Bet you get at least twice that in Vietnam, Russia, China, New Zealand or maybe Sweden? The rate at which your fortnightly Age Pension is paid depends on a number of factors: whether you qualify for a full or part Age Pension, your level of income and assets and whether you earn money that can be considered exempt under the Work Bonus Scheme. I … klaus says: March 28, 2020 at 6:36 pm. careful boof,you will be torn to pieces by the self funded mob. Age PensionDeeming RatesfinanceMoneyRetirement Income, by Keep an eye out for the payments to start flowing through on these months, but note they may not appear in bank accounts for a few weeks - pensioners can check MyGov to make sure their details are correct. :)). Now they aren’t accountable for those shoddy high rise apartments. Well fearlessfly, on behalf of myself and the vast majority of readers of this column, I have to say, you know where the door is, catch a plane, catch a boat, swim away with your family shackled to you. KSS totally agree with wh a t u said. Are we really that bad? The money will go to aged and disability pensioners, veterans, people on carer payments and family tax benefit recipients. Only ‘Part Pensioners’ ; people with monies still in Investments and or Superannuation will be affected by the ‘Deeming Rate Cut’ NOT the ‘Full Age Pensioners’ who will only receive the normal six monthly increase. The single welfare benefit has increased to $907.60 a fortnight from $894.40, with the pension and energy supplements included. Jackie, I agree 100% whatever the government gives with one hand is taken back double with the other, just watch there will be a media campaign convincing everybody not on a pension that pensioners with houses are causing all the problems. Help to report your employment income. Some pensioners will benefit from transitional arrangements that will apply to those currently on a part-rate pension who would otherwise suffer a loss of payment rate under the new higher taper rate. 7 October 2020, 12:00 am. And for a whole year !! “Although the changes for the vast majority of pensioners are relatively small, having some extra money in their budgets to tackle cost-of-living expenses is a positive thing. The $30.92 will only be paid to those who meet the asset cap of $540,000 for single non-homeowners. Winter’s SAD toll – are you experiencing these symptoms? The single welfare benefit has increased to $907.60 a fortnight from $894.40, with the pension and energy supplements included. If you are on an age pension you will lose any extra payments except the basic pension if you are overseas for longer than 6 weeks! Just $2- less then a politician’s daily meal allowance !! Will Brodie Leon Della Bosca Australian pensioners are accustomed to ‘great news releases’ about a few crumbs being thrown to pensioners, the same bone-weary poor old bastards that worked their guts out to pay for the gaggle of incompetents now masquerading as political leaders that had the hypocritical gall to chorus, “we’re all in this together” bullshit! Also, only part-pensioners who are affected by Deeming Income Tests (around 25%? Single pensioners could be up to $804 a year better off and couples $1000 a year better off after September’s new deeming rate drop, new modelling from AMP shows. JobSeeker... More than five million Australians have received welcome news with an increase to their social security payments from 20 March... YourLifeChoices is Australia’s longest established and most trusted digital publication and website for the 50+ audience, with a core focus on helping Australians navigate midlife and the retirement landscape. Read the latest news for people with disability. Share your opinions in the comments section of our articles. Not true Fair Dinkum. If you have fewer assets you will get less. In raw dollars it is not much different to our, but it has way better buying power. As I understand it an income is deemed on the basis of those assets. So what can be done, asks Peter Whiteford. Leon Della Bosca STATE PENSION payments are set to rise in April 2020, under the triple lock. When there was no indexed increase to the Age Pension last month, the first time indexation had not been applied in 25 years, the government promised there would be some support in the Budget. Yes, but not all. Wondering how much that pay rise will mean in real terms after tax, PAYE and National Insurance Deductions? HOW ABOUT TELLING THE COMPLETE FACTS AND NOT GIVING THE WRONG IMPRESSIONS! it starts at the top and the largesse trickles down mainly in Govt salaries, perks, plus the large companies, the upper managements etc e.g. The Disability and Pensioners are the one who are doing it tough not the long term unemployed. Individuals will receive a maximum fortnightly pension boost of $30.92 for non-homeowners with financial investments up to $540,000, while non-homeowning couples with a maximum $670,000 in total investments could receive a fortnightly pension increase of $40.50. What a grand life it is in this circus act called Australia !! (July). “A lot of people will be quite upset about not getting an increase on 20 September. Although usually, we have to buy cheaper. It’s really not that much to whinge about. I think that amounts to discrimination. Nor can I – we just carry on – with a mortgage, BTW….. cheaper than rent, but still – no dollars thrown that way…, Why do businesses and government use marketing like $55.99,$843.99 $77. KSS is correct, even after 6 weeks you get the pension, you will lose the pension card re-instated after your return; no good in other places anyway! I wonder if respondents that envied the Jobseeker payments over recent months would exchange their permanent aged pension $944/fortnight for jobseeker $565.70/fortnight plus temporary covid allowance? Previously the ONS had calculated earnings growth between May and July was 4% but it revised this down to 3.9% yesterday. Share your opinions for your chance to win great prizes! So an extra $2,000 in a 12 month period is worth rolling around on the floor laughing? Even if you’re not eligible for any benefits from Centrelink, you may qualify for a Low Income Health Care Card... From 20 March 2021, JobSeeker rates and thresholds will be indexed. PENSIONERS and people approaching retirement could lose out on £7,000 in pension credit and housing benefit if they don’t apply for the support by May 15. Rent Assistance rates and thresholds will increase on 20 March 2021. Once again, the Gov’t misses an opportunity to spread some help around fairly. The promise was kept with two $250 economic support payments announced on Tuesday night. The Government was to evaluate whether they needed to be extended, but I’m not sure they were. The rise of $13.20 equates to extra $343 a year. Millions of people's benefits will rise by less than the price of a pint of milk - while Universal Credit claimants might suffer an £85.05-a-month cut This is what you told us, Labor promises a ‘stronger, fairer and more secure future’ for all, The Budget overlooks the hardest hit in favour of the hardest hats, Changes to JobSeeker rates and thresholds, Age Pension and supplements set to increase this month. The true headline should be something along the lines of ‘Deeming Rate Cuts to come into affect along with Full Pension rate Half yearly Rise’. He believed in unions, creating jobs, and making it possible for every Australian to own a home as well as social security for Australians. Just one example was Telstra when sol trujillo was in charge. Joy Anne, NO the pension does not stop all together if you go overseas for longer than 6 weeks. Even if you’re not eligible for any benefits from Centrelink, you may qualify for a Low Income Health Care Card... From 20 March 2021, JobSeeker rates and thresholds will be indexed. Will Brodie The Government did by allowing it shonky land developers to do it. Take part in monthly surveys to help us shape content that is relevant to your age and stage. That is 12 fortnightly at $550 extra which is $6,600. Pensioners set to get a pay rise. “Pensioners will have two reasons to smile in September with the scheduled increase to the pension coinciding with the deeming rate cuts,” said Mr Perri. You would say ‘it is for us’, not ‘it is for we’, why does the word ‘pensioners’, or any word, after this make any difference? Most of this still goes on today. [Rolls around on the floor laughing his head off]. The government also announced that low and middle-income earners will receive a one-off additional benefit of up to $1080 from the low and middle income tax offset (LMITO), which was scheduled to be removed as part of the stage two tax relief package. I hope the Asian and Indian customers wake up to the scam and realise Australia is no longer a fair dinkum place any longer. I find this headline most disappointing and misleading because as a lot of articles in both newspapers; magazines and online groups have a tendency to ‘flower up’ the articles. Pensioners got more in 2019/20 and will get more in 2020/21 and still they gripe that others received a hand up. They’ll get a pay rise of $19.50 per fortnight. The laws increased a tenant’s security for an initial period of six months. Do life insurance payouts affect the Age Pension? NZ pensioners can work, but are taxed on additional income. Likewise own your own home and you will get less, have more assets and you will get less. All NZers (including pensioners) put in an annual tax return and the IRD (our ATO) taxes incomes above certain tax-free thresholds. Deeming applies to financial investments such as listed and unlisted shares, insurance bonds and saving and term deposit accounts, among other assets. Just look at the dorks they elected to lead the country ! “However, we are disappointed that there is no increase in the inadequate Commonwealth Rent Assistance maximum rate, and that older unemployed people will still have their savings plundered by the Liquid Assets Test at the very time they should have retirement savings protected.”. Confirming the salary increase, the Defence Secretary said: "The Government is committed to world-class public services and ensuring that public sector workers are fairly paid for the vitally important work that they do. Totally agree. Reply . Other than better managing COVID-19 the major differences were a 20% pay cut for politicians and public service staff and zero tolerance on thwarting the lock-down. Millions of pensioners will receive a pay rise of 2.5% from April 2021, in line with the triple lock guarantee – equating to a boost of up to £228.80 for the year. Find out what the new payment rates and limits... Changes to income and asset thresholds will take effect from 20 March 2021. Many who receive the payment will spend it on bills, elec, gas which does nothing to boost the economy anyway. Among them are pensioners and self-funded retirees, as well as people living with disabilities, their carers and low-income families. I am sure some pensioners really need the extra, Floss, but I don’t know any pensioners who aren’t very well off – far better off than I am as an SFR. It doesn’t mean people are any more lazy, but it does often reduce their earning capacity. Reply . Australian pensioners doing it tough during COVID-19 have received some good news with the federal government announcing two cash payments as part of the 2020-21 budget.. Pensioners will receive a $250 cash boost in December and another $250 in March next year. Currently, less than 10% of the population of people with disability in Australia are supported by the NDIS and are therefore unable to access and pay for the additional supports and services they may require during this unprecedented crisis. I just want back the money the LNP stole from my part pension with the 2017 changes to the Pensioner Assets Test. Will you then be eligible for the Age Pension? The payments are exempt from taxation and will not count as income support for the purpose of any income support payment. Must admit I do not necessarily need the newest $250 I shall take it and use it the way I feel like. That’s right, stevo, completely misleading headline copying what most of the media is also doing. Upset or nauseated stomachs are unpleasant to say the least. So come on Morrison help us to get the burden of our backs. ?You should have gotten nothing and nobody would be bitching – give a pensioner a hand and he’ll rip your arm off. Ignoring the fact that together with the previous payments totaling $1500 this latest handout makes an additional $2000 pensioners and others have had that in a normal year they would not. I do think the dispersal of funds to all Australians could have been handled with a little more prudence. A Government that wants all pensioners to be on the Cashless Card because if they can do it to some they can also do it for everyone. By the time Mum passed away I was so sick myself I was accessed as being able to do less than 8hrs work per week. That is good news. If you pay for something that is advertised as say $9.99 with anything other than cash, you will be charged $9.99 an extra one cent its true. Although usually, we have to buy cheaper. n. Jack wants to know which of his investments may be exempt from deeming rates. Employment income reporting How much you or your partner get paid affects your payment. The Government is giving a "Coronavirus Supplement" of $550 per fortnight to some welfare recipients — but not those on the Disability Support Pension. A Government that constantly advises the pension is welfare Australians should not expect despite taking a pension himself before 70. Not for me i am one of those stupid self funded Retirees but i am glad the pensioners got the two extra payments they really need it. SINGLE aged pensioners are in for a pay boost of about $30 a week in the May budget as the Government prepares to accept the findings of a review that criticises the current payment as inadequate. The government provided two previous economic support payments of $750 earlier this year and these new measures are well short of that rate, despite little change in the economic situation from earlier in the year. Pensioners will have two reasons to smile in September with the scheduled increase to the pension coinciding with the deeming rate cuts. Totally misleading headline. What do you think of the economic support payments? Leon Della Bosca is a voracious reader who loves words. Super and retirement. Your Age Pension payment is calculated against both the asset and income tests and you are paid the lower rate of the two. NZ is big on taxing the wealthy and big companies. What a joke typical capitalist pigs handing over $2,300 PA tax cuts to the rich over $180,000 and giving a pensioner $250.00 twice off .Why the fcuck does anyone vote for these hypocritical pieces of dog shite. On 1 January of each year, we update the rates for those younger than 21 without children. Probably because they are waiting for you to provide a credible alternative party to vote for. This Government only supports Franking Credits but look out for the home because they are after that. Leon Della Bosca Unlike Australia, the NZ COVID-19 wage subsidy was paid at a two flat rates (a full-time rate of $585.80 for people working 20 hours or more per week and a part-time rate of $350.00 for people working less than 20 hours per week. I say this because its the truth. Leon Della Bosca Gm Publishing . (Bad knee’s, backs & joints.). Do I get deeming increase, or is that asset figure too low to generate sufficient income? The one “missing link” to fix the pension is to increase the asset test threshold as it is too low and punishes people with small super or other savings. Morrison is not a christian although he portrays himself as one !! The payments will be made to all Age Pension recipients as well as those who receive the Disability Support Pension, Carer Payment and Carer Allowance (if they are not in receipt of a primary income support payment). Are they enough? Not an easy gig my friend. Ha, Ha, Wondered how long it would take for this reply to turn up. The pay rise, due to take effect on September 20, will give single pensioners around $1 day extra – just enough for a coffee from 7-Eleven – and a little less for couples. bob Menzies, Today’s Liberal Party does not have the same values and policies of Robert Menzies. Previously the ONS had calculated earnings growth between May and July was 4% but it revised this down to 3.9% yesterday. OK, I get that. Pensioners will receive $350 extra a year following the latest increase in their Centrelink payment. The NZ Government also forced New Zealand’s retail banks (actually Australian Banks) to defer repayments for all residential mortgages for up to 6 months for customers financially affected by COVID-19. A drop of 0.25% in the deeming rate, which will now be ONLY 3 times the cash rate. For we ‘Pensioners’, who don’t have much, sometimes through no fault of theirs. Cos they can !! KSS and whose pocket do you piss in ? ALL the extra’s that are added to the pension stops [pension & energy supplements] but you still get the basic $860 regardless of being in the country or not! Find out if your payment will be affected. Pensioners will have two reasons to smile in September with the scheduled increase to the pension coinciding with the deeming rate cuts. 4 January 2021, 9:16 am, by I still did it, albeit if some of it was only voluntary work because that was all I could get. He has a publishing and graphic design background and loves movies and music, but then, who doesn’t? AMP research has found part-pensioners could receive a lump sum payment of up to $178 for singles and $234 for couples when the federal government’s deeming rate changes come into effect next month. Share your opinions for your chance to win great prizes! Pensioners set to get a small pay rise The pay rise, due to take effect on September 20, will give single pensioners about $1 a day extra. Looking for more ways to make your money stretch a little further? Congratulations, that's great news. If you enjoy our content, don’t keep it to yourself. The money will go to aged and disability pensioners, veterans, people on carer payments and family tax benefit recipients. So come on Morrison help us to get the burden of our backs. I worked in a man’s domain for much of my career, purchasing supply and blend scheduling for an oil company. Will pensioners get a rise in 2021? The expansion of controversial ID measures is criticised as dangerous and intrusive. Unlike ours, this was a lump sum payment for the employer to pass on to employees and covered 12 weeks per employee. Their rate will be preserved in real terms and they will also get the benefit of the new Pension Supplement until they are better off under the new rules. Won’t affect you as you are well under the limit. Some people are more proud than I am obviously and do not want to be called “pensioner”. Pay any other way and you will pay the advertised amount. by I am an Age pensioner, floss, but many of my friends are self-funded Retirees, so I am acutely aware of how difficult it is for many. ‘Age pensioners set to get a pay rise’. Bye-bye! It applied yo full and part time workers, including people working on NZ work visas and people whose temporary or student visas allow them to work in NZ. Who said that we have to say ‘we’ and not ‘us’ in these circumstances? I started work at 14 while still at school. WOW – what a huge sum that is – am sure they had to dig really deep into our Birth Certificate Trust Accounts to dish out that measly amount from accounts that we know are worth millions at the very least – TRuly this so called government should be ashamed of themselves –. Leon Della Bosca Finished school on the Friday, started work on the Monday. Would they be happier if the Jobseeker recipients were not paid the covid allowance? Send me a postcard Jacka. No other demographic has been doing any heavy lifting for the budget emergency. I have just been listening to a shareholder speaking to Davis Spears on Sky News, Alan Goffin , Chairman of Sharehioder’s Association and he is not a happy chappie.. ray from Bondi, pensioners didn’t inflate the property market. Congratulations, that's great news. So when will it rise and how much will the state pension pay? Despite this, COTA chief Ian Yates said the payments would be welcome but criticised the lack of action on rent assistance. 9 October 2020, 12:00 am, by Things do change if you stay away for more than 13 weeks or 26 weeks where your residency qualifications count: 35 years full pension, any year less deduct one thirty 5th of the total. COTA claimed giving pensioners a boost would have a two-fold effect – helping out both seniors, and the economy, with those who received the money likely to spend it on household items they needed. Are JobKeeper payments included in annual earnings? AMP research has found part-pensioners could receive a lump sum payment of up to $178 for singles and $234 for couples when the federal government’s deeming rate changes come into effect next month. KSS – if you want whingers come to this site after a handout because it will never be enough. What chance do the rest of us have. A little recognition that they have received money from the Government they would not otherwise have been given and a show of a little gratitude instead of complaining they want more, would not go amiss. Some 6.5million pensioners and people who receive benefits - including family tax benefits - will get one-off payments of $750. Discuss topics of your choosing on The Meeting Place.

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