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!!

[kengillard]

I hope my kids aren't waiting for me to fall off my twig.   The way things are going, there wont be anything left.

[izabsmiling]

Allie,Do you think that the younger generation don't see any of the older generation as not  being able to see(or wanting to see)

the grey areas where younger people are concerned? 

They can and will react to that in the same ways some of the older generation might.

It's the older generation who they are learning from though.

it's possible that some of the younger generation apply the neg to EVERYONE equally  

and I feel like saying

I am not a scapegoat of anyones past.

[polksaladallie]

---

@kengillard wrote:

I hope my kids aren't waiting for me to fall off my twig.   The way things are going, there wont be anything left.

---

Me too.  I want my very small asset value to be used for my medical care, then there will be zero left.  Doesn't matter, because my children are doing OK and don't need it.

[*elizabeths-mum*]

It would be interesting to see what the median house value across Australia would be. Even in places like Sydney, houses can be had for less than $500 000 and I would guess in many country towns $500 000 would put you in the upper end with more homes being worth less than that. Properties seem to be in a category of their own so I wonder how they would fit into the scheme?

Apart from the fact that the more that you do for yourself and go without to do so, the more you are required to keep doing, the idea of 50% of the capital gain dated from origin of need paid at death to subsidize our health care doesn't distress me.

Would a married couple lose all the capital gain? (2 x 50%)

[izabsmiling]

I can't think of anyone I know who's home is worth over $500K at the moment.As you said EM.It would depend where you live.

[*elizabeths-mum*]

We live in the wrong areas and mix in the wrong circles iza. 😛

[izabsmiling]

---

@*elizabeths-mum* wrote:
We live in the wrong areas and mix in the wrong circles iza. 😛

---

Our bad 

[debra9275]

I just found this Em

it looks as though the median Australian house price is $490,000

http://www.abc.net.au/news/2013-09-02/house-prices-rise-by-half-of-one-per-cent-in-august/4928486

with Melb and Sydney being higher than the average

[izabsmiling]

is that going on Council valuations? 

Our council is very generous with the value of our home 

[debra9275]

It looks like some real estate data. No idea here how they arrive at those figures, I dont think it would be based on council rates. The council are generous with valuations so they can charge you higher rates. that's how it works  here anyway