That great sector of the Australian community, retirees, is being set upon again by government. The issue has passed barely noticed in the media but the political consequences for the Turnbull Government are sure to be profound.
On January 1, 2017, changes to the aged care assets test will see more than 100,000 Australians lose their part pension payments in entirety. More than 300,000 will have their pension payments cut.
There is a perception many retirees are rolling in money. They have assets many could only dream of. Perhaps that’s why the media has shunned the issue.
Let me ask the question, who among us could lose 20 per cent of our household incomes and come away unscathed?
It gets worse. With the loss of the pension, the government will also cancel retirees’ pensioner concession cards which allow them to enjoy discounts on council rates, car rego, energy bills and public transport tickets. Back of the envelope, that’s three grand per annum retirees will have to find.
Full column here.
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