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Pension Changes - How not to make Christmas Merry

Pension Changes - How not to make Christmas Merry Dear Editor I have to add to Gary Smith’s letter in Wednesday’s Beagle/BayPost/Moruya Examiner by not wishing a Merry Christmas to the federal treasurer and all his insensitive parliamentary mates who have put a real dampener on the lives of many pensioners and part-pensioners now affected by the changes being implemented from 1st January. The double-dipping changes of a reduced asset threshold in combination with an escalated reduction of benefits for those with assets above the new threshold will not only reduce their pensions but, in many instances, stop it altogether – these people will then lose council rate rebates, driving licence and registration concessions, etc., etc.. Those most affected will be baby boomers and those from earlier generations who helped make Australia as great as it is but who have not enjoyed the benefits of compulsory superannuation during their working lives and who have been encouraged by successive governments to plan ahead for their retirement – now the rug is being pulled from under them by these rule changes just as they need to feel some security for their futures. They will certainly be more cautious in their future spending habits further exacerbating the depressed local economy, not helping it as the treasurer seems to think. Some people used to pooh-pooh those retirees who blew thousands of dollars immediately on retirement on expensive overseas trips, “spending the kids’ inheritance”, and the like, to reduce their assets in order to maximise their government pension entitlements. Maybe they were the smart ones after all, eh? Try to have a Merry Christmas anyhow – who knows Scrooge might come back! Jeff de Jager Coila

#Opinion #Federal #LocalStateFederal

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