Wednesday, 17 June 2015

Labor gets it wrong on pensions

In the context of pension availability, I completely agree with the Greens on supporting the Abbott gov's latest offering to save taxpayer money. So does ACOSS, and other social organisations who see unfairness in the current set up.

For example, someone like me who has worked nearly all their working life, done the hard yards, bought up a family in the face of high Sydney rents and unaffordable housing prices to buy. Have I worked less than the person who was lucky enough to be older than me that bought a house earlier for cheap? Not at all. I paid taxes, I contributed. I just wasn't lucky enough to be in the right place at the right time to afford a house.

A house that in today's money is worth a median Sydney price of $1million.

Why then should someone like me, through the chance of the universe, be penalised for that chance? The chance of time. Did I work any less hard than the person that now owns a house worth $1million by chance? Categorically no

So why now am I supposed to watch these people sit on a $1million property and winge about the interest on their liquid assets?

I'm sorry, but I have no sympathy. Agreeing with the Greens the pension changes are a step in the right direction. Indeed, not nearly far enough. Why are houses sacrosanct from retirement income?