16 October, 2016

Press Release

Turnbull Government’s treatment of pensioners a national disgrace

Leader of the Glenn Lazarus Team, Glenn Lazarus, today said the Turnbull Government’s treatment of Australian pensioners is a national disgrace. The Turnbull Government jumped into bed with the Greens to ram through legislation to taper pension payments to Australian pensioners from 1 January 2017. The changes are going to harm hundreds of thousands of older Australians.

“Changing the pension rules and pension assets test for older Australians without giving them time to adjust or plan for the cuts is a disgusting way to treat the most vulnerable in our society,” Glenn Lazarus said today.

“Under the Turnbull Government’s new rules, the pension will be cut by $3 a fortnight for every $1000 of assets beyond the new thresholds. The asset-free level will be $375,000 for homeowner couples, $450,000 for single non homeowners and $575,000 for non homeowner couples.

“Older Australians have worked hard, planned for their future and retired based on their financial circumstances.

“Without notice, the Turnbull Government has changed the goal posts and left many pensioners significantly worse off. We are not talking about wealthy people, we are talking about hard working Australians who have planned for retirement who will now face hardship as a result of the changes.

“If changes need to be made to the pension system, changes must be implemented in a way that gives people plenty of time to plan and prepare for the changes.

“The whole thing is a bungled mess. Pensioners have no idea how severe the cuts will be. Apparently the Turnbull Government is planing to let pensioners know a week before Christmas by letter.

“I voted against these changes.”