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!!

[nevynreally]

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@georgiajake2010 wrote:
My parents both worked their butts off - bought a few homes and are able to live guilt free from bludging off the government. My mother was a homemaker until I turned 14 (I'm 37) and they had a plan so she got a uni degree. I have the same situation - super was not compulsory but they knew not to bludge of the government. Just sayin

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This is what I meant about not understanding, the pension was the "super" for most prior to the 80's. It was paid for in advance through taxes paid.

[georgiajake2010]

They knew the government would give them bugger all so they made a life for themselves without relying on anyone else. That's the difference from the "old" people - what did you people expect?? That after working your entire lives that you would live on the same wage when retired from the government?? You should've made a plan

[georgiajake2010]

They should've saved for the future

[azureline**]

Most of them did, they did without, bought or built a house, worked and saved. My MIL died from cancer, totally unexpected, my FIL got dementia, totally unexpected.............. his house is being sold to save us paying an extra $900 pm for his care. Some people who didn't plan or are doing the dodgy, having a relative live in the home, are paying only 85% of their pension for their care.

Plans do not always work out. My OH has very little super, I have none. We have plans and savings and investments. God forbid they go wrong.

[georgiajake2010]

Paid in advance? Why not put that extra money in a bank account for their retirement?? Instead of clogging up the welfare system and moaning about how they are so hard done by - it's pathetic. You knew you were you going to get old - should've made a plan for it

[nevynreally]

LOL. Just connected the dots and worked out you're one of them.

My bad for responding.

[kengillard]

Hi Twinkles.     We've been retired and on a pension for apprx. 10 years.   we both contributed to super in our working years.

[lionrose.7]

I lost a third of my super in the crash and could never regain it as I had to draw on it for my operations and my husbands treatment for cancer.

I still feel I was  lucky to be able to do that.

[spotweldersfriend]

The days of full employment and 4%-4.5% annual growth (enjoyed by the baby boomers) are gone forever.You can only tweak the system so much.Lots of people nowdays are going to find portions of their working lives either underemployed or unemployed.All the more reason to have their super contributions increased to about 15%,si they're not such a burden on welfare payments when they retire.

[lyndal1838]

It is all very well to talk about increasing the amount of super to be paid by the EMPLOYER.....what about those who are self employed?

There is no fairy godmother to pay anything for them....every cent that they have saved comes from their own hard work. There is no "topping up" of money contributed by a kind employer.