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!!

[*crikey*mate*]

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@rabbitearbandicoot wrote:

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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.

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sometimes Rabbit, these folks in suits who sit in their cushy offices and make decisions on behalf of so many demographics whilst trying to "squish" them all under one category, seem to have a strange idea of what "fair" is

[monman12]

What a lot of chip laden shoulders combined with a little misunderstanding of social economics on show!

ONE in every four households survives on social security payments, with Australian taxpayers now forking out more for welfare than health care.

Annual welfare costs have grown to a staggering $119 billion - or $1300 for every man, woman and child. ($131.6 billion 2012-2013)

Of the Australian taxpayers it would appear the top bloodsucking fifth quintile pay  10X  the tax that is paid by the 1st  quintile "battlers."

However, where benifits are concerned the 1st quintile "battlers" gobble up 350% more in total benefits than the 5th quintile!

[topsidesoul]

You called them bloodsucking......also personal attacks are the first sign you have no point.

[lionrose.7]

So after working all your life and paying taxes you are called a blood sucker very nice.

[lakeland27]

no, he's jokingly calling top earners that,

[izabsmiling]

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@kengillard wrote:

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!!

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that isn't good.

Some probably didn't expect that they might be put in 'welfare scrounger' category which has been amplified over recent years?

[icyfroth]

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@lionrose.7 wrote:

So after working all your life and paying taxes you are called a blood sucker very nice.

No. There are pensioners who have worked all their life and have contributed taxes, and there are those who have not and are sitll drawing a living from the taxpayer.

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[georgiajake2010]

Maybe you should've made sure the super is enough to live on. My parents have done it and do not receive any pension - because they knew to look after their future

[polksaladallie]

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@georgiajake2010 wrote:
Maybe you should've made sure the super is enough to live on. My parents have done it and do not receive any pension - because they knew to look after their future

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Superannuation was not available to women until relatively recently.  What were those women supposed to do?   They are among the most impoverished people in the country.

[acacia_pycnantha]

Of the Australian taxpayers it would appear the top bloodsucking fifth quintile pay  10X  the tax that is paid by the 1st  quintile "battlers."

However, where benifits are concerned the 1st quintile "battlers" gobble up 350% more in total benefits than the 5th quintile!

Just goes to show how much money that 5th quintile earns, that despite being able to afford good financial advice which helps them minimise their tax obligations, they still pay 10 x the tax paid by the 1st quintile battlers.

That the 5th quintile should  need only minimal or even no social secuity assistance, should cause no raised no eyebrows.