There is a huge difference between an Age Pensioner and a Self-funded Retiree.  So don't go getting confused.

This thread was about Age Pensioners taking off their shirts in protest to Rudd not doing anything for them in the Budget!  

An Age Pensioner can own their own home and have up to $166,750 in the Bank and still get a FULL Pension of $270 a week as a single Age Pensioner.  A couple can have up to $236,500 in the Bank to get the full Pension of $220 a week each.

The tax rules changed last year so any interest received from the money in the Bank (or invested) isn't counted as "income" any longer.  However, if those Age Pensioners took a Superannuation Pension and rolled the rest over, their Super Pension is considered income and the Age Pension reduces by x$ per week/fortnight. These people get a Part Age Pension.

An Age Pensioner gets a Pensioner Concession Card.

The tax rules also changed with regard the need to lodge a Tax Return. Something like under $25,000 for singles and whatever for a couple, with the Tax Offset, etc, they don't need to pay tax.  Income above those amounts need to lodge a Tax Return.

Self-funded Retirees can get a Seniors Concession Card and I outlined the details in an earlier post.  Self-funded Retirees would have to lodge a Tax Return if their (self funded) income is over a certain amount.  They can NOT get an Age Pension.

The whole point of the matter is that there ARE Age Pensioners out there who do not own their own home, do not have money in the Bank and who have to try to survive on a mere $270 a week (single) or $220 a week (couple).  These are the people that need more help, not the Age Pensioner with money in the bank OR the Self-funded Retirees who own their own homes.

Mantra, as a side note, check your neighbour's "health care card".  If it is a Pensioner Concession Card they get the Age Pension (and have money in the Bank) if it is a Senior Concession Card, they are Self-Funded Retirees ....

Thanks Nef. Can you give a link to where you got that from?

Amadd, all labour markets are experiencing a shortage. It is the resulting increase in wages that is driving inflation. That is, houses cost so much because people have that much money to pay for them. Plus, the shortage of builders is driving up the cost of building a house.

freediver wrote on May 19^th, 2008 at 9:05am:


The information on Age Pensions and the Senior Concession Allowance (and the relevant Pensioner Concession Card and Senior Concession Card) you can get off Centrelink

http://www.centrelink.gov.au/  Check under A-Z listings.

The information about Taxation is on the ATO link under Individuals

http://www.ato.gov.au/individuals/ then check under Retirement.

freediver wrote on May 19^th, 2008 at 9:05am:


IMO FD, the labour shortage argument is a sham. It's just an excuse to bring in cheap labour.
The inflation that we are now enjoying is driven by high fuel and food prices, not wage increases. Real wages are far lower due to the current cost of living.

I have no idea how some people manage to put food in their kids mouths these days, and I have no idea how pensioners manage to survive on the poultry amount that they are given.

Meanwhile, banks and large companies are still making their record profits.

I saw Rudd on the 7.30 Report about the Budget and Age Pensioners the other night where he said something along the lines of "$500 Bonus plus $400 extra in the Utilities Allowance".  So I checked it out!

The $500 cash Bonus that Howard initiated, is (apparently) to be paid "before 30 June"  which is fair enough, but the people I know on the Age Pension (or Vet Affairs "Widow' Pension) do NOT know this.  Rudd "upgraded" the Age Pension utilities allowance from $107 (or something) per annum, paid quarterly to a quarterly payment of $125 ... difference $393.  

Hate to say this but Rudd was telling the truth!   Provided the $500 is automatically transferred into the Age Persons bank accounts and I expect that it will be.  Centrelink say nothing about it.

I'll keep tabs on the Aged Persons I know.  Most are happy with their lot anyway and throughout their lives SAVED for whatever they needed.    Needing and wanting is a different kettle of fish.   These people are now in their late 70's or mid 80's, they don't want much other than to be comfortable in their Old Age and stay in their own homes.

The Old People I feel sorry for are those who don't have a roof over their heads for whatever reason.  The can't possibly live on $270 a week, pay rent and feed and clothe themselves.  Who knows why they are in that situation. Perhaps they made bad choices years ago?

As a Liberal voter, I certainly don't believe that everyone is "equal" and ALL should get the same ... people who work hard and earn more than the average shouldn't be paying for those who didn't think further than tomorrow.  

I do believe that Aussies are becoming a bunch of whingers.

You are wrong Deepy. There are a couple of equivalent ways of measuring inflation. One is to measure wages. That is, wages are a measure of inflation. This is basic macroeconomics.

Deepthought you really should get yourself an intro to economics textbook and have a read. You cannot get away with pretending to understand economics.

Whether wages rise or fall in Australia is irrelevant and has no impact on the CPI other than a contributory affect on the 'basket of goods'.

You are wrong Deepy. We were talking about inflation, not the reserve bank CPI. That CPI, and the 'wage index', are both attempts to measure the same thing - inflation. The only difference is the inaccuracies involved. A truly representative 'basket of goods' and a truly representative 'wage index' would be mearurements of the same thing.

Like I said, this is very basic macroeconomics. You cannot get away with pretending to understand this.