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!!

[bella_again]

It won't happen there is no way that kind of legislation will get far. It is possible however that they will come up with a revised plan to achieve some of the objectives they are wanting to achieve.  I don't know what the answer is but the simple reality is that the govt need to access funds in order to continue to support the country into the future.

I believe that there are many other ways to achieve this without this kind of policy. If this kind of idea is what the future holds then yes it is concerning.  As far as I am concerned my house is my down payment for the kids to have care when I am gone.  Take that away and they have nothing.

I can't see the people of Australia putting up with that kind of policy and I have a feeling the Abbot government won't last beyond one term unless they get in touch with where the Australian people are at.

[topsidesoul]

No pension till your 70, no touching your super and a chance to have a small chunk of your house?

The nads on these people......

[topsidesoul]

Do not forget  that Australia is one of the wealthiest nations and we have people contemplating this?

Imagine if we were Spain or Greece or Japan ? Oh ..........wait, other countries such as Japan respect their elders.

Australia respects our elders around election time wghen we need those precious votes!

[kengillard]

I'm pretty sure the gov.....any gov.   knows how powerful the "grey" vote is and wont jeopardise it!!

I HOPE SO!

[topsidesoul]

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@kengillard wrote:

I'm pretty sure the gov.....any gov.   knows how powerful the "grey" vote is and wont jeopardise it!!

I HOPE SO!

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the grey vote forgets verry quickly.

[freshwater-2]

No pension till your 70, no touching your super and a chance to have a small chunk of your house?

 The nads on these people......

Of course  MPs will collect their incredibly generous TAXPAYER FUNDED parliamentary pensions and travel lurks, etc. from they day they retire from parliament, (some in their 30's and 40's) for the rest of their lives and it isn't affected by any future earnings once they have resigned.

Something is very wrong here !!!!

[the_hawk*]

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@freshwaterbeach wrote:

No pension till your 70, no touching your super and a chance to have a small chunk of your house?

 The nads on these people......

Of course  MPs will collect their incredibly generous TAXPAYER FUNDED parliamentary pensions and travel lurks, etc. from they day they retire from parliament, (some in their 30's and 40's) for the rest of their lives and it isn't affected by any future earnings once they have resigned.

Something is very wrong here !!!!

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Yes there is.

perhaps they shouldnt get theirs either till they at 70