Pension changes proposed.

[kengillard]

The Productivity Commission has suggested that the pension age be lifted to 70.

Also that those pensioners who own their own home have an "equity release" applied (basically a reverse mortgage)  and paid to the govt.   Hope it doesn't happen!!

[red_wolfey]

Lucky for honest Joe he is filled with coins like a giant piggie bank!

[acacia_pycnantha]

Joe wants to increase govt debt and has "no plans" to increase the pension age despite the demands of "the inescapable implications of demographic change".

What does he "plan"  to do with all this extra money, give it to corporations and developers and miners?

Nah, he wouldn't do that, would he?

[red_wolfey]

Get to play a  new game  at work......is the new guy sleeping or has he died?

[cherry*135]

so, what would they do in the years that the value DECREASES - give you a refund???

This is the plan:

by making them hand the government half the yearly increase in their home's value.

If there is no increase or a decrease, then Govt gets nothing that year. Some homeowners who have bought in property booms, can find the value of their house going down because they paid to much for it. Generally, most houses keep their value or it goes up a bit each year.

[lionrose.7]

They will have to include Nana naps in workers contracts 🙂

[red_wolfey]

Bring back the tea lady......problem solved!

[cherry*135]

Ha, tea ladies.. they thought they owned the place.

[acacia_pycnantha]

They will have to supply some very good on-the-spot first aid services for all the elderly workers who fall down on the job.

[lyndal1838]

If the money is only payable to the government after the house is sold does that mean that the house will have to be valued every year and detailed records kept so we know how much the government is going to get when we cark it?

Who is going to pay for that little exercise...from memory it was not all that cheap to have done.  At least it is the sort of job that can be done by an older person so I guess Valuers will be assured of jobs as long as they want them.

[rabbitearbandicoot]

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@am*3 wrote:

so, what would they do in the years that the value DECREASES - give you a refund???

This is the plan:

by making them hand the government half the yearly increase in their home's value.

If there is no increase or a decrease, then Govt gets nothing that year. Some homeowners who have bought in property booms, can find the value of their house going down because they paid to much for it. Generally, most houses keep their value or it goes up a bit each year.

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that wouldn't be fair! At least your previous increases should be offset by any decreases !! so that at fall-off-perch-time you end up with a nett figure to donate to ..... whoever.