Age Pension: how the asset threshold changes affect you

Font Size:

Changes to the asset test thresholds and associated taper rate took effect from 1 January 2017. All Australians who receive an Age Pension and whose payment will change as a result will have been notified by Centrelink of their new payment rate.

If you’re still unsure what the changes are or how you might be affected, then you should contact Centrelink direct. However, here is a summary of what has changed.

The asset free threshold is the value of assets that an individual or couple can own before their Age Pension payment is affected. Prior to 1 January 2017, for every $1000 worth of assets held above this threshold, the Age Pension payment was reduced by $1.50 until no payment was due – this is known as the taper rate. From 1 January 2017, Age Pension payments will be reduced by $3 for every $1000 exceeded over the asset threshold.

In addition to changes to the taper rate, the upper thresholds have been reduced, meaning fewer people will qualify for a part Age Pension. However, the threshold that determines whether or not you receive a full Age Pension has increased so you may find that you will benefit from the changes. The new thresholds are:

From 1 January 2017

 

Asset free threshold

Pension cut-off threshold

Homeowner

 

 

Single

$250,000

$542,500

Couple (combined)

$375,000

$816,000

Non-homeowner

 

 

Single

$450,000

$742,500

Couple (combined)

$575,000

$1,016,000


What if you’ve lost your Age Pension payment altogether?
Those who are no longer eligible for the Age Pension will automatically receive a Commonwealth Seniors Health Care (CSHC) card to help with the costs of prescription medicines, utility bills, rates, etc. The recipients of these CSHC cards will be exempt, indefinitely, from the income thresholds usually applied.

If your Age Pension payment has reduced significantly, or you’ve lost it altogether, and you’re worried about how you will manage financially, you should contact a Centrelink Financial Services officer on 13 23 00 to ask for a review of your finances.

If you’re concerned that you may exceed the asset threshold in the near future and would like to know what effect this could have on your Age Pension payment, you can receive an estimate by using Centrelink’s Asset Test Estimator.

Join YourLifeChoices today
and get this free eBook!

Join
By joining YourLifeChoices you consent that you have read and agree to our Terms & Conditions and Privacy Policy

RELATED LINKS

Written by Debbie McTaggart

356 Comments

Total Comments: 356
  1. 0
    0

    We need to stop this and all governments from attacking pensioners.

    • 0
      0

      How??

      Tell us what you plan to do, and then we can help you.

      Idle whinging won’t fix this major problem.

    • 0
      0

      The table above should show the BEFORE and after figures regarding assets and taper for it to be useful. I and many readers will have little or no idea of the effect of the threshold changes, since you don’t demonstrate what the $ change is.
      It wouldn’t cost much more in paper and ink to fully inform the reader.
      Wait…no ink or paper cost? then print a full table!

    • 0
      0

      Before amounts are now irrelevant so not necessary.

    • 0
      0

      The best way is to not vote for the Liberals and put them lat at thethe next Federal election. Write to your your Federal MP Start petitions.

    • 0
      0

      The best way is to not vote for the Liberals and put them lat at thethe next Federal election. Write to your your Federal MP Start petitions.

    • 0
      0

      The best way is to not vote for the Liberals and put them lat at thethe next Federal election. Write to your your Federal MP Start petitions.

    • 0
      0

      While KB’s response may send a message to the Liberals, it will only have a positive effect if the party you vote for is committed to reversing the recent changes. Fat chance of that happening!

  2. 0
    0

    Nope. I divested myself of assets years ago when I smelt this in the wind…. now my kids own it all and have no inheritance.

    We need to assets test politicians and the like , and when they have excess assets, cut off their pension. Not a reason in this wide world in this day of global jobs economy and part-time casual, which they demonstrably are – for them to retain the perks of times past… those ‘zombie’ perks that no longer have a place in the economic world.

    • 0
      0

      I will add to those ‘zombie’ perks the running around in VIP jets to get to Cambra from WA etc. These clowns have ample notice of the sitting days of Parliament and have no need for a special flight – they can get a flight two days in advance and travel with the peasants – they get all costs covered anyway, so why should the taxpayer fork out twenty times that amount to fly empty heads and hollow mouths from far away?

      In times past polies left in plenty of time to get to Cambra by train etc…. Fer Shaitan’s Sake… they’re not royalty and it’s not as if they’re tied to their local seat to do genuine work, is it?

    • 0
      0

      I have to agree. They get paid enough to save for themselves.

      There also needs to be a transfer from the government themselves to Fair Work Australia to determine salary etc the same as everyone else.

      Obviously politicians are earning too much and not spending it because of the perks. That is the argument being used isn’t It?

    • 0
      0

      The masters of the universe never apply financial attacks on themselves TREBOR. That is for everybody else.
      Bernard Shaw said it well in his classic Animal farm when some of the pigs (quite appropriate terminology for our political leaders…how did Shaw know?) asked why a society where all were equal was showing some being treated differently. The response from the pig in charge: “all pigs are equal. It’s just that some pigs are more equal than others”.
      The above is exactly what you would get from the current depots posing as a government. I have to hand it to Shaw the man had insight not lost by the passing of time.

    • 0
      0

      Not Shaw about that, Mick; I think it was George Orwell, whose other classic, “1984”, would be another apt metaphor for the place some would like to take us. We are already drowned in “Newspeak”.

    • 0
      0

      You are right McGroger. The memory ain’t what it used to be. Another year older does not help either.
      Thanks for the correction and your pertinent observation.

    • 0
      0

      Orwell’s recount of his experiences living with retired miners in Wigan Pier is a total eye opener to his writing. He saw the devastating effects that a total lack of compassion, empathy and unfairness from those in charge caused and documented it complete with photographs.

      Not surprising that his writing was tinged with that cautionary tale.

      And the neo liberal heros expound just that. They see the death of compassion, empathy and equality as being a very, very good thing indeed.

      For the Elite I suppose it is.

    • 0
      0

      To paraphrase Rae ‘if it’s good for the wealthy then bugger everybody else’…..the mode of operation from right wing governments generally and the last two specifically in this country.

      It is highly unlikely that even our brain dead constituents are going to ignore their own pain for too much longer as they watch the money transfer to the big end of town in full swing and I keep wondering at what point a revolution like the French Revolution is going to start in this day and age. Perhaps the bastards learnt their lessons and will not let people starve anymore. That certainly will hold things up….for a while….as the top end steals the wealth of the nation for itself.

    • 0
      0

      Trebor, while cutting off politician’s perks and reducing their pension entitlements might make you feel better it is irrelevant to the conversation around OAP means testing.

      Mick, there is no chance of a revolution in Australia in our lifetime.

    • 0
      0

      Discontent about crooked politics and class warfare are growing Farside.
      The day the bastards force average citizens to go hungry and live in lean to’s is the day it is game on. Until then the bottom end do not like what is happening but are to apathetic to change their destiny, so that bastards continue with talk of ‘mandates’ as they do exactly the opposite of what they said they would do.

    • 0
      0

      I wrote elsewhere that politicians are like aliens:-

      They live in a vacuum, they are shielded from the outside and its effects, they travel for long distances isolated from the problems of mere mortals, they don’t pay for their passage but are paid for it, and their connection with humanity is miniscule.

      They need to be The Man Who Fell To Earth, and actually live and see what reality is before they are permitted to make decisions on the life of others.

      Immediate salary cut to $100k pa and refund of expenses on receipt of receipted invoices, same superannuation deal as everyone else, same assets test on pensions.

      Then let them speak of those greedy pensioners out there.

      Whether it makes me feel good or not, it will certainly be an eye opener for them.

      Mick – re your last – why do you thing the Coward John Howard worked so hard to remove firearms from the general populace? why do you think we hear intermittent reports of hundreds of firearms being intercepted etc?

      That beast called the people is getting hungry – thing is that so far only a few are active in securing the ability to fight if need be at this time.

      We need a general strike of everyone.

    • 0
      0

      The Assassination of Jesse James Gun Owner By The Coward John Howard?

      Nobody remembered John Howard… nobody named their sons after him…… he died forgotten by all……. a lonely death of a meaningless man….

  3. 0
    0

    Its amazing how people that are unaffected by this change seem to think that its OK. Its not.
    It is a bizarre punishment for being frugal and attempting to take responsibility for ones-self.
    To quote a friend ” I may as well have chundered my money down the toilet or p….d it up against the wall. Or maybe gambled it away. No reward for trying to take care of yourself and partner”
    I am heartsick at the media who refer to anyone and I mean anyone, who is affected by these changes as “wealthy Australians”. They are, of course, not even close to retirement in most instances and have no clue as to the nuisances of being retired. Who for example, if you have been forced to spend your saving on just living, is going to pay for your Aged Care in later years. We are constantly being told that we are living to an older and more healthy age but we are not permitted to make financial arrangements that wont impact our families. In fact making financial arrangements are futile as the rules are changed so often you cannot come close to predicting what they are likely to be, and no Grandfathering to enable people to make suitable provision.
    We need professional people running the country not the self-interested unqualified politicians. They wont even take advise from people who are better informed than they are. I have worked with managers in the past who are poorly qualified themselves, but their strength has been that they work with, recognise and appoint people around them who do have the right abilities.
    Australia’s Governmental system needs a really good shake up, because the current model certainly isn’t working for us.

    • 0
      0

      Of course it is OK. Those of us above the threshold manage now so why can’t those no,longer elligible manange? We don’t even have the Health Care card.

      There are simply too many OAPs now with lots more to come. Something had to be done so those that need it getvwhilebthosevthatbdon’t don’t.

      I wish people would learn the truth about aged care. You pay what you can afford and can pay nothing and be in room next door to someone who has paid hundreds of thousands. I have seen this happen many times.

    • 0
      0

      Exactly Bonny and we also can’t afford the largess to politicians and big business either. They don’t need it.

      We also don’t need $50 billion submarines and $50 billion high income earner tax cuts either.

      The wealthy do not need more money to squander and the submarines simply won’t help one bit now that the Chinese Communist party controls the grid, the ports and the supply lines. Total waste of money.

      Possibly a better spend might be sorting out the ABS which obviously can’t count and the foreign office which needs a few employees over the age of 25.

      What a shock it must have been to suddenly realise the boomers had stopped paying heaps of tax and wanted a cut back. A really bad shock to the idiots running the place with absolutely no ability to see consequences or experience foresight.

    • 0
      0

      No shock about the baby boomers as it was that they knew it was coming and no one wanted to do anything about it as it was so unpopular. Now they have left it at the eleventh hour and needed to do something as soon they could.

      Looking forward to more to come in the May budget. There is a lot of discussion going on about the OAP becomjng a debt against one’s estate. Also being mentioned is scaling back the benefits to only those on the full pension.

    • 0
      0

      Rae, the largesse granted to big business and politicians and more than a few medium enterprises is irrelevant to putting the OAP on a sustainable basis although admittedly there might be more spoils to divide amongst the needy and less urgency to deal with it. We should be doing all those things and the OAP is an easier target.

      The relatively small proportion of retirees losing their pension benefits can now spend some of the assets they have spent a lifetime saving for their retirement.

    • 0
      0

      There will be no debt on anyone’s estate, Bonny – stop dreaming and spouting the NAZI line put about by the LNP about pensioners ‘owing’ for a pension.

      No government is that stupid, even this lot.

      We don’t care if the largesse, Farsie, if you consider cash to business relevant to the discussion of the OAP – it IS relevant when the discussion is about HOW the government places OUR money – whether it be for the benefit of the greatest number and those who have already paid their way, or for the benefit of ‘business’ mates.

    • 0
      0

      Trebpr, my point is that all of the challenges need to be tackled. Unfortunately for retirees, governments are more predisposed to tackle the OAP challenge before others like largesse.

      The present retirement funding model is fundamentally broken and unsustainable without significant reform. This is a challenge in its own right and even if all other ills were addressed, OAP reforms still need doing.

    • 0
      0

      Yes – we all agree that the current model is broke:- it is broken for the simple reason that governments successive have gleefully accepted tax revenue from all current and future pensioners, since the component of income tax and availability of other taxation to fill the Social Security coffers was never removed from taxation, but only consolidated into the slush fund titled ‘consolidated revenue. These governments then proceeded to waste that consolidated revenue on their social wet dreams and other things, while ignoring the fact that they were leaving the till empty for the bills that were inevitably to come due – including Pensions.

      Then we have the farce of the current compulsory superannuation in lieu of pay rises – organised to assist in exactly that situation – but set up so as to permit those with already excessive incomes to benefit mightily from it by being able to add excessive amounts and thus accept tax concession and then generate a hefty non-taxable retirement package. Add to that portion the utter stupidity of government in not even permitting the compulsory superannuation concept to run a full ‘generation’ of fifty years of working life, before fiddling with the edges and finding more and more ways to make it unsustainable for the user. Throw in the industry that has developed around this, with all its costs and its hefty remunerations to boards and ceos and the other vultures, and the entire construct titled ‘superannuation’ is a rotting ruin.

      Then add in the farce of the government separating itself and selected mates from that super system, and developing off their own bat their own fund with out money, and then not only sitting back and calculating annually how much that market will bear for them in the full knowledge that if it does not meet their requirements there is plenty more in the public till to refill their personal coffer. Add to that the appointment of their own cronies and past politicians to the board and management of this slush fund, all of whom then benefit in two ways from it – via their ‘pension’ and their remuneration. then add in that the same thieves have taken that fund offshore and hidden it in a tax haven, so that it pays zero tax to Australia.

      I’ve long advocated that ALL superannuation should be brought under a National Sovereign Fund umbrella – including the $120 BILLION salted away in the tax haven as politician’s ‘sovereign fund’, superannuation contributions from all including that proportion of income tax never removed but once slipped away into consolidated revenue so the peasants wouldn’t notice they were still paying for what was no longer a right if the politicians stuffed up the economy, and all the additional transfers from general revenue that was mooted when the original system was set up. This National Sovereign Fund scheme to be totally removed from the grasping hands of politicians and their economist mates and maintained for the benefit of all Australians under the same rules of entitlement – meaning that IF there must needs be some ‘asset test’ it applies the same to all, and IF there is an income test – then it takes in all fringe benefits as well.

      I think that covers it, but it will take some a year to work out what I just said.

    • 0
      0

      Yep, that pretty much covers it Trebor and there are some good ideas in there, which unfortunately many are predicated upon having an unambiguous charter of citizen’s rights that would include safety nets, entitlements and so on, as well as separation of the sovereign fund and its operations from the political arm of government. Nevertheless it could work if there was traction in the community to create a momentum for substantial reform and long term sustainable thinking.

    • 0
      0

      The estimated savings from the changed assets test are $2.5bn and the tax avoidance by business is estimated to be $48bn.

      So the discussion needs to centre on all income and taxation within all sectors of the community.

      However as I have said here and in other forums, none of our current politicians have the nous nor the guts to address the issues currently facing Australia.

    • 0
      0

      Bonny, you sound like a brain dead idiot.

      “”Of course it is OK. Those of us above the threshold manage now so why can’t those no,longer elligible manange? We don’t even have the Health Care card.”

      Obviously those of you above the old threshold had a great deal more wealth. Only a fool would assert that someone with over $300,000 less can manage as well without a pension as someone with more thabn $1.1 million! What a dumb thing to say!

    • 0
      0

      I agree with Bonny as we have about $400,000 invested and we have lived on what it has returned for years now. Invested well $800,000 would appreciate as well as paying one’s living expenses.

    • 0
      0

      Yes, and you take your family on expensive cruises to Fairyland on the smell of an oily rag. LIAR.

    • 0
      0

      Yes the cruise was paid for out of this fund.

    • 0
      0

      If I had a black cat Old Geezers would be blacker.

    • 0
      0

      I wish you had a black cat too as I need one to catch a rat.

    • 0
      0

      Which one Tony Abbot, Malcolm Turnbull, Scott Morrison, Joe Hockey, Richard De Natalie ……..??

    • 0
      0

      It’s your cat you tell me.

  4. 0
    0

    This LNP government will rue the day they changed the assets test. They will have 1 million votes less come the next election. I for one will be voting for the so called “calithumpian” party.

    • 0
      0

      I’ll believe that when I see it.

      The Libs have nothing to fear. They know they can do what they like, and get away with it.

      Shorten has no credibility, specially with his rorting mates, no better than the rorting Libs. In the unlikely event Labor was to win, the budget problems mean that they cannot restore the pensions anyway.

    • 0
      0

      Ha ha do you really believe that anyone in power will chnage it back? I can see it being tightened much future.

    • 0
      0

      johninmelb , It is certainly possible for Labor to win the next election because the medium and low income earners are starting to feel just who the LNP is really governing for . It was close last time but their forked tongue style will not be enough to fool the voters again .

    • 0
      0

      Bonney , I believe Labor can and will change it back when they reign in the deficits blowout increased by the Liberals , All they need is tackle the Corporation Tax dodgers and over generous tax minimising loop holes for the wealthy , including Politicians .

      I agree with you on one point that under LNP management it will even get tighter in future – they will have to , all in order to pay for the folly of the present short – sighted quickfix . Forcing people to use up their savings will only increase the Pension payout when these people have no savings left and go on a much higher rate of Pension .The young will no longer save and work hard and line up for the full Pension . So much for the fib the Pension reform will reduce the welfare payout .It does not need an Einstein to figure this out but fools or fibbers or both don,t .

    • 0
      0

      OLDMAN – I seriously doubt Labor will do the reining in required. They’re too busy navel-gazing over their ‘equality by enforced numbers’ social programs to consider taking on the hard jobs. Besides – they’re all in bed together.

      ALL current policies in unemployment benefits, job off-shoring and pensions/superannuation are steering this country directly to a massive blowout in the Social /Security bill – and not amount of desperate sticking of fingers into the dykes of pensioners will change that.

      Forcing people to live off their assets first at ANY part of their life guarantees they will become Social Security dependent later in life.

      Stoopid is as stoopid does, as they say down in Green Bow, sir!

  5. 0
    0

    This is what my local (Liberal) MP told me:-

    “On the pension changes, the Liberals strongly believe in respecting your savings. But they are savings. And if we provide a pension so people don’t need to use their savings in retirement it amounts to taxpayers subsidizing inheritances; something we cannot afford to do as a nation.”

    I am using my savings to supplement my part pension to live on. I am not leaving any inheritance to anyone. When I go, my partner will have the unit we live in, but not much else.

    • 0
      0

      It just confirms LNP avoidance of the truth and trying anything hoping most voters have a short memory . When the Pension reform was introduced we were told the welfare payments had to be reduced . What they are doing will result in increasing it . To avoid repeating myself , please read my detailed reply to Bonny above .
      We are also not all inclined to follow your decision as everyone in old age should have the right to make decisions they feel comfortable with . Some elderly even have serious health problems that can not be treated with locally available medicine and services and can cost a small fortune to get cured .
      And of course the LNP have to find a milking cow for paying welfare to the 19000 refugees they are bringing in . A figure that seems higher than what Labor allowed in .

    • 0
      0

      Your Liberal MP is obviously seriously ill informed or just a stupid pollie. When I read this stuff I wonder who the hell we put into government in this country ,and I mean both sides.
      These people who are supposed to look after us have no idea!

    • 0
      0

      All politicians, no matter what colour, are seriously misinformed about how the other half lives.

      I pointed out to my MP, that my part pension PER YEAR, is just $1000 more than his BASE salary as a backbench MP for ONE MONTH. He did not comment on that.

      He worked for the IPA, so say no more.

      I found out yesterday that his step father is a State Liberal politician. It’s like a dynasty, but Labor does the same thing, sons follow fathers etc.

      Sadly he’s just a young little rich kid, who doesn’t want to make the world a better place, just look after Number One. He has a blue ribbon seat he can’t lose, so he has nothing to do, just keep his filthy rich supporters happy. The less well off people in the electorate will never have the numbers to roll him.

    • 0
      0

      Did he apply that to politicians, those more than equal pigs?

      “Sorry, Mr Abbott/Keating/Turnbull/Hawke/Howard/Ms Gillard etc… your application for your Parliamentary Pension has been placed on hold due to your excess assets threshold and other ongoing earnings … we will review your application once you have wound down your assets and earnings sufficiently to access your Pension on a pro rata basis. Please keep in mind that whatever Pension you do draw between now and your personal demise will be resumed against your estate as a debt owing to the State. It is therefore in your best interests to live off your saving, any current earnings and off sale of your assets before applying for your pension.”

      (signed:- Joe Bloggs, Director Of Dept Of Inhumane Services).

  6. 0
    0

    Politicians with high salaries, and a super scheme that is unjustifiable and that is just stealing from the public purse, not to mention all the other perks that cost the taxpayer heaps will never understand the financial struggle of pensioners and self funded retirees.
    The cost of politicians and parliament needs to be reviewed as well as a Royal Commission into the banks. May I suggest that the inquiry commissioners be ordinary pensioners, self funded retirees, working people and a unionist with wide ranging powers to implement their findings. The outcome would be just and fair the way it should be.

    • 0
      0

      Did you forget to take your tablets this morning?

      No politician of any colour will ever countenance an enquiry into their salaries, perks, costs etc.

      Bank enquiry will never happen either, Libs have too many mates there, and future board jobs for ex-pollies would be in jeopardy.

      So you can forget that rubbish right now. Ain’t gonna happen, not now, not ever.

    • 0
      0

      You are correct “Happily retired early” but unfortunately so is “johninmelb”.
      It is a cosy club in Canberra when it comes to looking after each other.

    • 0
      0

      I didn’t take my tablets because I can’t afford to buy them!
      I know you are right, it won’t happen but we can vote out our members of parliament every election to keep each mp’s super total down until someone maybe an independent listens.
      Hit them where they hit us …. the hip pocket.

    • 0
      0

      Most pills only work becuase people believe they will.

    • 0
      0

      The poisoned chalice going the rounds in politics works on many…… just not on those passing it around….

  7. 0
    0

    They knocked off $95 a week from my part pension so now I am going to sell my investment home, which I mostly relied on for an income, will buy another house to live in and claim the full pension. (I currently live in a motorhome) Good move Turnbull and Morrison you sad tossers. And no I am not super rich, worth about $420000, which allowed me to pay part of my way. Not now you money grubbing politicians, now you will have to pay me more as a result of your shameful money grubbing tactics. Let’s hope that all the pensioners in this country realise this is only the thin edge of the wedge and make their voice heard.

    • 0
      0

      Snowflake – unfortunately, you are right. This is only the start – there will continue to be changes which is grossly unfair to current seniors. I am sick and tired of them changing the rules all the time (but conveniently not for themselves). Their changes are effectively retrospective, which is cruel and unjust.
      I am approaching OAP age, and may face loosing my job. I am single, and have worked my bloody bones off to try and be self sufficient, but am no way near being self funded. I look at my bludger of a sister who has never worked (only if it was cash in hand), had 2 kids as a single mother, lives in a govt house (has been painted twice whilst she has lived there), and knows every lurk to live a better life than me. Drives a 5yo car, and even goes on a cruise every year. My car is 19yo and any idea of a holiday is staying home and going for a ride on my bike.
      But I worked, had limited social life, managed to pay off my small cheap little home (that needs quite a bit of work) and put some away into super. I am now pretty convinced I have done it all wrong. Effectively punished for trying to support myself. I too have contacted Govt politicians to voice my disapproval but have not had the courtesy of a response.
      The most obscene thing is that politicians are not subject to the same restrictions and limits. To see Bronwyn Bishop receive a ‘pension’ of over $200,000 regardless of her assets and income, is obscene and disgusting. The same with expected pension for Tony Abbott – over $307,000 per year, regardless. Obscene, sickening. But nothing will change. The rich (politicians) get richer, and the poor (old age pensioners) get poorer.

    • 0
      0

      Why can’t your investment home be classified as your home and be exempt? Many people with 2 houses elect to have the most expensive as thier exempt property even though they don’t live in it.

    • 0
      0

      Agree with Snowfake & in2sunset, similar situation for me in2sunset- working my arse off all my life & getting nowhere (broken marriage/relationships I have had to borrow money to pay exes out to keep a familiar roof over my kids heads) whilst seeing many others around me do as well & even better off good times/no stress whilst they use my tax dollars to receive pensions etc.
      I’m 55 so too young to take the small amount of super I’ve struggled to save when my job possibly ceases soon & every day goes by looking more impossible to claim any pension at all & a miracle if one still exists when I’m 67 anyway. Struggling/going without things to put every cent to mortgage on my dump of a cheap house with plenty of debt left on it that I’m putting every cent into to attempt to pay it off before I lose my job like everyone else in this dead-end town so it’s impossible to even think about selling it before or after this happens because most of the under 10,000 population rely on the same employer & will be in similar situations with debt they struggle to manage unemployed!

    • 0
      0

      I’d say congratulations Cheezil61 if you managed to get wealthy enough to be affected by these chnages. So what are you whinging about?

    • 0
      0

      Once again these are the sort of low calibre politicains we vote in, but that seems to be the type that go in for politics and easy way, to become a fat cat and make terrible mistakes then get a huge pension for life, like Bromwyn Bishop for doing nothing , but look after her repulsive self.

    • 0
      0

      Snowflake, if you are only worth $420,000 including your motorhome and investments as you claim then you would be well advised to see a professional adviser because single, non homeowner worth $420,000 is eligible for a full pension.

  8. 0
    0

    I hope Part Pensioners never ever forget this low act by this government and vote them out at the next opportunity we get. I am certainly not a “Wealthy Australian” I have saved for a modest retirement and have been targeted by this government for a pension reduction. Shame on all the politicians who supported this legislation, it is unfair, unjust and Un-Australian. The sooner they go the better, what a shame we can’t call a double dissolution of parliament and get rid of them sooner.

    • 0
      0

      Let’s be realistic. If people have had their pension reduced or cancelled then they have more than enough to fund thier lufestyle until the safety net kicks in. It is not be used to preserve wealth for the next generation which people are doing by not spending down thier assets.

      There are more people benefitting from these changes than losing from them so the government will have increased support.

    • 0
      0

      By election 2019 most of those affected will fall into the same old habits … not enough votes amongst them to change outcome in a seat let alone the election. And as Mick has suggested, there will be the same numpties voting against their interests as there always has been.

    • 0
      0

      So Bonny, you claim that rich and privileged who can stash $3.2 million into super should get taxpayer-funded concessions, and the privileged who can earn over $70,000 a year (for a couple) should get a part pension, but anyone who DARED to sacrifice holidays and restaurant dinners in the hope of having a little more in old age should have it all taken off them? A rather NASTY AND UNFAIR ATTITUDE THAT ACTUALLY STINKS!

    • 0
      0

      I still sacrifice restaurant dinners as they serve food that looks like art and is no longer eatable. I really don’t blame people for doing so.

  9. 0
    0

    CSA helped me decide,,so instead being self funded I am now one a Invaled pension for the next 20 30 yrs,,Thanks taxpayers..

  10. 0
    0

    I have supported the Bastard liberals for the last 45 years, with a lot of respect for Howard and Costello. I worked and saved for my retirement under the previous Centrelink rules. After watching that Bastard Hockey attack the pensioners, the disabled, whilst he himself rorted the travel allowance, and walked off with a huge pension and current perks and salary in the US, for the first time in my life I voted the bastard Liberals LAST.

Load More Comments

FACEBOOK COMMENTS



SPONSORED LINKS

continue reading

Finance

Five smart moves for empty nesters

So, the kids have moved out, your home is finally yours again and you have ascended to the rank of...

Lifestyle

Why you turn down the radio when you're trying to park your car?

When you're looking for a destination, you might need to cut down the volume. Shutterstock Simon Lilburn, University of Melbourne...

Technology

Why we can expect smarter healthcare in 2021 and other tech trends

With last year dominated by the COVID-19 pandemic and much the same expected for 2021, it is unsurprising that healthcare...

Mental Health

Drug trial offers rare hope on Alzheimer's disease

There is finally a glimmer of hope in the fight against Alzheimer's, the most common form of dementia, which affects...

Pets

How the pandemic has turbocharged the pet care industry

Pet care is a big business, and the pandemic has made it bigger. An Animal Medicines Australia report says Australians...

Travel News

Australian government divided on lifting overseas travel ban

The federal government is divided about when international air travel will recommence for Australians, as consumers signal their intent to...

Food

Dietitian reveals the breakfast swaps worth making

If you're looking to live a healthier lifestyle, breakfast is a good place to start. It's the first meal of...

Finance News

COVID driving more older Australians into poverty

Many of us who endured lockdowns in Australia are familiar with the surge in energy bills at home. But for...

LOADING MORE ARTICLE...