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The pensioner problem (Read 4546 times)
juliar
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The pensioner problem
Mar 27th, 2017 at 8:37pm
 
Looks like Pensioning will be a hard slog in the future.

No problem for Socialist Labor as they would just
borrow BORROW
BORROW!!!!


Just like they did during the six sick years of Socialist waste and disgrace.




Australia could be crippled by pension spending, says Tony Abbott audit chief
Peter Martin MARCH 27 2017 - 9:26AM

Australia runs the risk of becoming the new Japan, "crippled by pension spending" unless it winds back the entitlements of a swelling aged population.

Business figure Tony Shepherd, who chaired the Commission of Audit for the incoming Abbott government, raises the prospect in the first of three studies intended to update the commission's work for the Liberal Party-aligned Menzies Research Centre.

...
Business figure Tony Shepherd has issued a stark warning on welfare spending. Photo: Brook Mitchell

The study says Australia's age dependency ratio is set to climb to the same level as Japan's by the middle of the century, when there will be only 2.7 people working to support each aged Australian compared with 4.5 people today.

On current settings 80 per cent of those retirees will be entitled to a full or part age pension, about the same proportion as today, after half a century of compulsory superannuation.


...
By the middle of the century there will be only 2.7 people working to support each aged Australian, it is predicted. Photo: Greg Newington

Spending on "non-revenue-generating payments" such as social security, defence and health, was forecast to grow faster than spending on "productive investments" such as transport and communications.

"Failure to proactively manage government expenditure risks eroding the pool of available funds both now and into the future for value-generating investments by locking it into non-revenue-generating recurrent spending," the study says.

The Commission of Audit review was released just two weeks before Mr Abbott's first budget, leaving the public with little time to the absorb its analysis of the problems before the budget presented unpopular solutions, including cuts to the pension formula, an increased retirement age and welfare cuts that failed to make it through the Senate.

Writing to Menzies Centre supporters, the head of the review's secretariat, Andrew Bragg, says the new Shepherd reports will do things differently by first outlining problems, then in June releasing options papers detailing possible solutions, and then in September a final blueprint.

The first report, Statement of National Challenges, will be launched in Sydney's Parramatta on Monday, a location chosen because western Sydney was the "heartland of Australian enterprise".

Although it offers no solutions, it says the current level of government spending is "simply unaffordable". The welfare system is described as "complex and potentially unsustainable".

http://www.canberratimes.com.au/federal-politics/political-news/australia-could-...
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Jovial Monk
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Re: The pensioner problem
Reply #1 - Mar 27th, 2017 at 8:43pm
 
Neither John useless Howard, tony abbott nor Turdfull increased the award rate of award super. So, more people on the pension.

Get rid of negative gearing, halve the CGT exemption, reform super which is now a source of tax exemptions for very high income earners, make retirees on big SMSF pay tax on their income and the Budget will soon be balanced.

Stop hitting the old, the sick and the poor and they will be happy to spend more.

The opposite of what the idiotic Libs are doing.
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Re: The pensioner problem
Reply #2 - Mar 27th, 2017 at 8:49pm
 
There goes the next lib voter base.  Thank you, current government.
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cods
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Re: The pensioner problem
Reply #3 - Mar 27th, 2017 at 9:04pm
 
Jovial Monk wrote on Mar 27th, 2017 at 8:43pm:
Neither John useless Howard, tony abbott nor Turdfull increased the award rate of award super. So, more people on the pension.

Get rid of negative gearing, halve the CGT exemption, reform super which is now a source of tax exemptions for very high income earners, make retirees on big SMSF pay tax on their income and the Budget will soon be balanced.

Stop hitting the old, the sick and the poor and they will be happy to spend more.

The opposite of what the idiotic Libs are doing.




Labor borrowed to give the pensioners $10 rise......

is that a good idea do you think??>

they got us into huge debt in the first place..

then blocked everything Abbott did to try to wind it back..

of course we know you are proud of labors efforts..

but your party had 6 bloody years   to screw it up...

at least Abbott stopped the boats...  oh wait!dont want to talk ab out that do you?.

that must have been one of krudd proudest moments...restarting the boats. Grin Grin Grin Grin Grin

we are still feeding and clothing them you know. Roll Eyes Roll Eyes Roll Eyes
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Jovial Monk
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Re: The pensioner problem
Reply #4 - Mar 27th, 2017 at 9:22pm
 
ASs now fly in on dodgy 457 visas cods, nothing got stopped for long.

The stupid, incompetent and divided rabble have been belting those with not much money for over three years cods. What has been the result? Declining retail, increasing underemployment and unemployment etc.

The Libs, with no GFC to worry about, doubled the gross debt in half the time Labor did.

Should just resign and let someone else have a go. Bit of fairness and equity would go a long way to fix the Budgetary and economic problems.

The debt could get a huge boost soon if the waste of money known as the MTM has to be brought on budget.
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Its time
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Re: The pensioner problem
Reply #5 - Mar 27th, 2017 at 9:24pm
 
If only super was 15% all those years ago  Roll Eyes Roll Eyes Roll Eyes

Who opposed that again ?
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Re: The pensioner problem
Reply #6 - Mar 27th, 2017 at 9:27pm
 
Here is a real life example of this pensioner problem.  I've mentioned several times about my neighbour widow undergoing chemo for very advanced breast cancer which may well lead into mastectomy.  She is 74.  She has a multitude of health ailments including having a pace maker she calls 'Elvis.'  She is a Presley obsessive from way back.

She is now suffering from very serious depression.

Her only viable family support is her 52 year old daughter who works like a dog in a place north east of Perth.  She left her job and 20 year old daughter to come over to 'look after' neighbour.  Said job was paying her $1600.00 net per week.

Daughter gets here and tries for a Carer's pension and is given a CentreLink brush off.

So, Widow Neighbour pays Daughter $13,000.00 to stay here to look after her.  She is in a 'nut house' dealing with the depression, and also having the chemo.

The depression is heightened because the Neighbour reckons she is 'running out of money.'  So......today....with Daughter (who has Power of Attorney,) at her request, I drive to Brisbane to see the Accountant who has been managing the Neighbour's financials.  The object was to find out exactly what the position was.

So.....turns out, this is what she has:

1.  Totally unencumbered House/Place of Residence if sold would probably net her $800,000.00.

2.  $175,000.00 in investments readily convertable to cash.

3.  Pension of $400.00 pw.

4.  From that $175,000.00 investment, Accountant has been paying her $1500.00 a month.

5.  That means she has a weekly 'income' of about $750.00, with the investment dwindling to zero after about ten years.

6.  She is distressed out of her mind with all that is going on.

Well, you 'tards...what do you reckon?
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John Smith
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Re: The pensioner problem
Reply #7 - Mar 27th, 2017 at 9:39pm
 
allowances and subsidies for super cost us far far more than what we spend in pensions.
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Re: The pensioner problem
Reply #8 - Mar 27th, 2017 at 9:40pm
 
Aussie wrote on Mar 27th, 2017 at 9:27pm:
Here is a real life example of this pensioner problem.  I've mentioned several times about my neighbour widow undergoing chemo for very advanced breast cancer which may well lead into mastectomy.  She is 74.  She has a multitude of health ailments including having a pace maker she calls 'Elvis.'  She is a Presley obsessive from way back.

She is now suffering from very serious depression.

Her only viable family support is her 52 year old daughter who works like a dog in a place north east of Perth.  She left her job and 20 year old daughter to come over to 'look after' neighbour.  Said job was paying her $1600.00 net per week.

Daughter gets here and tries for a Carer's pension and is given a CentreLink brush off.

So, Widow Neighbour pays Daughter $13,000.00 to stay here to look after her.  She is in a 'nut house' dealing with the depression, and also having the chemo.

The depression is heightened because the Neighbour reckons she is 'running out of money.'  So......today....with Daughter (who has Power of Attorney,) at her request, I drive to Brisbane to see the Accountant who has been managing the Neighbour's financials.  The object was to find out exactly what the position was.

So.....turns out, this is what she has:

1.  Totally unencumbered House/Place of Residence if sold would probably net her $800,000.00.

2.  $175,000.00 in investments readily convertable to cash.

3.  Pension of $400.00 pw.

4.  From that $175,000.00 investment, Accountant has been paying her $1500.00 a month.

5.  That means she has a weekly 'income' of about $750.00, with the investment dwindling to zero after about ten years.

6.  She is distressed out of her mind with all that is going on.

Well, you 'tards...what do you reckon?


she should downsize and use the remaining cash to support herself. Only after that is gone should she get a pension
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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Re: The pensioner problem
Reply #9 - Mar 27th, 2017 at 10:09pm
 
Yeas....and how does she do that, Mr Smith?  She is in a serious state of depression, undergoing debilitating chemo, in Hospital/Mental Health.....and by some magic wand.......it is all solved by her (she cannot even pay a telephone bill which was overdue) doing all that.

Wake up to the real World, Mr Smith.

I told her today (after walking into her Room with the Daughter to see her blubbering in a heap about her phone about to be cut off.....and then paid the account):

1.  Stop being whinging, whining, poor me, whatever will I do.

2.  You are fine. Stop worrying about having nothing.

3.  Assuming you live for ten years, you are okay.  Please don't hang around that long if you are going to blubber like that for ten years.

4.  'You mean I don't have to sell the House and move?'   "No, you don't.  You are fine, the sky is not about to fall in, you deal with the health issues, and forget about disaster.  There is no disaster."

5.  'But, I am not right in the head.'  "Damn right, you are not, but.....stop being depressed about being depressed because you dementedly think you are destitute"

6.  'Is that true, I don't have to sell the House, and move?  I cannot cope with that, Aussie.'  "Damn right, you don't have to sell with all that entails, empty your Home with all that entails, find another place with all that entails, and move in with all that entails.  Relax ferfuxsake."

You work it out from there, Mr Smith.  Walk an inch in her shoes.

There are two ultimate ironies in this tale.

1.  She was the most loyal Liberal supporter, making donations, handing out HTV cards etc you could ever imagine.  All the local Libs/Pollies know her and of her now circumstances.  Not one piece of assistance or contact from those arseholes.

2.  She was a volunteer at a Breast Screening Clinic for more than a decade, and that Clinic, which did her mammograms, missed her cancer.
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Grappler Truth Teller Feller
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Re: The pensioner problem
Reply #10 - Mar 27th, 2017 at 10:16pm
 
How would a Liberal owned jerk like Shepherd know? 

We need a nation with foresights... so they can aim straight...
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: The pensioner problem
Reply #11 - Mar 27th, 2017 at 10:19pm
 
cods wrote on Mar 27th, 2017 at 9:04pm:
Jovial Monk wrote on Mar 27th, 2017 at 8:43pm:
Neither John useless Howard, tony abbott nor Turdfull increased the award rate of award super. So, more people on the pension.

Get rid of negative gearing, halve the CGT exemption, reform super which is now a source of tax exemptions for very high income earners, make retirees on big SMSF pay tax on their income and the Budget will soon be balanced.

Stop hitting the old, the sick and the poor and they will be happy to spend more.

The opposite of what the idiotic Libs are doing.




Labor borrowed to give the pensioners $10 rise......

is that a good idea do you think??>

they got us into huge debt in the first place..

then blocked everything Abbott did to try to wind it back..

of course we know you are proud of labors efforts..

but your party had 6 bloody years   to screw it up...

at least Abbott stopped the boats...  oh wait!dont want to talk ab out that do you?.

that must have been one of krudd proudest moments...restarting the boats. Grin Grin Grin Grin Grin

we are still feeding and clothing them you know. Roll Eyes Roll Eyes Roll Eyes



You mean the Libs don't borrow to give the Army guys a $10 rise?

what is it that drives people to focus on ONE tiny component of a budget when considering the cost of that budget?  No $10 increases in cost of tank shells?  No $10 increases in fuel costs to run destroyers?  No $10 pay rise for public servants?

WTS is wrong with you people?  Are you driven only by the empty words of some idiot in government who wants to tell you that paying a person $10 a fortnight more is the whole problem with borrowing billions?

Abbott and Co blocked everything they could.. that's why he was called Dr No...... and now you pick on a Senate that thinks the current lot's budget ideas are rubbish, and have done so since 2013?  Now Abbott's Co borrow far more than Labor did in more than double the time...

Nobody 'stopped the boats' - they diverted them and we're still feeding them.  The only difference between onshore and offshore processing is that this government added the proviso that those people, even if approved by the same standards, will not get to come here.  You seem to think that people living in a totally enclosed processing centre equates to wide open borders... go try it some time.

None so blind as the abysmally stupid.
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« Last Edit: Mar 27th, 2017 at 10:25pm by Grappler Truth Teller Feller »  

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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John Smith
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Re: The pensioner problem
Reply #12 - Mar 27th, 2017 at 11:02pm
 
Aussie wrote on Mar 27th, 2017 at 10:09pm:
Yeas....and how does she do that, Mr Smith?  She is in a serious state of depression, undergoing debilitating chemo, in Hospital/Mental Health.....and by some magic wand.......it is all solved by her (she cannot even pay a telephone bill which was overdue) doing all that.



her daughter has power of attorney, use it

she sounds like she needs to be in a nursing home where they can care for her anyway.
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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John Smith
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Re: The pensioner problem
Reply #13 - Mar 27th, 2017 at 11:03pm
 
Aussie wrote on Mar 27th, 2017 at 10:09pm:
Yeas....and how does she do that, Mr Smith? 


i thought we were discussing the pensioner problem, not her own problems. They have happy drugs that can help her with her problems.
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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cods
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Re: The pensioner problem
Reply #14 - Mar 28th, 2017 at 5:53am
 
Jovial Monk wrote on Mar 27th, 2017 at 9:22pm:
ASs now fly in on dodgy 457 visas cods, nothing got stopped for long.

The stupid, incompetent and divided rabble have been belting those with not much money for over three years cods. What has been the result? Declining retail, increasing underemployment and unemployment etc.

The Libs, with no GFC to worry about, doubled the gross debt in half the time Labor did.

Should just resign and let someone else have a go. Bit of fairness and equity would go a long way to fix the Budgetary and economic problems.

The debt could get a huge boost soon if the waste of money known as the MTM has to be brought on budget.



oh! if you cant see the difference in them and boat people..

no good arguing with you. Roll Eyes Roll Eyes
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