The Meeting Place

Retirement Income

Much has been said about franking credits in this last election campaign. However, not much has been said about the reduction of aged pensions in the last coalition budgets for part pensioners. 

I personally had my pension reduced by approximately $20/fortnight. This was implemented by our newly appointed government. How is this fair? 

How hypocritical is this when they have been spruiking a retirement tax in the Labor Party's plan to reduce Franking Credits? What is good for the Goose....

Many of us part pensioners have a small nest egg to help us retire in dignity on our part pensions.  How is it fair to have our pensions reduced and yet look after rich retirees living on their large franking credits lawfully? 

I don't envy those with large portfolios of shares, but I do not understand why us with smaller incomes or nest eggs, have their pensions reduced. How is this fair? Is this another example of looking after the big end of town?

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Politics come a close second in discusson of retirement incomes. We have people looking to retirement with various levels of savings and investments or neither. We all know that regardless of political persuasion we want all Austalians to retire with satisfactory access to the basics and if you do not include it in those also to good health and happiness, to community and knowledge. Faced with a declining population we have to work out how to do that.

While there are fresh possibiities like part-time work, paid mentoring, care, a soverign wealth fund based on raw materials sales and the like the equation may not be as diffiult as it sounds. The first scan needs to assure that those with nothing have these things at a satisfactory level. Those that have something but are below it need to be elevated to that level. It doesnt matter what they have done or not done in their lives, it is a matter of dignity. Those above are the difficult ones since they need to be encouraged to look to being in their position but with an access to the countries benificence which trails increasing wealth.  

We can be gung ho about treatment of people with the least and those which don't reach a minimum level of income but the vast majority of Australians do not want starvation in the streets, people without a roof over their heads or wam clothes. There are dangers to all with that. Jealousies just don't stand that test.

The job may invoive training to live better with less and to plan better for retirement but in the end it is a job almost all of us want done efficiently and well. 

In the context of declining work and incomes we are going to have get smarter, perhaps a little meaner.

I have always said I am happy with what I get. I think the amount you can have before you lose your pension is a lot actually. The ones I feel sorry for are the single pensioners who rent and have no cash backup whatsoever. In other words, they have no assets at all. Maybe a bit of furniture and clothing! 

If you have a Seniors health card you are also well off.

I think people have a rather warped idea of what poverty looks like. 

I totally agree with you Paddington.  You are not the only one I know who is very happy with the pension and the concessions.  


I would be happy to just have the concession card.

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