taking off of $1 × every $1000 over the asset threshold instead of $3. This is killing us!
    Mad as Hell
    10th Mar 2020
    1:45pm
    The 2017 changes to the Pensioner Assets Test was a con job by the LNP. No other demographic has done any lifting for the Budget Emergency since
    Alexii
    11th Mar 2020
    9:23am
    I agree with you both, Blinky and Mad as Hell. The change in the assets test has left many of us struggling. It's hopeless trying to plan with this government.
    Horace Cope
    10th Mar 2020
    11:58am
    "Will a cut to deeming rates make a big difference to your retirement income? Should deeming rates be reviewed more regularly?"

    Cutting deeming rates will make no difference whatsoever to our retirement income.

    Deeming rates should be tied to the RBA rates regardless of whether they are low or high. The RBA rate is calculated on what is best for the economy of Australia so it would seem fair that the deeming rate be tied to that rate.
    patti
    10th Mar 2020
    12:02pm
    It will make absolutely zero difference to me. What would be nice would be an increase in pension, or a one-off payment similar to the 2008 stimulus package. That I would spend and do my bit to stimulate the economy. Those of us who have only the Age Pension to live on never seem to get a break. Any help goes to those who already are better off.
    Sconny
    10th Mar 2020
    12:17pm
    Nicely said Patti...but we wont get any stimulus from this mob...they only care about those that have already
    MITZY
    10th Mar 2020
    1:45pm
    Yes Patti - It even takes them forever to announce the age pension six-monthly increases of 20/3 and 20/9 each year. Its now 10/3 and no news yet if we are to receive the equivalent of a cup of coffee per fortnight. There is definitely some urgent need to review the rates which have been static for years. Not the cost of living though! Each time you enter Coles & Woolies the prices are up up up and only the rubbishy products that a deleterious to our health are down down down. I keep a record of every cent I spend and there is nothing left in my purse or my bank account every month. I, like many, have to pay for everything from that single age pension and I have no savings. As far as this government is concerned the word "Age Pensioner" is hardly mentioned in dispatches. It happens to be a "dirty word".
    4b2
    10th Mar 2020
    12:04pm
    Why isn't the deeming rate fixed to the Reserve Bank cash rate? Keep it out of the politicians greasy hands an unscrupulous decision making processes.
    johnp
    10th Mar 2020
    12:08pm
    Agree with most here.
    The LNP does not understand Newstart recipients spend all they have thus greatly assisting the economy (and dont sock it away). The LNP and esp such as hockey, abbott and scomo the fake christian; make me feel quite nauseous actually. Excuse me, while I and go and puke.
    Mariner
    10th Mar 2020
    12:53pm
    Make sure to wipe after, and do not use too much of the roll!
    johnp
    10th Mar 2020
    12:57pm
    No problems, just a rinse of the mouth will do ;-)
    Incognito
    10th Mar 2020
    1:23pm
    Yes they seem to have enough money for themselves and don't care whether crime is rising because people are getting desperate, in a time like this you would think they could do what Rudd did, everyone was happy to spend that money and it worked well.
    KSS
    10th Mar 2020
    1:32pm
    Time to join the rest of us in 2020 johnP. Mr Hockey has not been in politics for 5 years and Mr Abbott was not part of the Cabinet since 2015 and has been out of politics for the past 12 months. Please stop living in the past.

    As for your personal insults against Mr Morrison, you are quite right; your comments would make anyone nauseous.
    Captain
    10th Mar 2020
    2:16pm
    KSS, just remember that Hockey &Co cut the part pension out completely for 93,000 people and over 372,000 other part pensioners. Those retiring now and in the future are also being affected by the short sighted politicans mentioned above.

    My local Federal politican admitted to me that the asset limit did not need to be reduced in the 2014 budget. Also remember that when the asset cuts came into effect in 2017, the political received a 4.5% pay increase and at the same time overtime rates were cut.

    It appears to many that, for politicans it is "what can I get at the expense of others".

    Marie Antoinette said "let them ear cake", and what happened there?
    Bundabergian
    10th Mar 2020
    1:09pm
    I never really understood why they need to use deeming rates anyway. I knwo to estimate what you earn on investments. But why estimate it? Why not use the actual figure? it is easy enough to find out! Like using an actual income for tax purposes, rather than an estimated one.
    Incognito
    10th Mar 2020
    1:25pm
    Okay so we don't know for sure what the "stimulus package" entails exactly yet but I am not holding my breath on this surprise. What an uncaring facist Government. Deeming rates do not affect me, I will not be able to spend anymore money, in fact I have to spend less, so how is the economy going to be stimulated exactly?
    KSS
    10th Mar 2020
    1:36pm
    Given you already acknowledge YOU DON'T KNOW what is in the package, your insulting vitriol is more than a little premature.

    Count yourself lucky if deeming rates don't affect you. There are plenty of others for whom they do.
    Incognito
    10th Mar 2020
    1:37pm
    I do not have any investments, I live from week to week. I am not insulting anyone, just stating a fact.
    KSS
    10th Mar 2020
    1:25pm
    Most of the responders so far do not appear to understand what this expected announcement is actually likely to be about. This is not an announcement about the pension/welfare review currently underway. The announcement is about the rescue package being considered as a result of the fallout from COVID 19, NOT a total reconstruction of the pension/welfare framework.
    Arvo
    10th Mar 2020
    2:06pm
    Right , so those on rental assistance can expect an increase in March 2020 of another 50 cents per fortnight.
    Incognito
    10th Mar 2020
    2:08pm
    My rent usually goes up every year to by at least $10 per week.
    KSS
    10th Mar 2020
    2:17pm
    And those owning their homes face increases in rates, strata fees, maintenance costs, building insurance, applicance repair/replacement to mention just a few costs that renters do not have to worry about and that add up to far more than $10 a week.

    And also on a pension but no rental assistance!
    Eddy
    10th Mar 2020
    1:56pm
    The most effective way to stimulate the economy is to put money in the hands of those who have least, ie pensioners and social security recipients (such as Newstart). Any extra money they get will be spent immediately not hoarded. Changing deeming rates will not stimulate the economy by any significant degree although a few well off people may qualify for additional pension..The idea of giving money to businesses will, in a lot of cases, merely stimulate bank accounts. I am recalling that in 2008 when the US Government gave something like $800 Billion to their financial sector to help them in the GFC a lot of the money was used to pay generous bonuses to their executives. Poor people spend, rich people hoard. I still see the fruits of the Australian 2008 stimulus package when I drive past our local school and see the lovely gymnasium.
    Karen
    10th Mar 2020
    2:02pm
    Might help those with excellent assets - a little bit... won't affect the many.

    Now if the talk was of a general rise in pension rate..... might be a different story.
    Paul
    10th Mar 2020
    2:20pm
    I am staggered at the full pensioners who begrudge a reduction in the deeming rates. If you are already on the full pension then of course you don't benefit from a reduction in these rates.

    That's why it's called the full pension!

    At present a single pensioner with financial assets just over $208,000 starst losing some pension due to deeming rates. If you have $300,000 in savings you lose $53 per fortnight because of deeming. These people aren't rich, they've saved a bit for their retirement only to get unfairly penalised by deeming rates that are well above what they can earn from a bank deposit.
    Anonymous
    10th Mar 2020
    3:46pm
    It's the mentality of the entitled versus those who are not so entitled.
    Paddington
    10th Mar 2020
    5:59pm
    Here’s an actual example. A couple pensioner who rent with no assets, no savings, no investments. When their pension arrives they spend it. If there was more they would spend it too. Newstart similar outcome. However, someone with investments and cash get a windfall from the government in some way that increases their income and wealth total. What do they do? Scratch their heads but may not need to spend that actual amount.
    Outcome, the money needs to go to those who will actually go out and spend it and they are not people with reserves.
    Paul
    10th Mar 2020
    2:20pm
    I am staggered at the full pensioners who begrudge a reduction in the deeming rates. If you are already on the full pension then of course you don't benefit from a reduction in these rates.

    That's why it's called the full pension!

    At present a single pensioner with financial assets just over $208,000 starst losing some pension due to deeming rates. If you have $300,000 in savings you lose $53 per fortnight because of deeming. These people aren't rich, they've saved a bit for their retirement only to get unfairly penalised by deeming rates that are well above what they can earn from a bank deposit.
    Paddington
    10th Mar 2020
    6:03pm
    Okay, how much are they living on? Are they paying rent? Have they any money they can spend? It is not about envy it is simply whether people will put the money back into the economy to stimulate it. Newstart would, renting pensioners with nothing would etc.
    David
    10th Mar 2020
    3:45pm
    Isn’t it high time the government considered a REAL raise in pensions? I’m not talking about a measly few cents here or there, I mean a real increase in the amount of pension paid.

    Despite the lying PM’s claims to the contrary (the Hansard record shows this quite clearly) working people in Australia, from Jan 1946 to mid 1975 were charged 7.5% of their taxable income, which was placed into a pension fund to be held in trust (something you can’t do with governments - trust) until their retirement, to cover the costs of their retirement income.

    But overly, greedy politicians during the early 1950s and later in 1975, stole those funds and secretly transferred the accumulated funds into general revenue. As I said, this is all supported in the Hansard record, so they can’t honestly claim it never existed, like our PM is attempting to do. They think all us in thre electorate are dumb-asses who can’t read. Hey, I’ve got a bit of sad news for them....
    Anonymous
    10th Mar 2020
    3:47pm
    That my friend was a big con from day one.
    johnp
    10th Mar 2020
    3:50pm
    David is right !!
    Anonymous
    10th Mar 2020
    5:11pm
    The government wanted to raise taxes so to make it easier they called it the National Welfare Fund. They deliberately had no individual accounts simply because it was a con.
    GeorgeG
    10th Mar 2020
    4:04pm
    Since the then Treasurer Scott Morrison changed the taper rate on the Pensions asset test in 2017, thus causing an imbalance with the income test, which remained the same, the amount of most pensions is decided on the Asset not the Income Test. I don't understand how changing the deeming rate is much help. Someone please enlighten me.
    ChristineS
    10th Mar 2020
    4:19pm
    We are on a part pension, but have very little cash in the bank, deeming rates will mean very little to us financially. For self-funded retirees, it will mean nothing, and their income due to the falling interest rates is going to decrease. Stimulus- huh - about as stimulating as a soggy lettuce leaf.
    ronnieb
    10th Mar 2020
    4:27pm
    Anne Ruston says that deeming rates are "a tool for pensioners to make their life easier". What on earth is she talking about? I thought if you were appointed as a Federal Minister it would be obligatory to understand the portfolio within say 6 months. This person has not understood ANY aspect of the pension arrangements. Deeming rates mean nothing unless you have more than you should have to receive the pension so wise up old girl, you are showing your lack of aged understanding.
    Oldman Roo
    10th Mar 2020
    6:56pm
    I am really having difficulties trying to understand all the complaints or envy ? about why part Pensioners are getting support in this case , and so they should . You have guessed it and I am a part Pensioner who is jealous and disappointed for ever having saved and cop a drastic cut on the Pension and would prefer to have no money nor small investment as the returns are a long way under the full Pension .
    So Gentlemen this is the scenario for a lot of part Pensioners and now tell me who should be jealous of whom ?
    older&wiser
    10th Mar 2020
    7:51pm
    What? - will they boast about the drop, and turn out to be the magnanimous amount of .25 or something?
    Doesn't help me at all as I'm on the full pension. Too poor for anything else - and with a mortgage.
    Jtee
    10th Mar 2020
    8:22pm
    Deeming rates should be adjusted at the same time as the Government's Reserve Bank makes changes.
    Chooky
    10th Mar 2020
    9:09pm
    Well, seniors voted conservative government again and we know right wing governments rate pensioners low on the priority list but pensioners keep returning these governments, so no sympathy for you.
    johnyperth
    11th Mar 2020
    4:55am
    This only helps out investor pensioners, but, those that are only on the age pension miss out again!!
    We will probably get around $2:00 a week rise this month, while those pensioners that are lucky to have investments and will get a lower margin rate will therefor will be way better off!!
    If this isn't wedge politics then what is!!??
    Wedge politics is a game the LNP government love to play most!!
    Treating some age pensioners better than other aged pensioners!!
    So much for a government that supposed to look after all Australian's the same way as it was elected to do!!!
    Hardenough
    8th Apr 2020
    12:23pm
    Hi there.- I am going to be 66 on Nov 2020, I am in job start allowance and I have a pensioner concession card, my wife is a pensioner she is older than me, we have a mortgaged home, I have no super because I used the funds to paid the mortgage, and I will sell the property because we don't have any money to support that; it is possible to get the pension without filling out all those confusing questions, when already Centrelink have all my details?
    Hardenough
    8th Apr 2020
    12:23pm
    Hi there.- I am going to be 66 on Nov 2020, I am in job start allowance and I have a pensioner concession card, my wife is a pensioner she is older than me, we have a mortgaged home, I have no super because I used the funds to paid the mortgage, and I will sell the property because we don't have any money to support that; it is possible to get the pension without filling out all those confusing questions, when already Centrelink have all my details?
    Incognito
    8th Apr 2020
    2:35pm
    You can apply online, go to Centrelink website all the information you need is there.
    Hardenough
    8th Apr 2020
    3:09pm
    There is a Pensioner's union that can defend our interests? if not why we don't start one.
    Hardenough
    8th Apr 2020
    3:09pm
    There is a Pensioner's union that can defend our interests? if not why we don't start one.
    johnp
    9th Apr 2020
    1:18pm
    Agree hardenough; lets do it
    Hardenough
    9th Apr 2020
    6:37pm
    well, there is any pensioner who knows the way to do so? most of my time I have been working as casual, because of the kind of work I did (Project Planning Eng.) we the amount of pensioners and also voters, I think we are almost 2Millions? we could have a very strong group, put in a $1.00 a month will run a healthy party.

    Let me know if we can do it!!
    Hardenough
    9th Apr 2020
    6:37pm
    well, there is any pensioner who knows the way to do so? most of my time I have been working as casual, because of the kind of work I did (Project Planning Eng.) we the amount of pensioners and also voters, I think we are almost 2Millions? we could have a very strong group, put in a $1.00 a month will run a healthy party.

    Let me know if we can do it!!
    johnp
    3rd May 2020
    10:30am
    These ones "should" be able to drive the issue forward.

    Pensioners for Senate
    https://www.facebook.com/ozpensioners/
    and
    https://www.lindaburney.com.au/media-releases/2019/12/3/morrison-governments-pension-cuts-headed-for-senate
    see where it says :
    Prime Minister Scott Morrison has been behind every single one of the Liberal’s cuts to the pension.

    As the Minister for Social Services, Scott Morrison tried to cut pension indexation – a cut that would have meant pensioners would be forced to live on $80 a week less within ten years.
    He cut $1 billion from pensioner concessions – support designed to help pensioners with the cost of living.
    He axed the $900 seniors supplement to self-funded retirees receiving the Commonwealth Seniors Health Card.
    He tried to reset deeming rates thresholds – a cut that would have seen 500,000 part-pensioners made worse off.
    In 2015, Scott Morrison did a deal with the Greens to cut the pension to around 370,000 pensioners by as much as $12,000 a year by changing the pension assets test.
    As Treasurer, Scott Morrison tried to cut the pension to around 190,000 pensioners as part of a plan to limit overseas travel for pensioners to six weeks.
    He also tried to cut the pension for over 1.5 million Australians, by scrapping the energy supplement for new pensioners.
    Scott Morrison also spent five years trying to increase the pension age to 70.
    The age pension deeming rate remains high while interest rates are at record lows.
    And he continues to gouge pensioners by charging high interest rates through the pension loan scheme.


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