Thursday, February 16, 2017

Australian pensioners alarmed

Welcome to our blog, Genzano it story
and this post, Australian pensioners alarmed
Pensioners are sick or old people that are not able to work anymore. Because they don't have an income, the government pays them a pension, that enables them to live a modest life.
Australian pensioners alarmed
Let us start from the beginning
Dear readers, we apologize for not continuing writing this time our old man story, but you see I have something that is happening right now to write about, which is about the Australian pensions that are changing.   
Now, let us start from the beginning and talk about the man that brought in this disaster, because he was unable to see what his budget would do to the Australian pensioners and other institutions. This disastrous budget was delivered from the then treasurer Joe Hockey the 13 of May 2014, today we are still finding how terrible this budget was. Because the 1st of January 2017 some Australian pensioners have lost some pension payments, which we are going to talk about in this article. But first let us see how the expert have described this budget at that time it happened.  So, here I quote:
The austere budget faced widespread criticism and was overwhelmingly rejected by the Australian public as reflected in all opinion polls after its release.[3][4][5] Opposition to "unfair" budget measures came from the opposition and cross-bench, pensioners, economists, the union movement, students and welfare, community and disability groups with some taking to the streets in protest. The budget included changes which were contrary to pre-election commitments and promises made by the Liberals in opposition.[6] Critics argue that every one of the following pre-election commitments made by Tony Abbott were broken in the first budget: "No cuts to education, no cuts to health, no change to pensions, no change to the GST and no cuts to the ABC or SBS."[7][8] Echos of the "dead and buried" Fightback! policy package from the 1993 election occurred with proposals to defer unemployment benefits for six months for under 30s and the removal of GP bulk billing. Most proposals have since been shelved, dumped or modified.
End of quote.
Anyhow today Joe Hockey, has moved out of politics, but the politician have given him a very good job, with a very good pay. Meanwhile the Australian pensioners are hurt from those changes to the assets test that he proposed. Here one would ask, if he really wanted to save money to the government by cutting the pension, why he didn’t propose to cut his own pay and the other politicians pay, since they seem to receive a ridiculous high pay for their services they do. We think that this is only fair, since we are all in the same boat of Australia. Now, let us talk about the Australian pensioners.
 Pensioner are alarmed   
Yes, dear readers, today the Australian pensioners are alarmed, they are alarmed because they feel that the Australian government is ripping them off. They feel ripped off because the changes that are taking place from the first of January 2017 are unfair to some of them. We believe that they are right to feel alarmed and upset, so, we are going to view and write what they are concerned about.
Therefore, in this article let us talk about these Australian pensions, since most of us would be personally interested about. I should admit that I am not an expert in politics and government matters, however sometimes we try to have our say. As you know we have talked about the Italian politics in a few articles, we have written one about Obama the American politics too. So, now let us talk about ourselves, the Australian politics and a few things that affect us directly, we are going to talk about the Australian Pensions that are changing, from the first of January. This change is going to hurt a lot of people that rely on part of the Australian government pension in their old age.
Here we are talking about retirees that have not got enough of their own funds to retire and live a modest decent life, so, they rely on the Australian government for a full pension or part pension. This article is being written to express the alarming views of these part pension retirees, which are going to be affected from this change. In their views, what hurts most here is that the people that have got no assets, because they have never worked hard and tried to save money they will still receive the full pension from the government, but those that have worked hard and saved their money, hoping to have just a bit extra cash when they retied will have the pension reduced and in some cases completely cut off. we believe that that is not right, because it is the people that have worked hard and saved their money, these are the people that have paid most taxes in the past.
Anyhow, here are some figures that have been published on the net.  
About 330,000 Australians will find their pension cut from the 1st of January- 90,000 will be losing it entirely, because of the tighter assets test. I believe that it is not fair, because it is already hard for pensioners to live a modest life peacefully.
So, if the federal government loses next election, because of what they have done, they deserve it. Anyhow, let us look at some possible outcome, and how people could react to these pensions cut. Here we are going to write about some imaginary case of what some people could do, because they feel that they are being discriminated and punished for being good honest citizen.
Anyhow, here we are going to talk about a case or two, as an example. You see, before this pension was cut, this couple had accepted that the government would give them only a part pension, so, they tried to live with that, but now that pension is being cut, so they don’t know what to do, because it is going to be hard for them to live a decent modest life. Let us talk about their concerns.  
Some pensioners’ concerns
Here we cannot use real names, so, the name that appear in here are not their real names.
Mr. John Day and Mrs. Ann Day are two aged pensioners, they have received a part pension for few years now, as they are both 70 years old, so, they are aged pensioners.
Anyhow let us describe how this change will affect them, in this case of Mr. and Mrs Day.
Mr and Mrs Day own two houses, they both live in the same house, even though they are not on the best terms with each other, and it is said that they will end up divorced soon. Anyhow they are still living under the same roof as husband and wife, so they receive their pension as a couple, which is less than if they had the pension paid as single people, so they start thinking if they are doing the right thing, or they should do a few things to improve their financial position. So, let us compare what is happening to their pension first.  
 As we have said, Mr and Mrs Day have two house one they live in and another one they rent, so, the house they rent is calculated as an asset, the value of the house is set at 520,000 dollars, add to that a few more things they have, they have 550,000 dollars’ assets, so their pension is calculated on these assets, as it was before they told me that they were getting from the government about 450 per fortnight each, from the 1st of January, they are going to get about 350 dollars per fortnight each. This is not enough to live with even if you try hard.
The house they rent, today it is rented at 400 dollars per week, because they could not rent it any higher, now, that is not net money, because they should pay all the fixed expenses, like the rates, the water and other urban utilities, the insurance, the maintenance. But that is not all, because sometimes the house is vacant for several weeks until a new tenant is found. So, there are times when in a year, they can average from the house only a bit more than 200 dollars per week.
Here one needs to ask, where and how the government people work out this new law about the assets and how much you earn. I believe that it should be worked on a real possibility that you would be able to earn at least as much money as the full pension, before they cut the pension.
Anyhow, at this point of time I believe that this article is becoming too long, so, the facts and figure about this example will be discussed in our next post. Where we will be talking about, Assets and pension cut.
See you soon.
Genzano it story
Pensioners alarmed
Next time with, Assets and pension cuts

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