The federal government will spend $600 million on a pension boost for older Australians in a new pledge to ease growing complaints that payment rules are "short-changing" people who have saved cash to help pay for their retirement.
With older Australians feeling the impact of the lower interest rates on their earnings, retiree groups have urged the government to cut the official "deeming" rate that assumes how much a pension recipient earns on private investments.Deeming is a set of rules used to work out the income created from financial assets.The main types of financial assets include savings accounts and term deposits, managed investments and listed shares.
Ms Ruston will promise "more money in the pockets of older Australians" as a result of the new settings.
Source: News Formal (newsformal.com)
IsaD88 CroweDM Perhaps some facts might help you David. The liberals have a shameful record in their treatment of pensioners. One that every newspaper should point out. Somebody needs to help them.
CroweDM You mean self funded retirees
CroweDM If course, it’s a pensioner tax
CroweDM Tax bludgers will always want more
CroweDM It’s interesting to see the power this group of Australians holds over the Morrison government compared to younger workers who just had their wages cut again by Income Killer Morrison through another reduction in penalty rates with none of the additional jobs that were promised.
CroweDM you can solve your pension funding problems by putting expiry dates on birth certificates
CroweDM Les invito a visitar el blog de Avatar Energía,sobre energías renovables,vehículos eléctricos,ecología,reciclaje y cambio climático,para ayudar a crecer y a difundir la información tan importante para que mejoremos el planeta.
CroweDM And on Insiders Frydenburg just called pensioners...welfare recipients !
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