Government set to review retirement income system

Super, pensions and taxation will all be scrutinised, says Treasurer.

Govt to review retirement income

The Federal Government is set to review the entire retirement income system, including superannuation, pensions and taxation, as recommended by the Productivity Commission (PC) late last year.

Treasurer Josh Frydenberg announced the Government’s decision in an interview with AFR Weekend.

He said it was time to act on the PC recommendation.

“My intention would be to establish that review.

“I am positively disposed to a review of the retirement income system as recommended by the Productivity Commission.”

Detail of the review would be announced after Mr Frydenberg had consulted with cabinet colleagues and Treasury, he said.

Grattan Institute fellow Brendan Coates told Fairfax Media that a review was long overdue.

“We need to work out the target for an adequate retirement income and what the trade-off should be between living standards while working versus in retirement,” he said.

“We still haven't worked out what the purpose of the system is and how the different parts of it work together … we are still providing such large super tax breaks, too.”

While the Coalition promised in the lead-up to the election to simplify the tax system and introduce rolling tax cuts between July this year and July 2024, it pledged not to change the taxation of superannuation.

However, Mr Frydenberg signalled that the Government was again likely to try to force a change in the make-up of industry superannuation fund boards.

It had sought to mandate that all super funds have one-third independent directors on their boards. Industry boards have an even mix of union and employer group representatives.

“There are a number of superannuation reforms that remain outstanding from the last term of government,” Mr Frydenberg said, adding, “… There is a strong case for reform to strengthen accountability and governance, improve member outcomes and the overall efficiency of the system.”

The PC sought an independent assessment of whether the compulsory superannuation system set up 27 years ago was achieving its original objective of raising national savings and taking pressure off the Federal Budget, the AFR reported.

The PC said the inquiry should be conducted before the planned increase in compulsory super – from 9.5 per cent of wages to 12 per cent – was phased in between 2021 and 2025.

A Grattan Institute analysis said that increasing compulsory superannuation to 12 per cent would cost Australian workers $20 billion a year in take-home pay and exacerbate sluggish wage growth.

Revealing his new cabinet, Prime Minister Scott Morrison named Senator Jane Hume the Assistant Minister for Superannuation, Financial Services and Financial Technology. Before entering the Senate, Ms Hume was a senior policy adviser for industry fund AustralianSuper and before that had held roles with the National Australia Bank, Rothschild Australia and Deutsche Bank.

Given the unpopularity of Labor’s policy to end cash refunds for dividend franking credits, any examination of retirement incomes could trigger a great deal of anxiety among older Australians and pre-retirees.

Would you welcome a review of the retirement income system? Where do you think it should start? What key components should it cover?

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    COMMENTS

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    mogo51
    28th May 2019
    10:06am
    One area that needs urgent attention, is the current attitude towards aged pensioners earning income and the ridiculously small amounts that is currently prevailing. As well, where one member of a couple has retired on the pension and the other is still working. There needs to be a fairer assessment to people who are in such a position, to ensure that the combined income is at least above the minimum wage level.
    jackie
    28th May 2019
    11:32am
    mogo51, haven't you heard Morrison's constant reminders that the Age Pension is welfare. The Liberals want to get rid of the Age Pension and have Australians save for their own retirement or work till they drop.

    People vote for the Liberals. Punish themselves.
    john
    28th May 2019
    11:39am
    Above the minimum wage level? It should be an established amount that retirees can live comfortably on. Not need to jump through hoops.
    If they have followed the process and done the right thing. At times, and I know, a super and a part pension and a spouse in a minimal employment set up, it is a struggle to make ends meet.
    THAT IS NOT WHAT AUSTRALIANS SHOULD HAVE TO PUT UP WITH.

    Too many do, it is wrong!
    Cowboy Jim
    28th May 2019
    12:47pm
    Absolutely - if we could be earning more without losing pension money we would have more to spend and that in turn is good for the economy. I am 4 years older than my partner and got nothing for those years till she was old enough for the pension as well.
    Cowboy Jim
    28th May 2019
    12:59pm
    jackie - it was Labor making us work for 2 years longer. Never forget that! The Libs might have thought about it but Labor brought it in.
    TREBOR
    28th May 2019
    1:40pm
    70 next month - slipped me name down for jobs - got an offer of a Locum at Harrington and RMO at Taree... so solly - no got number to prescribe - me retired... happy to do job but so solly ..... might work at Supercheap or Bunnings...
    ardnher
    28th May 2019
    1:54pm
    Labor, Liberals or whoever...always refer to pensions as welfare. no big deal!
    jackie
    28th May 2019
    2:31pm
    Cowboy Jim, yes it was Gillard and she deregulated the utilities too. That is why Australians pay high.

    Our politicians are run by their puppet masters pretending to work for the people. It's been openly happening since the 80s.
    Triss
    28th May 2019
    2:38pm
    We need to flood them with letters pointing out corruption in government needs to be addressed first, namely the ex MPs who have been carried by taxpayers for decades on huge pensions plus perks after working for eight years only.
    ardnher
    28th May 2019
    5:21pm
    would not waste a $1 on a stamp...nothing will change...all have their snouts in the trough
    Paddington
    29th May 2019
    11:15am
    We always thought this was fair. One of us was doing emergency teaching and the other had the pension. We reported our income religiously because we knew one day we would both need the pension. It was fine. We did not expect it to be much above both on the pension and part of the time like school holidays it was an income of one pension only. It worked for us as our expectations were not high and we were glad of any money from both sources.
    GeorgeM
    29th May 2019
    3:56pm
    Yes, mogo51, in fact it is even worse if the older person went on to pension and the younger one was unable to work but not yet pension age. Made worse by Labor lifting pension age to 67 without revealing that plan before their election. With the Age Pension system then fully destroyed by attacking savers as the Libs did with their Asset Test changes of 2017 (without Grandfathering, based on a budget emergency lie and a broken promise).

    Only sensible option now is for ALL Retirees and pre-Retirees to use this opportunity of a Review planned to write to their MPs, or the PM and Treasurer, to scrap the Broken Age Pension system and implement an Universal Age Pension system (for ALL with NO tests, based only on Age 65 yrs and Residency say 15 years), and join the ranks of all civilised advanced countries.

    There is also NO problem to afford it if we consider:
    a) the massive Centrelink cost savings (with payments directly from ATO following a simple application),
    b) more taxes from additional income from older people (working longer with no disincentives),
    c) less health issues & costs (with less Centrelink dealings), and
    d) by implementing a Minimum Tax system to ensure the rich and large companies (especially multinationals) pay their fair share of tax (not Nil or Negligible taxes as at present).
    The 7.5% income taxes collected for paying pensions (now part of consolidated revenue) could also be gradually separated out into a Future Fund managed independently of Govt interference (say under RBA supervision), to further guarantee funding.
    SuziJ
    28th May 2019
    10:26am
    First of all, increase ALL pensions! - no matter which payment, be it Carer, DSP and the Age Pension. It's been suggested that a minimum of $75 pw for a single person, and $100 pw for a couple. This has been highlighted in several studies recently.
    Paddington
    28th May 2019
    10:50am
    Ah SuziJ, they are not there for poor people, the environment, the ABC, sadly!
    Old Geezer
    28th May 2019
    11:23am
    Welfare payments are already very generous.
    koshka
    28th May 2019
    11:23am
    Paddington, you are right, they are there for money for themselves and the rich, not for the blue collar workers, or the poor, or the old or any other vulnerable being.
    koshka
    28th May 2019
    11:26am
    Old Geezer, bet you are one of those who has made plenty $$$ in detriment of the hard workers.
    jackie
    28th May 2019
    11:40am
    SuziJ, the young 25-year-old homeless female murder victim was not heard. So many homeless people aren't being heard.

    Build mental health institutes so that the poor can receive treatment, increase NSA and build more public housing for low-income earners.

    Those on disability pensions have NDIS and age pensioners have super, savings and investments. Young people from poor families have nothing and generally no support.
    Anonymous
    28th May 2019
    11:52am
    @jackie

    "Those on disability pensions have NDIS"

    I am one such person, but believe me, plenty of DSP pensioners are NOT NDIS-funded.
    Mondo
    28th May 2019
    11:56am
    Koshka, why do you perpetuate the myth that anyone who works hard, earns good money and invests it, does so at the expense of other workers? Money invested creates jobs for others, it doesn't detract from others' wealth and the tax they pay supports social security. Maybe it would be a good idea too to address the issue rather than attack others who have different views to you?
    jackie
    28th May 2019
    12:06pm
    Knows-a-lot, friends of mine are on DSP and receive NDIS funding. You are entitled to it, contact them and ask for help with the application form process.
    older&wiser
    28th May 2019
    1:17pm
    Jackie - Remember too that those over 65 are NOT eligible for the NDIS.
    TREBOR
    28th May 2019
    1:40pm
    OG - I've packed that world's tiniest violin away - give it a rest.
    jackie
    28th May 2019
    2:33pm
    in2sunset, I wasn't aware of that.
    Anonymous
    28th May 2019
    4:14pm
    Jackie, as I wrote, I'm already receiving NDIS assistance. Being on a DSP does not automatically guarantee it.
    Farside
    28th May 2019
    6:04pm
    Pension increases are a much lower priority than Newstart and should be put on the back burner for the time being. Pension eligibility should not be an increase in income. So long as there is a differential then it makes sense to have a transitional increase from the age that superannuation withdrawals can be made. It makes no sense to expect the unemployed to draw down on super (claiming retirement) to survive while waiting for the pension.
    jackie
    28th May 2019
    6:44pm
    Farside, I agree NSA needs to be increased. It is half the amount of pensions and it costs money to look for work let alone live.
    Paddington
    28th May 2019
    10:32am
    They will say they have a mandate and the right to do whatever they want. The fact that Labor and Greens’ values were snubbed at means things like the environment, hospitals, schools, ABC, and the Unions will be avoided by even Labor as shown in Qld by the premier and their stance on Adani. If the Greens continue to take a stance they will be further vilified. It is franking sad!
    TREBOR
    28th May 2019
    1:41pm
    Of course they will - of course there is no absolute mandate in any way.
    ardnher
    28th May 2019
    1:56pm
    and of course if Labor had got in they would not have had a mandate either..is that rightt?
    Tom Tank
    28th May 2019
    2:44pm
    This use by politicians of all colours of the term "Mandate" is a disgrace. To claim a mandate when the final shape of the Senate hasn't been declared shows that Minister to be someone not to be trusted. Then again of course he is good company.
    When are we going to have laws that govern political advertising to be restricted to the truth and not the lies and misrepresentation we gat all the time?
    Tom Tank
    28th May 2019
    2:44pm
    This use by politicians of all colours of the term "Mandate" is a disgrace. To claim a mandate when the final shape of the Senate hasn't been declared shows that Minister to be someone not to be trusted. Then again of course he is good company.
    When are we going to have laws that govern political advertising to be restricted to the truth and not the lies and misrepresentation we gat all the time?
    Farside
    28th May 2019
    6:26pm
    Any party claiming to have a mandate can exercise one if they an overwhelming majority. If they do not have an overwhelming majority then they do not have a mandate, simple. It should not be a surprise to governments of any persuasion that they may need to negotiate with the opposition and cross-benches whose sole obligation to cooperate with the "mandate" is to represent the interests of their respective constituencies.
    TREBOR
    28th May 2019
    8:01pm
    Of course, ardnher - no party has any absolute mandate to do as it chooses - if that were the case we'd all be living in some Third World turd depository under a despotic and robber baron government of Il Presidente and his mates...... oh .......................... wait a minute.... we ARE!

    I've never said that Labor was better or that it would have any 'mandate' to do as it chooses - the things it's done over the past nearly thirty years are enough to show how badly off course Labor is... and I don't give them any more time than the LNP or any other major.

    I constantly criticise Labor as well as LNP and Greens and other rubbish, and only have provisional faith in a few Independents.

    Don't jump to conclusions...
    cupoftea
    28th May 2019
    10:40am
    they have not sat in parliament and they want to move the goalposts they put in there three mates on each trust and one of those will be chairman and what he says goes if he wants to lend Trump money for inferstructer that were it goes and don't forget the retail what it to be harder for industry I new it was going to happen just when, the greens saved us last time as they say a fool and his money are soon parted
    johninmelb
    28th May 2019
    10:57am
    Can you rewrite that mass of words with commas and full stops so we can understand what you are saying. Thanks.
    koshka
    28th May 2019
    11:37am
    Johninmelb, Have you ever heard about James Joyce? …stream of consciousness. I am just curious.
    Paddington
    28th May 2019
    12:02pm
    johninmelb, no need for that. I can follow it just fine. Well done cupoftea!
    cupoftea
    28th May 2019
    10:40am
    they have not sat in parliament and they want to move the goalposts they put in there three mates on each trust and one of those will be chairman and what he says goes if he wants to lend Trump money for inferstructer that were it goes and don't forget the retail what it to be harder for industry I new it was going to happen just when, the greens saved us last time as they say a fool and his money are soon parted
    80 plus
    28th May 2019
    10:43am
    It would have been honest if the review was part of the pre election swill, but then honesty and L.N.P. do not compute.
    Paddington
    28th May 2019
    10:59am
    This will change the political scene. LNP knew not to tell the truth or their intentions and now they have a mandate and it is the people’s fault. Labor will change now. Greens will hold steady and be much maligned. Qld premier is pushing through Adani to keep her job.

    28th May 2019
    11:01am
    I would welcome a review of the retirement income system because it has been recommended by the Productivity Commission. My most important component would be that the rules around superannuation be set in an acceptable manner to the majority but most importantly that the rules can only be changed by a 2/3rds majority of the parliament. That is to say 2/3rds of ALL members of the House of Representatives and 2/3rds of the Senate. The problem as I see it is that both parties see the trillions in super and want to steal it from the members and this has to be stopped.

    As to having independent directors on the boards of super funds, I don't agree. There was an article in the media a while back that showed how there are directors of public companies who sit on multiple boards. If the independent directors were to be allowed to do this with super there would be an unacceptable conflict of interest. Perhaps legislation to control the fee structures on members' funds would be of more value.

    There might be a need to review the rental assistance for pensioners. The rents charged in capital cities varies greatly for those who live in country areas. The answer is not to relocate city dwellers to the country but perhaps to strike an average for the cities and pay rental assistance based on those averages. There are about 13% of pensioners who rent but this figure has not been broken down by region. I don't believe that the cost to government would be excessive but I don't have the statistics to back up this claim.
    marls
    28th May 2019
    11:25am
    Old man
    They already stole the pension fund
    They saw the millions and got greedy
    Google who stole the workers compulsory pension fund by Australian morning mail
    older&wiser
    28th May 2019
    1:29pm
    Old Man - as someone who has just moved back to the city from out west, I can assure you most country rentals are well on par with city surrounds. And I am referring to average areas - not Bondi, or Potts Point. If you want to rent in country, where there are facilities (needed for seniors), then believe me, rents are on par. Yes there are some very remote little isolated towns with cheap rent - but then you have to add in the long drives to towns with facilities (doctor, dentist, hospital, etc) - an there is no public transport in country towns. Meat, food, even scripts are dearer - no competition. And rates are unreal in country. My house on city outskirts - land value $365,000. Smaller block in country town, land value $62,000 - rates are 12% dearer.
    TREBOR
    28th May 2019
    8:03pm
    I would have reservations about such a review because it was from the productivity commission. Trust broken can never be restored...
    AutumnOz
    28th May 2019
    11:08am
    The most sensible solution would be an honest overhaul of the Australian taxation system and making sure that everyone, including multi-national companies, pays their fair share of tax.
    Cutting the employees tax by 7.5% would be a good start in fixing the tax mess we are currently using. 7.5% of wages is the amount of extra tax still being paid to ensure workers are able to have a pension in retirement. If the age pension is phased out there is no justification for the government to take that 7.5% extra in tax to pay for the pensions.
    jackie
    28th May 2019
    11:18am
    AutumnOz, stopping all the legal tax evasion loopholes and tax cuts for billionaires and corporations would benefit the country and the pockets of the poor.
    inextratime
    28th May 2019
    11:23am
    Jackie, please name these culprits with the details rather than just plucking a lefty statement out of the air.
    inextratime
    28th May 2019
    11:23am
    Jackie, please name these culprits with the details rather than just plucking a lefty statement out of the air.
    80 plus
    28th May 2019
    11:47am
    in reply to "inextratime" request 28 may for a list of non tax payers in Australia, here are some of the 762, list courtEsy of the A.T.O.
    Bluescope Steel, Leandlease, CSL, Alcoa, Glencore, Qantas, Sony, Origin Energy, Energy Australia, Exxon Mobil, Auspost, Vodaphone, IBM AU/NZ, Ford, Foxtel, Virgin Australia and Seven Group.
    jackie
    28th May 2019
    11:55am
    inextratime, this article can answer your request.

    You fool yourself if you think the Government is not a corporate puppet.


    https://www.theguardian.com/australia-news/2018/dec/13/ten-companies-pay-45-per-cent-of-all-corporate-tax-in-australia
    Beattitudes
    28th May 2019
    11:13am
    Please take into consideration that every time there is an interest rate cut, or the stock market dips, a self funded retiree takes a pay cut. Our fortnightly pay is just above the pension.
    older&wiser
    28th May 2019
    1:36pm
    And the deeming rate needs to be looked at and reassessed. As you have found, what incentive is there for people to work hard, make many sacrifices to ensure a self funded retirement. Only to find that if they had done nothing, they would have been just in the same situation. On one had the govt wants people to save and subsidise their own retirement - but they push this, just so they will not be able to draw on a pension.
    Farside
    28th May 2019
    6:55pm
    Please take into consideration that every time there is an interest rate increase, or the stock market rises, a self funded retiree takes a pay increase and gets a tax break on the capital gains. Don't hear peep from them then.
    ardnher
    29th May 2019
    2:44pm
    happy with our lot in life which we achieved without any govnt assistance...dont envy anyone and dont want Centrelink and happy to pay our taxes and not rort the system in any way...we are free agents and thank God no filling in any b.........y forms!
    jackie
    28th May 2019
    11:16am
    It always amazes me how gullible fools that can't AFFORD to vote for a Liberal Government always do and suffer the consequences.
    Anonymous
    28th May 2019
    11:23am
    Well said jackie, you, Plibersek and Bowen think alike and have just called the majority of Australians gullible fools. The election is over, the people have voted, the votes have been counted and it's about time you understood how all that works.
    jackie
    28th May 2019
    11:47am
    Old Man, I have noticed on these forums people that are Liberal voters always whine about more increases for themselves because they don't have enough.
    KSS
    28th May 2019
    12:29pm
    And I have noticed jackie that people who are Labor voters always whine about their lot, always wanting 'more' whilst abusing and belittling people who have a different opinion.
    jackie
    28th May 2019
    12:43pm
    KSS, the fact is most Labor voters have always done it tough. They don't whine, cupcake.
    KSS
    28th May 2019
    1:06pm
    Again with a personal attack jackie!
    MICK
    28th May 2019
    1:46pm
    I said I was out but cannot let this next lie from you go by. What an ignorant fool you are OM.
    People were lied to. The truth was hidden from them. The right wing media ran the propaganda and groomed their man. THAT'S HOW IT ALL WORKS.

    I am hearing that the government is now apparently not adverse to considering Labor's policies. Also today I read about Palmer's interests in both coal in the Galilee Basin as well as interests in coal powered generators there. This apparently is why he spent $60 million of his own money? To get an outcome? Just watch what the current government is going to give him now.

    Your disrespectful post is like the Nine News response to Shorten when he visited Tasmania after the previous election - a vicious rich man's attack and the reaffirmation that 'we've had our fake election so lets get on with it' (=business as usual).

    I don't know what Liberal Party mould you come from mate but you've clearly been given the injection these people get when they join the party. Your contempt is despicable and democracy means zip to you. If you had any shame, you don't, you'd crawl under the rock from hence you came.

    Oh yes....please do not call my analysis of you 'hate' or anything else. Its not. Its just my disgust at the theft of true democracy and those who are involved.

    Good post jackie. There are still true Australians out there but I fear most voters are easily led and are groomed to vote Liberal when this is actually the worst choice. I suspect our good citizens will need to suffer more before they wake up to what they are doing to themselves.
    roy
    28th May 2019
    2:23pm
    MICK is back and still the sore labor loser, ah well.
    jackie
    28th May 2019
    2:38pm
    MICK, thank you. I hope those fools will eventually wake up.
    Cowboy Jim
    28th May 2019
    3:26pm
    Welcome back Mick - we might not agree with each other on all issues but sometimes you make sense and I DID appreciate your input when I read these pages. Have been a union member most of my working life but could never accept the Shorten socialist agenda; was born not far from the German Workers Paradise (East Germany with the wall) and never want to have anything to do with socialism. The picture of Albo with that English arse-wipe Corbyn has already soured my perception of our new Labor leader.
    Digby
    28th May 2019
    3:28pm
    We have been very awake all the time Jackie, and we are delighted to see the majority of the Australian voters are " woke" to the profound evils of a labor government and have rejected them and their unfair policies. Good to see Mick back , we we're concerned, as long as he is there propounding his unique brand of flawed logic, with blaming everybody else but the mendacious labor party under shifty Bill, we can be assured, that we will continue to be, for longer than expected , placed under the rubric "winners are grinners". And in the case of you and your ilk, losers are very sore, insightless losers indeed.
    Anonymous
    28th May 2019
    5:04pm
    Thanks MICK, I'm a tad confused. What lie do you refer to? jackie called those who didn't vote for Labor "gullible fools", Plibersek and Bowen claimed that the people didn't understand their policies and "foolishly voted for the Coalition". Which part of that is a lie? I note you have descended to name calling again and reverting to your union bully boy tactics. As I told jackie, the election is over and Shorten's words of wisdom say it all: "We didn't get enough votes". Live with it MICK.
    Paddington
    28th May 2019
    5:23pm
    OM, gullible fools is exactly right actually! Voters walked up to vote saying, ‘there is going to be a death tax’ and ‘my grandma won’t be able to buy me a Xmas present’ and many many more lies. In Qld especially, the ads were relentless thanks to Murdoch and Palmer.
    Yes, people were gullible! My brother bore witness to this in Qld at the prepolls, so it is a fact. He worked there every day.

    Mick, glad you have returned! I think a lot of people missed you.
    MICK
    28th May 2019
    5:27pm
    Thanks Cowboy Jim, Jackie, Digby and Paddington.

    OM - you are what your are. Whilst I was surprised by the election result what did not surprise me was the grooming of Morrison night after night. This was a right wing media orchestrated snow job and the sad thing is people do not even know they were manipulated.
    Whilst I did not agree with the franking credits policy I was man enough to wear it for the greater good whilst others voted for their bank accounts. That is what was the most distressing. Many of my fellow Australians sold out the opportunity of getting our country going and giving all citizens a fair go.
    I also recognised that a direct attack on the coal industry was going to be met with 'not our jobs' and got that. Labor needed to get new industries ready to go rather than announcing an LNP style fairy policy. I've written to Labour and told them what I thought of their election campaign, along with Shorten who was incapable of bringing home that bacon.
    You OM? You are the great deceiver. I've seen it play out for years. You often say one thing and then come back with the opposite....which is precisely what your government does all the time.
    Sore loser? I'm livid. It has nothing to do with winning or losing and everything to do with the future direction of our country. Average Australians should enjoy what they have done when the LNP noose tightens, as it will. We will do quite nicely and the top end of town will do fabulously, but average citizens will suffer. First cab off the rank is a review on retirement incomes. I'm willing to bet its to cut then down.

    As I said previously its not my intention to argue with government trolls. I can put my time and my talents to work earning more income, which is what I'll be doing.
    Good luck to the real posters but beware the PM coming after you. He's already stated the 'trolls' need to be controlled. They're the posters who speak against him, not those who speak against Labor. Lets see if my prediction of a dictatorship is on the money. A bit of time needed for that one too.
    Good luck all. Cheers.
    Paddington
    28th May 2019
    5:46pm
    Mick, I have never felt like this after an election. Totally gutted!
    We missed an opportunity to start to address the environment issue most of all.
    We missed an opportunity to look at wages of the lowest paid.
    We missed an opportunity to help the poor souls in limbo on Manus and Nauru.
    We missed an opportunity to begin adding dental to Medicare.
    We missed an opportunity to help the young ones get their first home.
    We missed an opportunity to better support our hospitals and schools.
    We missed an opportunity to better support the NDIS with extra staff.
    We missed an opportunity to protect the ABC.
    You get the idea!

    And, Mick, please keep your voice here.
    roy
    28th May 2019
    5:52pm
    MICK, I would be interested to know just how much you've been paid by the ALP over the last months, you must be their highest paid troll certainly. Did you declare it to the ATO?
    Digby
    28th May 2019
    5:59pm
    And I have never felt so elated with a sense of justice and right being achieved (well apart from 1996 when the much loathed Keating got his comeuppance.) The ALP trolls (to use Mick's vernacular) are wedded to their picayune front bench of a failed labor party, and are best classified as the unreal posters as they can't accept the reality of the inferior party with unfair policies losing. Beware of Albo he is already eyeing how he can get back at the electorate and feather his own vile nest further.
    Labor lost due to fact that enlightened electorate, and right thinking clear minded Aussie voters, voted against the ALP as much as for the Coalition.
    And I agree, Mick, please keep your voice here, you add a sense of balance,. I am pleased you think about the issues as so many are just apathetic about their vote. I may not agree with you at all, ever, but am pleased to hear your considered, if sometimes offensively worded opinions.
    Good luck all. Cheers.
    roy
    28th May 2019
    6:30pm
    hear hear Digby, I would miss MICK, he is an "expert" on every subject under the sun, my every recurring nightmare is that I get stuck next to him at a dinner party.
    Almost every subject that comes up, he is almost invariably the 1st to post.
    Paddington
    28th May 2019
    7:57pm
    Roy, you are a bully. Mick’s posts are literate and genuine. Labelling someone a troll because they disagree with your brand of politics, is low. There may be some trolls on here but Mick is not one of them. How do you tell? Easy! He puts his heart into it not his back pocket.
    TREBOR
    28th May 2019
    8:05pm
    Pardon me, roy - is Mick the cat that chewed your Lib views?

    Give it a rest....
    Paddington
    28th May 2019
    8:09pm
    Digby, Albo will not get back at the electorate as he is obviously not made from your mould. That would not help him win in 2022 either! You actually come across as a potential troll due to your turn of phrase. You use generalised terms rather than speaking from the heart like Mick does. You probably are just wealthy elite who does not care about the environment or poor people as you are self sufficient. Good that you added the comment to Mick because he sounds like he has had a gut full of people like you and your brand of politics that screams, me, me, me! Some people actually care and feel beyond the almighty dollar.
    MICK
    28th May 2019
    9:21pm
    Thanks for the support. Despite getting the LNP trolls offside my intent has always been to tell the truth rather than push any party's wagon. The fact that I have lined up with Labor is because the party is a genuine government party whilst the LNP is a rick man's conglomerate made up of a pile of puppets who do what they are told despite this destroying our fine country.
    Americans, bless their hearts, have a bit on the pledge about defending the country against ALL ENEMIES. Yes I get the mess this country is in but the analogy is not more than to highlight that Australia has enemies within. At the top of list I see couple of media tycoons taking care of business and ensuring that the money for the top end of town never stops flowing.
    I don't care if I am called a bully by those who betray the nation. That's what bad eggs do to deceive people. That's what the media did to deceive voters. That's what the puppets of LNP did to sell their lies.............which were pretty well tucked away and not up for discussion during the campaign. Sort of like the "you have high electricity prices because of the Carbon Tax" lie which was run all day every day to get Abbott in. And then there was the "debt". Have a look at that after 6 years of LNP government.
    I'll sign off now. As I said I have other interests I'll devote my time to and hope that others wake up to the crooks in suits and spread the word. And hopefully Albanese will not stick his head up to be chopped off like Shorten did.
    Hasta la vista bebes!
    Digby
    29th May 2019
    10:10am
    Poor ol Paddy.... your are the one who is the Troll (for the ALP) around here you use the term constantly, your turn of phrase shows that constantly. You are the one who brought the term here to this forum from memory. Talk about Kleinian projection!! I don't what you call wealthy, but I at all sure that would apply to me. But i am in a position to provide bono work for the elderly I work with (I have worked with the elderly all my life) , and what money I do earn I contribute to charities for the elderly, as I have enough for my needs. And I speak very much from the heart when I say that Labor governments ruin economies, and a Shorten Led government would have been another Labor disaster for Australia. But I agree with you Mick has passion and fire in the belly and I always admire that. And from my perspective it is you and your brand of politics, false humility, and synthetic sincerity that screams me, me, me, rather than considering what may be better for Australian, rather than you personally. Your generalities scream that point. Yes some people do care beyond the almighty dollar and you are clearly not one of them, otherwise you would support a party much more likely to do a good job for seniors and Australia. And yes you are right Mick's comments do have much intelligence about them even tough I disagree, with them.
    maxchugg
    30th May 2019
    1:09pm
    Same old story from Mick, the media is all controlled by the right wing media. Yet I cancelled my 40 plus year old subscription to the local Fairfax newspaper because I was fed up with stories and letters all promoting left wing causes. For example, letters to the editor promoting climate change would be published as soon as received, those opposing the religion went straight into the bin.

    Despite predictions of calamity from Mick, since the election the property market has come back to life, surely that should tell him something.

    Now, the ABC which, we are asked to believe, is politically neutral, despite what we have seen on their news broadcasts, Q&A, Four Corners, etc. Interesting email which I have received which tallies with my experience, although can't vouch for its accuracy, despite some checking:

    "• Why does the Left media protect the left?
    • Because the political commentators of the Left media are either intermingled or married to the left politicians.
    • It’s a family thing and they protect their own:
    • Greg Combet (Labor) partnered to Juanita Phillips (ABC).
    • Gai Brodtmann (Labor) married to Chris Uhlmann (ABC)
    • David Feeney (Labor) married to Liberty Sanger (guest commentator on ABC)
    • Barry Cassidy (ABC) former speech writer for Bob Hawke (Labor) from 1986-1991
    • Heather Ewart (ABC) married to Barry Cassidy (ABC) speech writer for Bob Hawke (Labor) from 1986-1991
    • Maxine McKew (ABC) married to Bob Hogg (former ALP national secretary)
    • Maxine McKew (ABC) became Labor politician replacing John Howard for one term only.
    • Virginia Trioli (ABC) married to Russell Skelton (The Age)
    • Mark Kenny (Fairfax) married to Virginia Haussegger (ABC)
    • Christine Wallace (ABC & Fairfax) married to Michael Costello (former Chief of Staff to Labor’s Kim Beazley)
    • Annabel Crabb (former Fairfax journalist now with the ABC)
    • Tony Jones (ABC) married to Sarah Ferguson (ABC) Coincidentally Jones took over the Lateline role from Maxine McKew (from ABC presenter to Labor politician)
    • David Penberthy (journalist) married to Kate Ellis (Labor)
    • Paul Kelly (former Fairfax journalist) formerly married to Ros Kelly (Labor)
    • Kerry O’Brien (ABC) former press secretary to Gough Whitlam.
    • Mark Colvin (ABC) married to Michelle McKenzie (Leichhardt deputy-mayor and Greens Councillor)
    • Denis Atkins (ABC Insiders regular) married to Melanie Christensen (ABC Canberra)
    • Paul Barry (ABC) married to Lisa McGregor (ABC)
    • The lamentable Mike Carlton (formerly Fairfax) partners Morag Ramsay (ABC)
    • Andrew Fraser (Fairfax) and Catriona Jackson (formerly Fairfax and Laborpress secretary)
    • And so the list goes on.

    Labor, Fairfax and the ABC are joined at the hip. "

    And I think we now know why the previous government would do nothing to compel the ABC to play by the rules.
    Paddington
    2nd Jun 2019
    12:13pm
    Digby, I am no paid troll and you know it. Why single me out for attack, you nasty LNP troll. We will see what happens with your government. You are amongst the wealthy elite so of course you would support the LNP. Why would you want a government that fights for the worker or the environment. You probably hate the Greens equally. The only thing a Labor/greens government would do to you is maybe cost you some of your money. No doctor would speak as you do, bullying and singling out others to berate. Every doctor I have never known has been kind and definitely not this political as you are. I also think you have had other names on here. I am at least genuine seeking only what is good and right and the LNP have not displayed those qualities recently, if ever.
    Even Tony Abbott said that voters who had morals as their basis voted Labor/Greens and voters who had money as their basis voted for the LNP. There were also some good independents with decent values. This is borne out in the ABC compass survey wherein you show compassion you fall towards the Greens and if you do not you head over to the LNP right side with people like Pauline Hanson.
    Mootnell
    28th May 2019
    11:17am
    People are dills if they didn’t realise Liberal always come out with their policies AFTER an election, now they have a mandate to do whatever they wish. liberals let’s start wrecking industry funds by implanting them with oh! So very unbiased independents is so fake.
    The current industry funds have been outpacing the retail funds by big % and all that WITH union representation.
    This is just a guise to once again wreck something that is working, just so they can get their greedy little mitts on the dollars.
    Morrioson and Frydenberg, take your pathetic excuses as to why you’re only now suddenly announcing your pension intentions and shove it. Just like the orchestrators of Labor’s agenda you are no friend of the pensioner.
    jackie
    28th May 2019
    11:23am
    Mootnell, we all know the Liberals never have played fair in every election. They won this won Palmer's $60 Million anti-Labor campaigns.

    The Liberals always lie and the truth always comes out in the end. At least Labor has always been upfront and most of their Prime Ministers have left something for all Australians to benefit from. The Liberals have never done this all they have been infamous for is selling off the peoples' assets to friends without permission.
    inextratime
    28th May 2019
    11:27am
    The Gillard-Rudd era left all Australians a benefit, a massive deficit. Amazing how short people's memories are.
    inextratime
    28th May 2019
    11:27am
    The Gillard-Rudd era left all Australians a benefit, a massive deficit. Amazing how short people's memories are.
    jackie
    28th May 2019
    11:50am
    inextratime, the current Government is in the highest deficit ever and created it during its past six years.

    Get over Rudd, he is a Queenslander. It wouldn't surprise me he voted for Morrison too.
    KSS
    28th May 2019
    12:33pm
    Get over the election result jackie. Labor lost. Move on.

    Please curtail your abusive comments, accusations and sweeping statements targetted at people with whom you disagree.
    wisky171
    28th May 2019
    12:44pm
    There will be no carbon tax under the government I lead !! UH Who said that
    wisky171
    28th May 2019
    12:44pm
    There will be no carbon tax under the government I lead !! UH Who said that
    ardnher
    28th May 2019
    1:59pm
    for goodness sake cant people wait at least until parliament resumes to start attacking the new government...talk about getting all riled up and nothing has hapened yet!!
    roy
    28th May 2019
    2:26pm
    jackie, the LNP won because people all over Oz were too sensible to vote for that piece of filth Shifty Shorten.
    Digby
    28th May 2019
    3:06pm
    Agree Roy, about the majority of the electorate seeing right through Shifty con man Bill, and his whole conning front bench. But I thought the Coalition would only get another 3 years, until we return to Labor disarray and a ruined economy, as few government last more than 9 years. But if Labor couldn't get elected with Shifty Bill, how on earth and will they get elected with Albenese leading them. The man comes across as a plodding dullard, as the electorate saw through the policy flaws of Shorten so readily they certainly won't fall for Albo's fake spray on sincerity, claiming he is a man of the people with the common touch. Puhleeeeze he is even more self interested than the vile Plibersek, Wong, Shorten etc. Saying how he loves meeting the common the man... bit like sex , those who talk about it the most do it the least. To use Mick's terminology , the ALP just uses lies and deceit to try and fool a none too gullible public.
    ardnher
    28th May 2019
    5:20pm
    Albo may be a personable man but he does not come across to me as "the sharpest tool in the shed"

    Like so many in Labor he has never had what I call a job in the "real world".

    "Albanese was born in Sydney and attended St Mary's Cathedral College before going on to the University of Sydney to study economics. He joined the Labor Party as a student, and before entering politics worked as a party official and research officer. Albanese was elected to the House of Representatives at the 1996 election, winning the Division of Grayndler in New South Wales. He was appointed to the Shadow Cabinet in 2001."
    jackie
    28th May 2019
    6:57pm
    ardnher, it's not a new Government. It had six years to do something and it never did. Australia is in the biggest deficit through their own doing.


    Morrison was sacked at every job he had.
    TREBOR
    28th May 2019
    8:09pm
    roy - your statement about shorten shows the near lack of reasoning that goes into many people making their voting decision - we, as a nation do not vote for the PM - his/her party does.... and nowhere does the PM have absolute power over all he/she surveys....

    So voting for the preferred leader is a falsehood - especially when the party can change that leader at the drop of a confidence vote... and will do so as a political ploy - such as occurred when Gillard was slotted into the top spot to 'make a statement' about a woman as PM on Oz... though some would say it was a reward for past services.......
    koshka
    28th May 2019
    11:20am
    Now that S. Morrison has been elected by the people he may considers to REVIW some of the Labor´s critically progressive POLICES, which would be positively fear for ALL Australians and NOT just for those at the “high end of town”. Considering those hard workers who supports the rich people to get richer will be a CHRISTIAN act. Trust he will.
    jackie
    28th May 2019
    11:25am
    koshka, it makes me wonder about Morrison's religion. I didn't think Christian religions pray for more money daily.
    Old Geezer
    28th May 2019
    11:25am
    One thing is certain he will continue to support the refund of franking credits.
    Anonymous
    28th May 2019
    11:56am
    @OG. i.e. continue that rort for the rich.
    jackie
    28th May 2019
    12:00pm
    Old Geezer, that's because Morrison thinks that 4% of the population won't be around for much longer. Just like his dear old boss Mr. Murdoch. Jerry is doing a wonderful job caring for him.
    KSS
    28th May 2019
    12:40pm
    jackie your propensity to know exactly what someone else is thinking is astounding. I had no idea you were such a close confident of Mr Morrison.

    I must call you to account for your uncalled for and unremitting opinions based on your abhorance of Mr Morrison's religious beliefs. Despite the best efforts of those on the Left of politics, we still have a constitutional right to religion without having to put up with such abusive comments as you espouse. Your comments about Mr Morrison and his beliefs are disgraceful.
    jackie
    28th May 2019
    12:50pm
    KSS, money is not God. I am aware religion is about money, they are business. People that hide behind religion to pretend they are decent are not, they generally are hypocrites.

    Canada has recently started to make them pay tax. That will come to Australia later.
    KSS
    28th May 2019
    1:12pm
    jackie you are entitled to your opinion but there is no need to be so abusive, belittling and judgemental as you display in almost every post you make.

    And whether any religious institution is taxed is entirely a matter for the Government and the individual institutions. It is not a matter for the congregation or believers and certainly not for you to use to berate the followers who, by the way, almost certainly pay their own tax just like everyone else.
    jackie
    28th May 2019
    2:41pm
    KSS, I can't wait for it to happen here.

    https://www.independent.co.uk/news/world/americas/canada-churches-tax-bills-rise-face-closure-a7741566.html
    Digby
    28th May 2019
    3:42pm
    Jackie, I agree with KSS , but like you I think the churches should be taxed, especially the "church" of scientology, as even it's own author admitted it was a made up religion.
    pedro the swift
    28th May 2019
    11:27am
    Independent directors on industry super funds??? Picked by whom?? It will be jobs for the boys, ones who dance to the libs tune. Whats wrong with current set up. Employee and union reps on industry fund boards.
    Watch the funds go downhill if this happens, Huge payouts to "independent directors" to keep cushy jobs.
    Game of Mates" strikes again!
    ardnher
    28th May 2019
    2:00pm
    union reps have the upper hand though
    Mad as Hell
    28th May 2019
    11:34am
    The 2017 changes to the Pensioner Assets Test needs to be reversed. No other demographic was tasked as much to shoulder the budget emergency. The changes to the Pensioner Assets Test are a non sequitur if the changes to the franking credits were not acceptable.
    The old age pension is not welfare, can’t wait to see what spin comes out of this review.
    Viking
    28th May 2019
    1:54pm
    Surely the democratic thing to do would be to ask the fund members if they want to risk changing the generally successful board composition to include independent directors? But then that's how a democracy would do it, our government is there to serve its vested interest paymasters not the people.
    Farside
    28th May 2019
    9:03pm
    No need to reverse the cuts, perhaps even have another round to ease pressure on the budget. Roughly 25% of voters are over 65 and could easily influence the outcome of any election if they chose to do so. Choices have consequences.
    Heart of the Sunrise
    28th May 2019
    11:35am
    This right-wing lunatic dishonestly avoided mentioning his hatred for industry superannuation schemes during the election campaign. Now he once again plans to attack, despite the the indisputable fact that industry super schemes have always consistently outperformed retail super funds run by the greedy banking sector.

    He want to force his banking sector parasite mates, with their excessive fees, onto industry super fund boards.

    His "review of the retirement income system" is political double-speak for neglecting and punishing pensioners and the poor.
    KSS
    28th May 2019
    1:13pm
    Have you actually read the report? There are 31 recommendations and every single one was made public in January this year. Hardly a hidden agenda.
    ollie
    28th May 2019
    11:38am
    There is a $40 billion dollar hole after they deliver their tax cuts now they want to review age pensions that can only be bad.
    Paddington
    28th May 2019
    12:11pm
    They are doing more than that. They are looking at super, taxes in retirement, the whole income in retirement. The focus will not be how to help but how to save government money. It will have to include franking credits but not only retirees are involved in this so that will be interesting. What other things like that can they review?
    80 plus
    28th May 2019
    11:44am
    in reply to "inextratime" request 28 may for a list of non tax payers in Australia, here are some of the 762, list courtesy of the A.T.O.
    Bluescope Steel, Leandlease, CSL, Alcoa, Glencore, Qantas, Sony, Origin Energy, Energy Australia, Exxon Mobil, Auspost, Vodaphone, IBM AU/NZ, Ford, Foxtel, Virgin Australia and Seven Group.
    Paddington
    28th May 2019
    12:07pm
    Easy to find for sure. It will still not be enough to convince people though!
    It is easier for LNP to go after the battlers and the poor.
    GBH
    28th May 2019
    11:47am
    I was born in 1950 and have worked since completing my HSC in 1967
    Although I can not supply all details, I am aware of Governments in other Countries (including NZ) whereby retirement income from their Government is based on what a person contributed in taxes over his/her working life...with no means testing of hard earned retirement income.
    I have owned Three houses and employed many people in a large resort complex, paying massive taxes all my life...
    I have suffered financial losses at the latter end of my working life
    Where is the help for people like myself
    older&wiser
    28th May 2019
    1:45pm
    I have a friend who worked and lived for many years in Austria - now gets a pretty good pension from there.He was telling me that a person's final pension is based on their final wage - an incentive to work hard (during their working life).

    28th May 2019
    11:49am
    Doubtless the moronic LNP a**eholes will make life even tougher for poor retirees.
    jackie
    28th May 2019
    11:58am
    Knows-a-lot, of course, they will make it harder for ALL that do it tough.

    Since when the Liberals haven't? They don't care.
    Paddington
    28th May 2019
    12:05pm
    Of course. And what makes it worse they believe that have a mandate to rip us off!
    jackie
    28th May 2019
    12:11pm
    Paddington, history has shown they always have had that mandate.
    roy
    28th May 2019
    6:27pm
    jackie, history has also shown the labor part always leave the country in a worse mess, check back through history the world over, spent spend spend, borrow borrow borrow.
    TREBOR
    28th May 2019
    8:10pm
    Worse? How could it be worse?
    Digby
    29th May 2019
    9:55am
    Well Jackie the majority clearly think the LNP cares a helluva lot more than Labor does or ever could. I think that much is clear.
    fairplay
    28th May 2019
    12:07pm
    Governments of all persuasions should remember that those that have already retired have done so knowing the prevailing rules at the time and therefore any changes MUST only affect those NOT yet retired ie They MUST grandfather for those already retired.Unfortunately Government after Government change the rules and have created this mess and inequality.They have created an unpleasant situation that turns people against one another based on rules that do not make sense.It seems Labor's arrogant attitude on Franking Credits was a major factor in their demise and perhaps a wiser strategy would have been to say that any changes would be based on Govt. providing suitable alternatives ie allowing those affected to start or add to existing allocated pension income streams without penalty etc etc
    DavoWA
    28th May 2019
    12:07pm
    It looks like JoFry has decided that a Pensioner Tax is not such a bad idea after all.

    I cashed in my small amount of superannuation the first chance I got, two days after my 55th birthday. My main reason for doing so was that I figured that as soon as the politicians realized how much money was accumulating it that little bucket, sooner or later, they would figure out a way to steal it.

    It's starting to look like my gut feeling was right on the money.
    OnlyDaughter
    28th May 2019
    12:12pm
    Australians voted for the Coalition and elected this government, even though it presented absolutely no policies to the electorate. Blind Faith. Amazing and foolhardy. Whatever this government does that disadvantages pensioners, tough. Australians elected it. Majority rules. Stuck it up.
    KSS
    28th May 2019
    12:59pm
    OnlyDaughter, are you serious?

    Did you not read the budget papers handed down about two weeks prior to the election? That was what Mr Morrison took to the electorate. That was why there were no big spending pie in the sky prpomises. It was all there in the budget.

    Mr Shorten's budget reply speech also laid out much of what he spruiked during the election.

    So what part did you miss? Just the Liberal plan or did you miss the Labor one as well?

    As you say; the Coalition won the election - suck it up!
    80 plus
    28th May 2019
    1:30pm
    KSS, Why do you have to be so agressive?, we are allowed to disagree with the LNP PAYED POSTERS.
    ourjeffie
    28th May 2019
    1:53pm
    OnlyDaughter, you sound like a bad loser
    ardnher
    28th May 2019
    2:01pm
    i am scratching my head here...how on earth does anyone on this site know who is being paid by anyone..whetehr it be Labor or Liberal...just empty words and a lot of rubbish!
    Digby
    28th May 2019
    2:56pm
    Well said as always KSS and you are not being aggressive at all. It is the ALP voters who are all so shocked at losing to a party with a fairer set of policies (as the majority of the electorate obviously agree) who are the aggressive ones. They are filled with so much hate and outrage, and their party being found wanting by the electorate ( so they mistakenly become deluded that the electorate was lied to , or just stupid). We are allowed to disagree with ALP PAID POSTERS, to use 80 plus sad turn of phrase, (with correct spelling)
    Grammargirl
    28th May 2019
    12:17pm
    We need to be able to claim for a dependent spouse again. My income is generated by judicious safe investments which give me a small ongoing income but my husband who retired 10 years before me, earns very little from his fund and I pay most of our living expenses. Why am I still unable to claim for his depenmdency?
    Buggsie
    28th May 2019
    12:22pm
    DavoWA you have the right idea! We cashed our super in as soon as Morrison was re-elected. We knew that he would claim a mandate to again attack the productivity of Industry Super funds, alter pensioner conditions, tax retirement benefits generally and introduce changes to benefit his mates in the various financial industries. Anyone who didn't see this coming had his or her head in the sand. Wasn't it Morrison who voted 27 times against a Royal Commission into the corrupt banking industry? Unfortunately the self interest and stupidity of some will make the rest of us on fixed incomes suffer into the future.
    Paddington
    28th May 2019
    8:30pm
    Yes to all that and the reason some of us are fearful! Anyone on a low income in retirement will likely be more affected than those with plenty of cushioning.
    Buggsie
    28th May 2019
    12:36pm
    Jackie, I just read your comment re taxation on withdrawal of super. As I said we have just withdrawn ours as a lump sum and closed the retirement fund. We will pay no tax on this amount at all - this is the most common scenario on lump sum withdrawals. Taxation of lump sum withdrawals is something that I expect the Morrison government to introduce as their desperation to make up their $40 billion budget hole increases.
    jackie
    28th May 2019
    12:51pm
    Buggsie, I am sure tax is paid when withdrawals are done at the age of 55 not 60.
    Digby
    28th May 2019
    2:58pm
    I am pretty sure you are correct Jackie. The taxable component (that for which a tax concession has been claimed) becomes an issue when a person has died and it passed to a non dependent beneficiary (the spouse is always classed as dependent)
    johnp
    28th May 2019
    12:40pm
    Need a universal aged pension system. That way it is revenue neutral for govt and gets rid of a lot of govt bureaucracy waste.
    jackie
    28th May 2019
    6:59pm
    johnp, that will never happen in Australia.
    GeorgeM
    29th May 2019
    4:04pm
    john, yours was the 1st sensible comment, after about 180 or so, when I had a look now.
    I have provided a basic plan for all to pursue with their MPs, Treasurer and the PM, against the 1st Comment above.
    caporal
    28th May 2019
    12:41pm
    so so true mogo . It is so difficult to survive on the age pension !
    Farside
    29th May 2019
    4:36pm
    age pensioners are in the land of milk and honey compared to those unfortunate to be unemployed and not eligible for the pension. The pensioners can do without while there are so many others in more desperate circumstances.
    caporal
    28th May 2019
    12:41pm
    so so true mogo . It is so difficult to survive on the age pension !
    LadyM
    28th May 2019
    12:57pm
    Over the last 4.5 years we paid out over $40,000, ONE THIRD, of my husbands hard earned Super income, to a Nursing home his Mum, very sadly, ended up living in.
    This was on top of $100,000, her whole Aged Pension for the same period.
    I don’t know how we survived the last five years.
    The whole SYSTEM needs to be investigated!!!
    KSS
    28th May 2019
    1:17pm
    LadyM your issue is about the aged care system - currently under review by the Royal Commission. It is not a superannuation issue. That was just the mechanism you used to pay for the aged care.
    Digby
    28th May 2019
    3:15pm
    Though Lady M has a point, for another issue on this forum. My own dear Mum had to pay an $850,000 bond, and $1200 per week. Luckily she could afford it, particularly with my stepfather's non funded pension from Telecom. But what about those that have worked just as hard and can't afford it. Luckily, I know from my work as a Dr. that those on the full pension can get a concessional bed, without bonds or high weekly payments .. But the govts of both persuasions, charge 85% of the pension, which doesn't leave much over. Then the families, if there are any and if they are interested, have to make up for luxuries etc. But I would like to see whatever government is in power pay a higher rate of pension for the OAP, when people have little else. And no I am not yet of an age to claim the OAP, and if I live within my means will never be entitled (and quite rightly) to an OAP.
    KSS
    28th May 2019
    1:02pm
    How many of you have actually read the report that was handed to the Government by the Productivity Commission in December last year and made public in January this year?

    No one? Right!

    Yet at least half the people posting here profess to know exactly what is going to happen with the 31 recommendations it contains.
    johnp
    28th May 2019
    1:28pm
    Hi KSS, where can I find those 31 recommendations ??
    KSS
    28th May 2019
    2:38pm
    On the productivity Commission website.

    https://www.pc.gov.au/inquiries/completed/superannuation/assessment/report
    johnp
    29th May 2019
    11:26am
    thanks for that KSS. Notice the docs are very long winded etc but thats typical for govt
    GeorgeM
    2nd Jun 2019
    8:55pm
    KSS, if you read this YLC article again, it is discussing the Govt's plans to review the Retirement Income Systems. While a Review was recommended, the PC report was much more narrowly focused only on the Superannuation system and it's many flaws, saying:
    "In this inquiry, we have examined the efficiency and competitiveness of our super system — and whether better ways to allocate defaults are needed — with an eye to making it work better for all members (box 1). We have not looked at the broader role of super in funding retirement incomes or the impact of super on national savings, public finances or intergenerational equity — broader questions that should be answered by an independent inquiry ahead of any increase in the Superannuation Guarantee rate."

    Incidentally, I also recall there was a YLC article on the PC Report itself some months ago, probably when the PC released that report so people are not unaware. Hence, your comment is quite meaningless, as the focus of this YLC discussion is a Review proposed for the Retirement Incomes System, not a discussion about the PC Report which only covered the Super system. The PC Report was much more narrow in focus, and also appeared to allow the Govt to focus an attack on the independence of the Industry funds. People have a right to be concerned about both the right-wing PC's motives as well as that of this Govt.

    However, as the voters have decided, we have no choice but to let this Govt proceed with their agendas, including this Review. As I have noted in other posts (especially against the 1st Comment above), all MUST write to their MPs,Treasurer / PM, to push the points of view of Retirees so that these are heard.
    TREBOR
    28th May 2019
    1:38pm
    “We still haven't worked out what the purpose of the system is and how the different parts of it work together … we are still providing such large super tax breaks, too.”

    Way behind on the game... nothing new.

    "It had sought to mandate that all super funds have one-third independent directors on their boards. Industry boards have an even mix of union and employer group representatives."

    So chop back on employer group reps to fit in 'independents'? And who might these 'independents' be? (dare one ask?).

    "The PC sought an independent assessment of whether the compulsory superannuation system set up 27 years ago was achieving its original objective of raising national savings and taking pressure off the Federal Budget, the AFR reported."

    Obviously not - and nor will it until it runs through a 'lifetime' of fifty years savings... at which time the REAL outcomes from such vagaries as 'women's super' and so forth will come to the bar for questioning... put to the question, so to speak.
    BundyGil
    28th May 2019
    1:38pm
    Any retirement income review by this government should be viewed as highly suspicious. Invariably, it'll be about spending less money and reducing retirement income for pensioners
    ardnher
    29th May 2019
    6:30pm
    "review".....a formal assessment of something with the intention of instituting change if necessary. does not mean there "will" be changes and if there are changess they may be to the benefit of people ...I prefer to wait and see what eventuates.
    Big Kev
    28th May 2019
    1:52pm
    Let's see. Industry super funds outperform commercial funds 2:1. Therefore Josh Frydenburg sees necessity to change them. This is simply anti union stance.
    If they want to review retirement incomes, they should also review retirement costs. My wife and I live on a single super pension where I receive $80 a fortnight over health benefits card. We pay over $6000 a year in additional medical costsdue to doctors gap and medication costs. Id hate to be someone renting.
    Get a social worker on the committee and interview plenty of retired people! Maybe then they will give money to people who need it rather than people on $200,000 a year.
    And look at Newstart too. While your at it change definition of unemployment from John Howards less than 1 hr per week to less than the rate for sustenance pay. Then we would see real unemployment figures.
    Digby
    28th May 2019
    3:48pm
    You make some important, well thought out points Big K. Whilst I am anti Labor believing them to be mere union stooges, I certainly agree retirement costs should also be reviewed, and my heart goes out to those on the OAP (and little else) and renting. And these are often women who have given up their income producing years to raise children, who by and large are taxpayers.A social worker on the committee would be an excellent idea as well as actually interviewing retired people.
    ardnher
    28th May 2019
    1:53pm
    a review is long overdue!
    ollie
    28th May 2019
    4:28pm
    I don't call a 3 seat majority a flogging
    jackie
    28th May 2019
    7:01pm
    ardnher, review? Same Government, same problems. Nothing was resolved and nothing will be. Australia is moving backward not forward.
    GeorgeM
    29th May 2019
    4:01pm
    Yes, ardnher, absolutely necessary as we have a Broken Age Pension system which attacks Savers and encourages those who don't.
    ardnher
    29th May 2019
    6:27pm
    according to news report home buyer confidence has received a boost since the Libs won the election...now surely that is good news??
    roy
    28th May 2019
    2:28pm
    Where did MICK disappear to for a week or so plus after labor's trouncing?
    Digby
    28th May 2019
    3:53pm
    Sobbing into his red handkerchief no doubt. Wailing at the fates about the fact that the majority of the Australian voters saw right through shifty Bill and his corrupt front bench, along with their unfair policies, to vote for the party that offers a better , fairer alternative. The sad thing is he blames everybody and everything else, but the the actual things that kept labor from office, appalling policies and candidates. This is called a total lack of insight.
    ollie
    28th May 2019
    4:40pm
    I don't call a 3 seat majority a trouncing an unpopular labour leader with many seats only just won I call that a concern
    Captain
    28th May 2019
    5:57pm
    Digby, do you really think that the LNP will do anything to help retirees?

    Labor, LNP and Greens will do nothing to help the every day people in this country. They will continue to line their own pockets at our expense.

    I have spoken to our local member and the person who opposed him during the election regarding a complete revision of the current tax system and funny enough neither of them wanted to look at an overall picture just a small portion of tax. Shortsighted fools all of them.
    Paddington
    29th May 2019
    12:01am
    Digby, that sounds pure LNP trolling to me!
    Digby
    29th May 2019
    9:49am
    But Paddington aren't you the major ALP troll here, who along others of your ilk has no sense of right, values, or what is good for Australia over and above your hip pocket??
    Digby
    29th May 2019
    9:53am
    But Ollie the incumbent government was returned with an increased majority, against all poll predictions May not be a trouncing but avery clear win. I am sure if the shoe was on thee foot you would be using very similar terms. Winners are grinners and and I know which position in which I would rather be. But having said that I am no great advocate of ScoMo just very anti Labor.
    Farside
    29th May 2019
    9:13pm
    Digby, anti-Labor, say it isn't so. Who would have thought it from your comments?
    ollie
    28th May 2019
    2:47pm
    Most of the capitalists who post comments bagging people who survive on the aged pension will not be happy until we are going through their rubbish bins for a feed like the retirees do in France
    Paddington
    28th May 2019
    11:56pm
    True, Ollie, but there may be surprises for them too.
    Farside
    29th May 2019
    4:39pm
    and fair enough too Ollie. There are many higher priorities for government than kicking the tin for more pensioner benefits.
    Linda
    28th May 2019
    3:44pm
    Funny how folks voted for the side of government that said nothing about what they were going to do about a number of issues. Retired people make their arrangements, if the rules change then they are forced to consider other arrangements and see financial advisors that may or may not be working on their behalf. We may never see the real justice needed from the banking sector. Still, a review of the superannuation and retirement for Australians could make things better. It just depends on what kind of people are in government and how committed they are to actually seeing the impacts of their decisions on the massive range of circumstances retired people are in. I feel scared. We are doing just ok and can afford to get maintenance done on our home and so far pay the bills. We don't live extravagantly and we don't have any real assets besides our home. I am currently saving the federal government piles and piles of money by caring for my partner at home. 10 years of it so far. Generally speaking I am still very concerned about our young folks that are not in well paid jobs, how are they to manage? After all the talk about franking credits, and the negative campaign during the pre election circus, we now find out what a good deal those franking credits are. My guess is now, there will be an exodus into self funded, to get that free money from the government while paying no tax. The idea was certainly well aired and the benefits were highlighted and now the costs to our national revenue is also revealed. Go figure how that will turn out!! I think it is more than wrong to first in earlier years set up a system where old age pension was taxed at 7 percent. Subsequent governments changed that, but never called it welfare. Now many years later, suddenly it is considered welfare. Talk about feeling like pawns in someone else's game, that is exactly how it feels to me. I would like to feel some sense of certainty about income so I don't have to feel scared and worried about how I am going to manage as I continue to age. There are certainly no assurances as to what might be decided. If we lost some of our current arrangements our days could become very difficult. Unless folks are very wealthy, affording advice is not possible and with aging, accountants recommend going for the simple path because at some stage we oldies may not be able to make sound decisions regarding finance.
    Paddington
    28th May 2019
    8:15pm
    Linda, you sound very similar to us. I am not sure if you are SF or on a pension but that does not matter as I could relate to everything you said.
    thommo
    28th May 2019
    4:04pm
    Just pay a decent and respectable age pension to everyone...Saves $millions on administration costs in Centrelink and the taxation system will sort out those who have too much money. Simple and totally equitable.
    The current system is cumbersome and invasion of privacy and micro manages recipients and is degrading to the soul..
    GeorgeM
    29th May 2019
    3:59pm
    Correct, an Universal Age Pension system - if all can write to their MPs, Treasurer and the PM, to include this in the review. I have provided more detail against the 1st Comment above.
    Theo1943
    28th May 2019
    4:15pm
    The Election is over and now the LNP is true to their word. They said the new Government was coming after your pension and your Super. Didn't tell you it would be them though.
    ROTFL.
    Paddington
    28th May 2019
    8:15pm
    Ha ha, good one!
    cupoftea
    28th May 2019
    7:00pm
    I have read through every thing today good to see you back Mick, there has been a lot of great things written, Paddington, Jackie, etc I have lived in this country for 40 yrs well I made a phone call today I do not like living in a dictatorship by stealth well you that voted them in can keep them because I am to old do start worrying what will I have left in my super when they change things all you got to do is sign a piece of paper bon voage
    Paddington
    28th May 2019
    8:43pm
    Stay with us cupoftea we need your support. You write a lot of sense and I can hear you feel deeply about where this is all going. It is a place to vent and share. Some bully, some care, some help, but it brings everything out into the open as well. When you read the support for this government you see what it is all about, the lack of values and morals, which informed the election. Instead, money won, and the me, me, me!
    Keep posting, cupoftea.
    Cowboy Jim
    29th May 2019
    10:53am
    cupoftea - I am here in this country 49 years, still allowed residency anywhere in Europe but still like to stay here. The socialist dictatorship Shorten promised did not happen, sold all shares and no longer have to worry about franking credits. Bonne Voyage, mon ami et bonne chance.
    cupoftea
    28th May 2019
    7:00pm
    I have read through every thing today good to see you back Mick, there has been a lot of great things written, Paddington, Jackie, etc I have lived in this country for 40 yrs well I made a phone call today I do not like living in a dictatorship by stealth well you that voted them in can keep them because I am to old do start worrying what will I have left in my super when they change things all you got to do is sign a piece of paper bon voage
    Trevine
    28th May 2019
    7:23pm
    They were against Labour taking the franking credits off the rich pensioners but the Liberals can fiddle with our small pensions that we receive
    Paddington
    28th May 2019
    8:17pm
    Pensioners were not losing their franking credits although they were convinced they were.
    Cowboy Jim
    29th May 2019
    10:12am
    Paddington - the self funded people were about to lose their credits, their sons and daughters saw their inheritances disappearing under Labor so they voted accordingly. Not every older person is a poor one!!
    ardnher
    29th May 2019
    2:47pm
    people forget there are "fully" self funded retirees and "part self funded"...many of the latter I know were going to lose their franking credits and they voted Lib. in lieu of Labor this time round.
    panos
    28th May 2019
    7:24pm
    The government will eventually bring in SOYLENT GREEN..... all our problems will be solved
    TREBOR
    28th May 2019
    8:13pm
    Get a DNA test done on your Christmas ham and pork.... fat people may be disappearing from the streets....
    JO
    28th May 2019
    8:36pm
    Welcome to the untold Liberal agenda ....also comment re swing to Liberal party but in the final count Labor lost two seats Liberal gained two seats ... and WON. Just slack speculation lacking research re a Labor win. Interesting re in news who voted for which political party... AUS voting population- 13.7% MILL & GenX ..... 6.1% BB & PB ... the young still voted Liberal ...
    Paddington
    28th May 2019
    8:46pm
    The young may have been influenced by the old. Remember up higher I quoted what my brother was told at the prepolls...”Grandma won’t be able to afford Xmas presents and birthday presents.”
    ArJay
    28th May 2019
    9:33pm
    I won't say no if a review of the pension means more money but I have to say, since I gave up smoking a few years ago, I'm fairly well off. I can save at least $200 per week, after paying rent. that's $100 a week so if I owned my own place I would save $300 or more. I'm single and yes, I can hear the same tired old comments, It would be worse if I was married. Hogwash! My partner would be on the pension. very few costs are doubled up; not even food. I live in a rural area. my supermarket is a 60km round trip, as is my GP. I attend a hospital for outpatient care and that's a 200k round trip. Petrol costs are very high so I try to combine activities to 1 trip. household expenses can be controlled; it just takes common sense. you have to realise you're not getting a working income anymore and adjust your life accordingly.
    I'm not rich. I worked my whole life in low-paying jobs. My super payout I think was about $16k. I had a manageable mortgage but had to sell my house when I went on Newstart Sickness.
    I know there are pensioners and others living in severe financial stress and they need all the help they can get but a lot of people on the pension are not that badly off.
    Mogo51 is in no different position to a single income couple with kids. I think they would be doing it tougher.
    Paddington
    28th May 2019
    11:53pm
    I always thought it would be harder for a single pensioner. We don’t complain either and we have had to help others too. You are amazing though. You must be very restrained as not many would save $200 a week. We don’t drink or smoke or eat out and that makes a huge difference. I think some families are doing it tougher too. We advertised a few free things like old mattresses and people came and were going to use them as their beds.
    It costs money to hold down a job which you don’t have to do when you are retired.
    ardnher
    29th May 2019
    6:23pm
    Arjay you are not the first person who has said they do quite ok on the pension.
    Paddington
    29th May 2019
    9:33pm
    arenher, not everyone is okay. Some of us are managing for sure. It may or may not continue as well. Circumstances differ amongst pensioners. I understand that and so does ArJay.
    Happy Jan
    28th May 2019
    10:17pm
    New Zealand has what I consider to be a fairer system for retirees. The pension is paid to those who qualify (in age and other requirements such as residency) regardless of whether the person is still employed or not. It is neither work nor income-tested. Pension plus earnings are taxed. I wish Australia would introduce this system.
    Cowboy Jim
    29th May 2019
    10:08am
    Most European countries have a system like that, but VAT or GST is generally higher, pension payments are taxable and the GST has no exemptions for fresh food items like here (thanks to Meg Lees). Spent some time in NZ and I still would rather live here. Easier over there to accumulate properties, no capital gains tax (as yet).
    Paddington
    28th May 2019
    11:35pm
    There is a perceived generational inequality that maybe being addressed as part of this. Younger people are blaming retirees for their not being able to get ahead. I have seen this for a while and it was brought up again tonight. So, retirees may be about to contribute in some way by foregoing something that will help young adults.
    Also, since the franking credits have been brought out into the open many retirees are now seeking accessing this way to get extra funds. So, they may be looking at closing this somehow. It has been advertised with all the publicity apparently. It had not occurred to me but apparently many others are looking into it.
    Blinky
    29th May 2019
    11:10am
    The govt needs to increase both the asset and the income tests. They are TOO LOW. That means that pensioners who want to work have too low a limit and pensioners who have managed to save a little money are restricted by the also too low an asset test. This is pushing pensioners into the poverty level as there is no real incentive to do some part-time work or to save a little x your gollden years.
    Add to that the ongoing threat of adding the primary home to the asset test and that is a nightmare pensioners need to live with in their old age.
    In sum, changes to the pension system should be more innovative and aim at improving not worsening the system.
    Farside
    29th May 2019
    4:44pm
    The coalition dropped the limits in 2017 and have been returned. The majority have spoken. Don't be surprised if they are reduced further. If people are surviving and thriving on Newstart then clearly self funded pensioners can do with less government support.
    Paddington
    29th May 2019
    9:30pm
    Farside, where did you get that from? How are people on Newstart thriving! Have you tried living on it? Self funded pensioners is contradictory. Do you mean self funded retirees?
    You may be speaking tongue in cheek, if so, I apologise.
    Farside
    30th May 2019
    4:28pm
    Paddington, check my posts on and you will see I have long been on the wrong side of arguing for increases to Newstart. It is clear to me the majority feel an increase is not required.

    I meant to say self-funded retirees but "self funded pensioners" is a bit of future-past speak ... those part-pensioners who suddenly find themselves considered to be self funded retirees after the upper limit on the assets test is further lowered.
    Blinky
    29th May 2019
    11:10am
    The govt needs to increase both the asset and the income tests. They are TOO LOW. That means that pensioners who want to work have too low a limit and pensioners who have managed to save a little money are restricted by the also too low an asset test. This is pushing pensioners into the poverty level as there is no real incentive to do some part-time work or to save a little x your gollden years.
    Add to that the ongoing threat of adding the primary home to the asset test and that is a nightmare pensioners need to live with in their old age.
    In sum, changes to the pension system should be more innovative and aim at improving not worsening the system.
    Farside
    31st May 2019
    8:48am
    the majority of retirees do not consider raising the means test thresholds a priority issue. These limits were significantly reduced and the taper increased in 2017 without any consequence to the incumbent government. Don't be surprised if they are reduced further as part of budget austerity to keep the forecast surplus in the black.
    'Chelle03
    30th May 2019
    10:19pm
    So my question is if an person approaching retirement has no savings, investments or super - how do they survive?
    Farside
    31st May 2019
    8:44am
    regardless whether the person is a no-hoper, leaner, wastrel or one of the many other terms posters on this site use to describe people in these circumstances, the answer is with a degree of difficulty depending on the available safety net, more if Newstart, less if it is aged pension.
    GrayComputing
    1st Jun 2019
    7:41pm
    NO ASSET TEST FOR A PENSION EVER AGAIN!
    A pension is not welfare.

    Now is the season for discontent, so do something about it!
    It is time to kill off this insane hugely expensive pensioner whacking bureaucracy.

    It is time for all of us (yes that means you) to rant at our MPs and Senators daily to take action for human decency and a huge stress reduction for pensioners

    NO ASSET TEST FOR A PENSION EVER AGAIN!
    A pension is not welfare.

    Most economist say we will save taxpayers money by dropping asset testing because of the massive overheads cost in running Centrelink and the 10,000 conflicting rules.

    Hiring more Centrelink staff will only increase taxpayer’s costs for processing the creeping insane red tape monster system politicians and well paid bureaucrats have created.

    Help scrap it now. Become a hero.

    Even poorer New Zealand has a NO ASSET pension so it is cheaper and user friendly.

    Why worry that few million$ earners get it too. That is peanuts to them, not enough for a good vintage champagne.

    Do retired and retiring people really look forward and want 100++ visits to/from Centrelink and be part of 3 million waiting queues and lost calls?

    We all (that means you) need to tell our MP and senators every day that these criminal asset tests for a pension must be dropped now.
    Pramagon
    2nd Jun 2019
    1:57pm
    Because I would like to be living in an Australia capable of joining the ranks of all civilised advanced countries, even though I'm running the risk of setting off a bunch of naysayers with their inviolable sanctimonious opinions, I'd like to repeat and highlight the extraordinarily sensible comment by GeorgeM, which included:

    ... scrap the Broken Age Pension system and implement an Universal Age Pension system (for ALL with NO tests, based only on Age 65 yrs and Residency say 15 years), and join the ranks of all civilised advanced countries.

    There is also NO problem to afford it if we consider:
    a) the massive Centrelink cost savings (with payments directly from ATO following a simple application),
    b) more taxes from additional income from older people (working longer with no disincentives),
    c) less health issues & costs (with less Centrelink dealings), and
    d) by implementing a Minimum Tax system to ensure the rich and large companies (especially multinationals) pay their fair share of tax (not Nil or Negligible taxes as at present).
    The 7.5% income taxes collected for paying pensions (now part of consolidated revenue) could also be gradually separated out into a Future Fund managed independently of Govt interference (say under RBA supervision), to further guarantee funding.
    Farside
    2nd Jun 2019
    11:06pm
    Don't hold your breath waiting for the mythical 7.5% social security levy. It disappeared decades ago when the tax tables were updated.

    On the other hand if you are in the camp that believes it is somehow still part of consolidated revenue, feel free to hold your breath in anticipation. I cannot see any circumstance that would inspire a post-boomer politician to touch it.
    GeorgeM
    4th Jun 2019
    4:04pm
    Thanks, Pramagon. Never mind the comments of naysayers such as Farside. Some or indeed many of them have ulterior motives, most commonly being funded from Defined Benefit schemes such as politicians or bureaucrats receive, and some of them fear they will have to give that up if we move to a new system. I don't believe any change should have losers (as the 2017 Asset Test Changes did) hence if we move to a new system, it should be a choice for people to switch over to it. On the other hand, the massively overgenerous pensions (50-75% of their Base Salary with NO tests) for politicians elected from pre-2004 should be scrapped as they were wrong to continue paying it after 2004 (with fresh elections being new contracts).

    The objective of my comments you have quoted were of all Retirees to take up as needed (copy if you like) and write to your MPs, Treasurer / PM to consider as part of their Retirement Incomes Review, rather than their hearing only from so-called experts.
    SKRAPI
    2nd Jun 2019
    5:01pm
    AGE PENSION ISN'T WELFARE .iT WAS BROUGHT IN YEARS AGO & DECREED PEOPLE WOULD MAKE A CONTRIBUTION WHILE WORKING 2 A FUND FOR THIS . UNFORTUNATELY GOV. COULDN'T KEEP THEIR HANDS OFF IT & WHEN IT GOT INTO BILLIONS IT WAS DECIDED THEY WOULD GET INTO IT. WHAT THEY SHOULD HAVE DONE WAS INVESTED IT WISELY THEY COULD HAVE MANAGED THAT & MADE A PROFIT PLUS PAYING EXPENSES INSTEAD OF PILFERING IT , PENSIONERS HAVE CONTRIBUTED FOR YEARS .
    Farside
    3rd Jun 2019
    12:27am
    SKRAPI says "WHAT THEY SHOULD HAVE DONE WAS INVESTED IT " ... sadly they did not.

    He also says "PENSIONERS HAVE CONTRIBUTED FOR YEARS " ... unfortunately they have not. Check the labour force participation rates for the years concerned.

    And finally "AGE PENSION ISN'T WELFARE" ... it is part of the $180 Billiion paid out in social security and welfare.
    Cowboy Jim
    3rd Jun 2019
    7:07am
    Farside - you can call yours what you like. Mine is a deserved pension payment and that is what matters to me. If you do not get any - good luck!!
    GeorgeM
    4th Jun 2019
    4:12pm
    You are 100% correct, SKRAPI. The 7.5% is STILL being collected, goes into Consolidated Revenue, and no doubt wasted in the many Govt "initiatives" such as election promises or compensating for NOT collecting reasonable taxes from the Rich and Large Companies many of whom pay Nil or Negligible taxes. There are some who like to twist history, best ignored. Agree with CJ.
    *Loloften*
    18th Jun 2019
    4:09am
    Agree mogo51....pensions et al need reviewing. Single pensioners especially as apart from food & clothes, most costs like council rates/elec/gas/insurances are the same. I'm widowed & have an adorable protective dog who costs me $70/wk...approx the same as a spouse. Single OAP is $463 per wk - minimum single basic wage is $761 per wk. Neither ALP nor LNP mentioned pensioners in last Fed Election...totally ignored. I have children, their spouses & 6 adorable grandkids, can no longer afford to buy anywhere near what they like/want for their birthdays/Christmas, just little trickets from me....sadly embarrassing for me, bit disappointing for them when unwrap 'em. When will any Govn'mt realise that we OAPs want to spend on our children/their spouses & especially our grandkids but just can't afford to anymore altho' did a few yrs ago. They also need to remember that we now OAPs didn't get any Superannuation'til approx late 30s/early 40s & was just 2% back then - none for casuals & part-timers for a few more yrs. The whole pension system needs urgent review as we're now approx 20% of the population & can no longer spend on anything but basic essentials. So why are we Aussies not spending to prop up the economy....that's why.
    *Loloften*
    18th Jun 2019
    4:09am
    Agree mogo51....pensions et al need reviewing. Single pensioners especially as apart from food & clothes, most costs like council rates/elec/gas/insurances are the same. I'm widowed & have an adorable protective dog who costs me $70/wk...approx the same as a spouse. Single OAP is $463 per wk - minimum single basic wage is $761 per wk. Neither ALP nor LNP mentioned pensioners in last Fed Election...totally ignored. I have children, their spouses & 6 adorable grandkids, can no longer afford to buy anywhere near what they like/want for their birthdays/Christmas, just little trickets from me....sadly embarrassing for me, bit disappointing for them when unwrap 'em. When will any Govn'mt realise that we OAPs want to spend on our children/their spouses & especially our grandkids but just can't afford to anymore altho' did a few yrs ago. They also need to remember that we now OAPs didn't get any Superannuation'til approx late 30s/early 40s & was just 2% back then - none for casuals & part-timers for a few more yrs. The whole pension system needs urgent review as we're now approx 20% of the population & can no longer spend on anything but basic essentials. So why are we Aussies not spending to prop up the economy....that's why.
    *Loloften*
    18th Jun 2019
    4:14am
    WT.....I definitely did not press/reply 3 times. What's happening with your website YLC?
    Tricky
    18th Jun 2019
    5:33pm
    Deeming Rates, definitely need review at 3.25%.