Now in retirement, I now find myself the target of the government's plan to reduce expenditure by restructuring access to pensions. I do resent that my group is carrying the full burden for all people with super funds, even those with huge amounts which are recipients of such significant tax relief.
Surely these people should carry some of the load, but Prime Minister Abbott has specifically said that they are protected.
If he's aiming for fairness, he has missed the mark on this matter and I hope the Senate considers this.
Buying a more expensive house
My wife and I are in that group that the Government has declared to be rich and unworthy of a pension. In fact we have $875,000 in our SMSF and cash etc. Our house is worth $425,000 so we are wealthy at $1,300,000. We are getting approx $10,500 part aged pension.
It seems that we are in that select group of 81,000 that has been chosen to be sacrificed, just because of our new classification as wealthy.
But what about the aged pensioners with a house worth $875,000 and SMSF/cashable assets of $425,000? Yes, the same asset value as us. They are said not to be wealthy and will have a part pension of $32,000.
Are they not just as wealthy as us? Yet we are the sacrificial cows.
I guess we could buy a more expensive house, but that seems to lack sense.
I am really asking the Government to be fair!