Friday Flash Poll: Deeming rates and the Age Pension

Deeming rates have been cut – for the first time since 2015 – but are you happy?

Friday Flash Poll: Deeming rates and the Age Pension

The Government has its focus firmly on its much spruiked budget surplus. Trying to keep a lid on costs while being pressured to boost a flagging economy clearly has its difficulties. Which is why the long-awaited announcement that deeming rates had been altered for the first time since 2015 was good news and yet still disappointing.

Good, because finally there was acknowledgement that rates needed to be reviewed after interest rate cuts by the Reserve Bank of Australia (RBA). The cash rate was 2.25 per cent in 2015 and continued unchanged until 14 July. The cash rate is now one per cent.

Disappointing because of the scale of the cuts – from 1.75 per cent to one per cent for investments up to $52,000 (single pensioners) and $86,000 (couples), and from 3.25 per cent to three per cent for amounts over $52,000 (singles) and amounts over $86,000 (couples) – and because no mention was made of a more regular review by an independent body.

So, in today’s Friday Flash Poll, we want your views on deeming rates, the Age Pension and Centrelink.

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Are you better off today than you were a two weeks ago by the changed deeming rates? Do you think the Government is out of touch with pensioners?

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COMMENTS

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Oldpom63
19th Jul 2019
10:47am
They should have also raised the deeming limit!
Sheilab
19th Jul 2019
11:19am
Why not hold a poll on the self-funded retirees?
ozrog
19th Jul 2019
3:39pm
Why?
Arvo
19th Jul 2019
11:31am
Only the wealthy part pensioners with savings in banks and other investments are better off by the change in deeming rates. The poor full pension pensioners who have no savings , no investments get no benefit from the lower deeming rates. The government is out of touch with age pensioners but not because they are unable to make improvement but by their oppressive design to keep age pensioners on the edge of poverty.
Paddington
19th Jul 2019
12:27pm
Yes Arvo and some amongst that group are really needing urgent assistance. Single aged pensioners who have to rent and single aged pensioners who own the home. A couple pension is not too bad, maybe add some help with water, gas, etc. but overall in a much better position than single pensioners who only have the pension.
Sceptic
19th Jul 2019
3:05pm
Your definition of wealthy is?
ozrog
19th Jul 2019
3:41pm
That's why it asked about the Age Pension increases.
Tanker
19th Jul 2019
11:35am
The problem with the Age Pension is that so many who view their retirement investments as something to be hoarded to pass on to their children. That is NOT why so many tax breaks are available to build such investments.
If a couple have. for example, an income of $50,000 a year from their investments they don't need a pension. A couple who have never been able to own their own home and are renting bit only have the Age Pension as their sole income they need an increase in their pension.

If a universal pension is introduced, in line with other countries then also in line with those countries an inheritance tax should be part of the package. Why pay an age pension to someone who doesn't need it? In order to do that taxes will have to be increased and expect things like negative gearing to disappear etc.
Paddington
19th Jul 2019
12:28pm
Yes Tanker, especially your first two paras.
Agnes
19th Jul 2019
3:16pm
Couldn't agree more Tanker, you have hit the nail on the head. the whole super system was set up to provide for a comfortable retirement, without recourse to the OAP. The idea being you spend during your later life to have a comfortable life knowing you had planned within the law, to take advantage of the structure e.g. remember when we were allowed to contribute $100,000 per year and claim as massive deduction from our taxes. Like all of us here super came relatively late in my working life but luckily I had a wise accountant who back in 1980 suggested I start contributing to a tax deductible scheme. And then in my high income years I maxed it out. Because of all the generous tax deductions I will never have a right to the OAP and that to me that is fair and just. But isn't it a wonderful country where if i go stupid and develop a gambling problem etc., i will get the OAP as a right because I will be in need of it. And of course I realise there are those whose life circumstances have not been as fortunate as mine , especially older women without assets or super who are renting. i think to help with budgetary restraint why not reallocate monies to the people on the OAP, e.g. the baby bonus, and the (laughable ) youth allowance, could all be re-allocated to people on the OAP. In my experience people on the youth allowance just spend it on cigarettes, booze and illicit drugs,I would dearly love to see the OAP doubled or tripled knowing that I, in all likelihood will never be in need of it. Similarly, I plan to "spend down" through my life, i.e. spend not save it, so hopefully I will die penniless owing the tax department $5 million. Mtytask is to spend a reasonably generous amount each year knowing that as I age , I may possibly end up spending less not more, unless assisted care is required. My children are all well educated and well off(thanks in party to me ) and have no need of it, and don't expect anything. They are fine with this and encourage it. So I agree, a universal old age pension is an attractive concept, with people being taxed appropriately on their holdings, and no need for the vast centrelink " police force" assuring the means test is applied. And thus remove all tax deductions already mentioned.
older&wiser
19th Jul 2019
3:35pm
Another who agrees with you Tanker. Nothing galls me more than hearing seniors talk about how they are scrimping and saving in order to 'leave something for the kids'. At the same time, I see them complaining about the cost of running the air con, or the cost of medication. They then say they want to do this as they never had anything left to them, so they want to make it easier for the kids.
Bugger the kids! They will have a lifetime of super, be better educated and informed, and need to earn it, not be given it.
ozrog
19th Jul 2019
3:43pm
Why don't they own their own home?
leek
19th Jul 2019
5:13pm
Digby- What a horrible thing to say about people on Youth Allowance, you are so out of touch with the young people of today. I have 22YO who is on YA as a student working her but off doing a Thesis for her Honors year, also doing casual work, and is struggling to make ends meet. She is one of the lucky ones, as I help pay some bills etc. for her. Most kids are struggling with rent/Utilities no different to people renting on the OAP.
My daughter knows of so so many other Uni students struggling big time. Those without good parents to help them. Quite a few have to drop out of their uni courses.
Thoughtful
19th Jul 2019
5:54pm
I agree Tanker. In fact I think a UAP should be a replacement for all tax incentives and then taxed normally on top of any other income received in retirement. Simplifying the tax system and OAP avoids rorting, is an incentive for people to save for their retirement ( the incentive being any amount saved is beneficial as it is better than just the pension which everybody would receive ), avoids the unbelievable bureaucracy involved with the OAP and keeps funds flushing through the government coffers.

I am always a little concerned by the attitude that people requiring assistance in retirement must have done something wrong or been wasteful during their working life. I would love to see the figures on seniors ( and by that I mean anyone over 45 ) who have lost permanent full time jobs and have never managed to recover financially. I personally know of this happening to quite a few people and I also know it to be responsible for some deaths in older males. Have we lost all of our compassion in this country?
Agnes
19th Jul 2019
8:38pm
Apologies leek.... did not mean to offend about your22yo, but clearly we move in different circles. All the folk I see on the YA seem to waste it , and not use it to a good purpose. But I would like to see some of these pensions especially the baby bonus given to the OAP. the YA is also given to young people (usually from a low income household) who are not doing any form of study as far as I can see and as I said spend it on cigarettes etc. I was a struggling student too , getting several degrees including a Phd, doing both primary and post graduate degrees. I had no one to help ( my Mum was just widowed), but I struggled and managed (later because of degrees moved on to a high income position). So I understand the struggle of the academics, and of course in my time there were no HECS debts.
Tanker
19th Jul 2019
11:35am
The problem with the Age Pension is that so many who view their retirement investments as something to be hoarded to pass on to their children. That is NOT why so many tax breaks are available to build such investments.
If a couple have. for example, an income of $50,000 a year from their investments they don't need a pension. A couple who have never been able to own their own home and are renting bit only have the Age Pension as their sole income they need an increase in their pension.

If a universal pension is introduced, in line with other countries then also in line with those countries an inheritance tax should be part of the package. Why pay an age pension to someone who doesn't need it? In order to do that taxes will have to be increased and expect things like negative gearing to disappear etc.
GeorgeM
19th Jul 2019
9:47pm
Several myopic comments from a person maybe jealous of others with more income / wealth. As long as people like you maintain such jealousy, the politicians (including their representatives / trolls here) are happy to exploit it and keep the Retirees divided with NO power to get any improvement in policies for them.

People save not only for a better quality of retirement, but also security to fund sudden needs such as medical issues, quality of life following adverse events, and where possible leave something for the kids they produced. WHY NOT? They worked hard for it, and paid taxes too. They did NOT do it to save the Govt money! Also, people bought and paid for houses with After Tax Income, with NO tax benefits, so there is NO basis for an Inheritance tax other than jealousy again.

Remember that the Govt did take 7.5% as part of Income Taxes throughout our working lives to fund pensions, and therefore ALL have a right to receive a standard Universal Age Pension. The pension amount however is not linked here to what you contributed unlike in some other countries and that's not a bad thing as some such as women looking after kids may have worked much less. Richer people may not even care to collect pensions at all, particularly if it is given only after the ATO asks them to fill an Application Form (one-time) asking them to list all their assets here and overseas! Simple! Also, additional income would be taxed accordingly. Yes, there needs to be limits on how much non-taxable income anyone can have, and currently the Super non-taxable benefits are too high although it took a Lib Govt (Morrison) to reduce the limits, not Labor who have supported the rich.
Also, negative gearing should be scrapped after the 1st house as it is nothing but a rort for the rich. A Minimum Tax system should also be introduced to ensure all pay minimum taxes (say 25% on Gross Income), not Zero or Negligible taxes as many of the rich are doing. Universal Age Pension also means getting rid of Centrelink from the backs of the elderly which all must surely support as retirement needs to be less stressful and more healthy.

I understand the while topic is complex, but that does not justify retirees fighting against each other as only the current no-good political parties win, and WE ALL LOSE.
Eddy
19th Jul 2019
11:54am
I am not against deeming rates per se, even though it is the deeming rates that keep me from qualifying for a part OAP. However they must reflect reality. If the deeming rates were tied to the official cash rate, they would go up or down automatically. Say, for instance the lower deeming rate should be at the cash rate and the higher rate at the cash rate plus 1%.
Also Centrelink should be told to make any adjustments automatically, although maybe they do so now, I do not know how this works.
stevo
19th Jul 2019
12:01pm
Forget about 'Deeming Rates' and 'New Start' What about 'Full Time Pensioners???????
gordonwh40
19th Jul 2019
12:22pm
The changes made absolutely no difference to my income. As a pensioner I cannot remember ever having to worry about what the deeming rate was.
Paddington
19th Jul 2019
12:29pm
Yep lol some of us are oblivious because it has no effect for us.
terrib
19th Jul 2019
12:34pm
Us pensioners who have no assets/savings are completely left out of the refund. The basic pension is still not a liveable amount. last increase I did not receive any more money in fact I am now 60 cents worse off. Being in housing they take 25% but how I am worse off I have no idea. I guess I will have to contact centrelink & housing to get to the bottom of that, but the time you spend waiting on hold is daunting to say the least. We need a rise in the basic pension back dated.
Franky
19th Jul 2019
12:49pm
Easy, they should adjust the deeming rates in tandem with official rate changes.
Funkee
19th Jul 2019
1:08pm
A complex problem created over time exacerbated by equally complex solutions that fuel discontent and frustration. It needn't be that way. NZ has a simple solution to the ridiculously complicated pension system we have here. That is: ALL over 65 receive full pension irrespective of their wealth, or lack thereof. No asset test, no income tests. Retirees on full pensions can continue working as long as they like if they wish, but pay a higher rate of tax on either their pension or their job, their choice which. You might think that such a system would force tax increases to cover the cost but the reality is the opposite. Most retirees elect to pay the higher rate of tax on their pension since it is usually the lesser of their two income streams, so the Govt. is clawing back some revenue there. They are also taxing the ongoing employment as well of course so more tax revenue generated from these folk that continue working. Then there is the overall boost to the economy thanks to extra cash being injected into the nations economy. On top of that the welfare system there requires far fewer people to administer it, unlike our system here that requires hundreds of thousands of people at places like Centrelink who are doing their best to work with such a complicated system, and failing to achieve the best results all too often. To me, this is a no brainer. There are other countries than follow a similar model to the NZ one. In the meantime we "enjoy" a pension system that is one of the harshest and mean spirited in the world. Would be interested to know what others think about this.
Lou Lou
19th Jul 2019
1:12pm
The problem I see with the age pension is
That one size should fit all. I am renting
And really need every dollar of the age
Pension. I divorced two years ago not my
Choice but my husbands greedy children
From a first marriage manipulated the entire thing
Behind my back. He had dementia but behind
My back his daughter a corporate lawyer had made sure
She had full power of attorney over his affairs.
I knew none of this when they attacked and said
Their father wanted a divorce and to sell the house
I was in so much shock I felt I was going to have a mental
Break down . However had I she was already to have me
Classified mentally unfit. We were married 30 years
Had a son together no super as he always said I would get his com super. I had cared for my elderly mother
For ten years saving the government $1000’s of money
I worked from 15 till 45 when I had my son. Did years of volunteer work at my sons school then joined my local
Community group to make our suburb a better place.
I walked away with very little money which I only got last year. I had not rented a place in Fifty years and had two weeks before Xmas to find a place . The place I’m in
Is a god sent to have gotten because coming from a large house and fifty years of stuff and not being given anytime to sort anything out I needed a bigger than two bedroom place. Well as soon as I contacted Centrelink
And told them my money had come through they calculated it all out and lost a big chunk I told them but I’m renting paying $400 a week tough here’s rent relief .
When I asked how they come to that decision they rattle of about the deeming rate they estimate what I’ll get in interest well I never got that rate. But they still deem you. Have lost trust in anyone after what has happened
To me and if I want a better return I should now go
To these finacial consultants who charge between $4000 to $10,000 and trust them with what little money I have.
I’m too old to borrow, to old to go back and work .
Or live in some remote area there’s not many options.
The stress with which our government makes older people live under is unjust. Anyone would think they are
Giving us $1000’s per week . The majority of us aren’t hoarding our money for our kids we’re just scared if we’ll have enough money to live our lives out.
I have to calculate every dollar every week to make ends meet. Did I also mention to those of you who live in your own houses that now days if you rent you have an inspection every three months would like that at 70 years of age. So to all of you out there that judge
And say you you should have saved for retirement.
I did and look where it got me the whole system from start to end let me down.
Now I’m suppose to get excited by this minister that
Gives us .25% of our deeming rate it’s a joke.
The people with money have all the means to get out of paying as little tax, ect . Those of us with little or just average working class they scrutinised is with a fine tooth comb. God when we get to retirement age if we even get there it’s” our money “ you should just be given your pension no questions asked. It’s all about control
They want to control us and make us live in fear
What the next change will be.
And here’s one further thing I’ll get you to think on!
Everyone complains about Donald Trump and the way he goes on but what you see is what your getting?
Now our government are sheep in wools clothing
Our leaders are just like Trump only we are blinded to seeing it well some of us .
old frt
19th Jul 2019
2:01pm
Pay everyone the basic pension and treat all superannuation income as taxable thus cancelling the tax anomaly of the current super system created by franking credits . This would result in a self funded retiree on a $70000 pension would be in the same position financially before they received the OAP and the higher income earners would gradually loose their tax free status created by franking credits. The added benefit is probably 100000+ less c/link staff(at least $60-70 billion PA ) and no more grovelling .
VeryCaringBigBear
19th Jul 2019
3:20pm
The problem with our system is not the franking system but the no tax on super after 60. A couple can earn well over $200,000 and pay no tax no matter where they get their income. They will just avoid getting franking credits which is so easy to do.
BERRYUPSET
19th Jul 2019
2:06pm
$9.25 a week or $18.50 per fortnight plus $75 backdated helps(will be my increase thro new deeming rates) but it definitely doesn`t cover the increase in the costs of living !!
ROLL ON DEATH AN LIVEABLE PENSIONS TO FAR AWAY!!
BERRYUPSET
19th Jul 2019
2:11pm
CORRECTION a liveable pension is TOO far away!!
GeorgeM
19th Jul 2019
2:51pm
Yes, BOTH the Govt and the Opposition are out of touch with pensioners and retirees.
If the Minister actually wants to assist Retirees, she needs to address the real problem (besides the Pension Rate) - the changed Assets Test is the major Retiree Tax with Deeming at 7.8%, higher than any sensible estimate of average earnings on assets, and a punishment for Savers. It is hypocrisy to offer up to $1,053 p.a. stolen "deeming" money back as a good deed, after they cut part-pensions by up to $14,000 p.a. with the Jan 2017 Asset Test changes. Why doesn't she reverse the Jan 2017 Asset Tests - if she is sincere about helping pensioners?

Deeming for Incomes (with both Income & Assets Tests exacerbated by Couple combined tests, whereas the payment may only be made to one out of a couple if the other is not yet eligible) and increasing Age criteria are all instruments set in place by Labor and exploited by Liberals at will. So yes, we have disgusting Govts of BOTH sides regularly hitting retirees with these Retiree Taxes. Labor did not use this term when the Assets Test was changed as they had no plans to go against it - they lost the opportunity to win the election in 2016 as result.

It is seriously time to scrap the Broken Age Pension system (consisting of multiple Retiree Taxes) and implement Universal Age Pension for all at Age 65 years and Residency of say 15 years. There would be massive savings on Centrelink costs, as well as reduced health costs dealing with Centrelink, besides increased Govt income from taxes from more Retirees earning income without being punished.

ALL Retirees need to fight for this now, especially with a Retirement Incomes Review coming up soon, and stop the nasty Liberal and Labor Govts continuing their destructive approach to retirees incomes.
Thoughtful
19th Jul 2019
6:24pm
Ready to take up arms. Just exactly how do we go about it?
GeorgeM
19th Jul 2019
9:23pm
I have often written in these columns such suggestions (including drafts of points which I am happy for people to copy, and can provide again if required) for all to write to the PM / Treasurer, and if you have a sensible local MP (most are irrelevant as they only toe the party line), maybe copy them also into it. Email contacts are available on the internet / parliamentary member lists, although the PM has a website only with a Form to be filled. Only when the Dept in Canberra gets a flood of such letters will the politicians wake up and listen. As I mentioned, a Retirement Incomes Review is coming up soon, and that is the right time for all to act. Too often, people in Canberra claim they did not get much inputs for such reviews, and that is squarely the fault of inertia among the lazy people.

The other option is to start a petition - I have suggested to YLC to start one, however no response from them so far.
Thoughtful
20th Jul 2019
12:06am
I am not certain that YLC would start a petition, but perhaps they would not mind being a facilitator.

I apologise for not having seen your drafts before, but certainly feel there seems to be so much interest from apparently well-informed people here. So impressed with some of the ideas and thoughts that I feel it is a shame if this is not pursued.

We do need to be bigger than politics though. The blame game achieves nothing , so if everyone could take a chill pill on party politics and let's really discuss and collate some ideas for something to be presented at the Retirement Incomes Review. There must be many members who have valuable skills and knowledge which can be used.
GeorgeM
20th Jul 2019
8:08pm
I agree with your comments, the many well-informed and experienced people here must contribute and push for changes at the right time, and I look forward to the Retirement Incomes Review when I hope the 86% of this survey who voted for Universal Age Pension will act and let Canberra know it is time for serious re-thinking and change. Yes, this should be beyond politics. Maybe, I hope, YLC may see themselves as a facilitator at that time too.
andromeda143
19th Jul 2019
3:04pm
If you are assessed by assets the deeming rate is irrelevant so we get nothing. Our pension system is mean and archaic. National retirement schemes as most European countries have are better. Our capitalistic society follows American lines, encouraging the rich to rip off the poor so they can live on the fat of the land, and conservative politicians subscribe to this system because it also means they get rich for doing nothing.
Tricky
19th Jul 2019
3:16pm
There was no consideration about Deeming Rates on Cash Term Deposits
Jude
19th Jul 2019
3:29pm
Pensioners with no super like the majority of aged pensions in Australia need a boost rich helping rich again
Alan
19th Jul 2019
3:53pm
I am opposed to a universal Age Pension as this would require much higher taxes on people who simply could not afford the impost. I am retired and am not eligible for the Age pension on both asset and income levels.

All pensions should be seen as a social security payment made to those who cannot look after themselves. It should not be available to those who have assets and while I could upgrade my house to a McMansion and my a nice Mercedes and thus qualify for a part pensionI believe this is ethically immorfal and that those people who have the assets but not the cash should be encouraged to turn some of their assets into income and forgo the pension. During my working life I had both a good job and paid a lot of tax but I also saved a lot of money so was able to look after myself in retirement.
Anonymous
19th Jul 2019
4:09pm
Hello Alan someone with a few brains and morals don't see it much amongst the pensioners on these pages?
BERRYUPSET
19th Jul 2019
8:50pm
Hello Alan so did many people(worked hard,paid taxes,had a good job and saved for my /their future) probably harder than YOU!But many due to circumstances beyond their control lost much of their hard earned savings!(THE G.F.C 2008 took a big chunk of my hard earned and many of my friends)
Stop being a holier than thou SMARTARSE (Oh what a good boy am I)along with Roby and hope it doesn`t happen to you and your friends!
Marty1
20th Jul 2019
2:26pm
You have no idea how hard it is for me and others to survive. I worked 3 jobs at one time I eventually got a job with the Army & due to no fault of my own, a soldier who was not trained to operate the machine I was the operator but he caused an accident and I ended up with a serious spinal injury and that was the end of my working life. So stop bragging you asshole did you earn your money honestly and did you pay the correct tax or did you have a fancy accounting firm help you reduce the true amount that you would have paid
Marty1
19th Jul 2019
4:51pm
The deeming rates have been robbing many for years now because most people have their house but not much cash in their bank account & they get about 0.01% because they need the little bit they’ve got for emergencies & don’t run out like a lot of young people with a credit card & end up not being able to pay for it. I think we should forget this deeming rate & go for a decent raise in the pension at least 10% as due to inflation over the last 10 years and no increases in their pension it should probably be 15% . I would love to see politician ‘s all vote to live on a pension for minimum 3 months & not be able to dipping into allowance ‘s or any other funds that they have currently in investments and other things, the government could have a contract with a local hotel where they can have breakfast and dinner at set prices & if they want something extra they pay for it just like the low income people have to do. Things like bring your own lunch and pay for to get to work. Another thing they could do is sell off most of the cars and just have a bus to pick them up and drop them back to the accommodation & stop these dogie lunch deals they get at heavily discounted price. Then we won’t be seen as a burden or welfare recipients, I paid for a pension in full but only get a part pension because I went without & saved a little bit. If I have offended anyone to bad as I know people in the UK get full pensions even if they have a few million in their accounts plus they get free public transport while we are like Oliver Twist begging for more just because we are hungry or cold because we can’t afford to pay large power bills. I can survive at the moment but for how long ?
margeh
19th Jul 2019
4:53pm
If you are a pensioner living from payday to payday, you probably have no savings. Therefore, the lowering of the deeming rate will not benefit the neediest seniors at all. The base rate of pension should be raised instead.
Jimbo
19th Jul 2019
5:24pm
the Poll is skewed
I answered no to Should the pension Base rate be reviewed
the next question . If yes how much should the pension be lifted
could not answer if one said no
where is the if NO
VeryCaringBigBear
19th Jul 2019
6:27pm
I did to and then had to select and amount.
BERRYUPSET
19th Jul 2019
8:36pm
ALL these comments should be brought to the attention of The Minister and our rep !
i`ve emailed and complained to my fed MP!Please do the same!!!
GeorgeM
19th Jul 2019
9:53pm
Good on you! However, also send any email to the Treasurer and any PM inputs via his website, as local MPs (my experience) have NO interest in this topic (no benefit for them) and will only toe their party line - unless you have enough support to throw out your local MP (most of us don't).
BERRYUPSET
19th Jul 2019
11:53pm
CAN BUT TRY!!THANKS
Marty1
20th Jul 2019
2:13pm
To all who may have miss understood my comments. I’m a widower who worked 3 jobs at times to put a roof over my family’s head until I had a spinal injury whilst I was working for the Defence Force “Army “ & I could no longer work so not only did I lose my income but also the chance to build my superannuation. I believed that being in a government job that I would never have any problems. I never received a lump sum payment as I was not aware of any time limit so when I eventually tried to get it I was told that the time limit was up & there’s nothing that I could do. I’m currently out off pocket $400.00 for medication as it’s not covered by PBS so you do the sums it doesn’t leave me much money to live on & remember even though I am unable to work at 68 years old l still pay taxes on everything I purchase even the medication. I’m happy if I died today but in the meantime I’m happy to swap with anybody that was able to complete their working life & was able to continue the relationship’s with their work mates, I know that I still have times when I’ve cried because I loved my job & feel like a bludger but my accident was due to a safety problem & was caused by an other person. The Army medical team wouldn’t help me because I was a civilian & eventually had to drive to the doctor & hospital. I’m certainly not jealous of anyone that was able to have the opportunity to work hard & have saved enough money to have a comfortable living in retirement good health and enjoy it.
Marty
*Loloften*
21st Jul 2019
4:44am
No, I'm not better off as widowed, on single pension, same costs re: insurances (home/contents); council rates; heating & cooling as spouse & I were almost always back home ard the same the time & now need to keep my very protective hairy dog warm/cool since widowed; same ever increasing utility bills re water, gas, elec bills to hot wash & disinfect all his bedding, couch & car seat covers; old home maintenance; appliance repairs or replacements; health insurance almost the same now as a single as was prior to widowed; more grandkids to buy birthday & Christmas pressies for which I love & will never stop altho' have very sadly had to curb the spending in recent yrs; extra medical costs as we age.....just to name a ones who come to mind. So why have I not received an increase? Simple, b/c I have less than $51,000 in assets & ScoMo doesn't give damn, just looking after the wealthier as the LNP always have & still doing.
Dotty
22nd Jul 2019
6:32pm
Well for sure I am no better off as I don't have any savings to worry about Deeming (Whatever that is !) as I never had time to do much with Super as it came in only a few years before I retired at 63 years old and after raising 3 children as a sole Parent there was never any money left over to save !
So what I am saying is what about those that are solely dependent on the Aged Pension with no savings "what about us "!
I hear about those that have homes and savings and good luck to them but nothing ever gets done about the Aged Pension and it was my generation and mine before that helped to Build Australia and the Pollies sit on their box and give themselves all these rises as soon as they are voted in and criticizes that fact that we get enough !
We paid our taxes and earned a wage and the money that was supposed to be put aside for us oldies was gobbled up by the government and now they don't want to worry about us and just sweep us under the carpet like a bug or something !
Dotty
Dotty
22nd Jul 2019
6:38pm
And another thing is the Government say that they cant afford to do anything because they are in the Red but if they made a difference to those coming from over seas and having child after child and get the family allowance which when I was having my children there was no such help financially but they seem to be able to get rent allowance and all that extra money that is going that way some of it could be given to those on a Full aged Pension that own nothing and are paying rent to help us survive a bit better !
Dotty
jakobo
6th Aug 2019
2:59pm
how do you know that you have a deeming account


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