Overseas pension changes to fail

Nick Xenophon has stated that he will join Labor and the Greens in opposing the proposed changes to the Age Pension for those who travel overseas.

Currently, those in receipt of the Age Pension can be overseas for a period of 26 weeks before the work life residency rule is applied. This is when the Age Pension is paid pro rata depending on the number of years the individual has spent in Australia between the ages of 16 and 65. If 35 or more, the full amount of Age Pension due is paid, if less, then it will be xx 35ths of the Age Pension payment.

There is currently legislation being processed that will see the 26 weeks cut to six weeks, this has passed through the lower, but it is facing opposition from Labor and the Greens and now the Nick Xenophon Team once presented to the Senate.

This new measure is supposed to commence from 1 January 2017, but with the legislation facing now even fiercer opposition, it’s unlikely to come to fruition.

What do you think? Do you oppose the changes? Will you be affected by the changes?


Related articles:
Pension portability changes approved
How pension portability changes affect real Australians
Pension portability under threat

Written by Debbie McTaggart

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