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Post by Banker on Mar 1, 2013 18:44:41 GMT 7
PENSIONERS will receive an extra $35 a fortnight from later this month when payments are adjusted for inflation. The Families Minister, Jenny Macklin, will announce on Saturday that from March 20 single pensioners will receive an extra $35.80 a fortnight, while couples will receive a combined increase of $54 a fortnight. The increase applies to people receiving the age pension, disability pension and carer payment as well as veterans' income support recipients. It will reach about 1.2 million people in NSW and 900,000 people in Victoria. Pensions are indexed twice a year, in March and September, according to the higher of the increase in the new pensioner and beneficiary living cost index and the increase in the consumer price index. Ms Macklin said the latest increase was driven by wages growth because the pension was also linked to male total average weekly earnings. The latest adjustment takes the maximum pension rate to $808.40 a fortnight for singles and $1218.80 a fortnight for couples. Also from March 20, pensioners will start receiving carbon tax compensation each fortnight. Singles will receive $13.50 a fortnight while couples will receive $20.40. Ms Macklin said the government was delivering $1 billion a year to pensioners across the country through the carbon tax compensation package. ''In contrast, Tony Abbott and the Liberals have promised to claw back the $1 billion a year support Labor is delivering pensioners,'' she said. ''This means every single pensioner in Australia would lose more than $350 a year and every pensioner couple would lose more than $530 a year under an Abbott government.'' A spokesman for Mr Abbott said the Coalition would fund a tax cut without a carbon tax. Read more: www.brisbanetimes.com.au/national/pensioners-get-carbon-tax-return-this-month-20130301-2fbm9.html#ixzz2MHtd7Cbi |
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Post by peter on Mar 2, 2013 10:56:04 GMT 7
Pension increase is indexed to the highest rate of increase in one of three indexes; a. the CPI, b. The Pensioner and Beneficiary Living Cost c. Male Average Weekly Earnings.
I think it was Howard who finally brought in the link to MAWE, because that was one way to ensure that Pensions were linked to rising living standards which CPI did not link into. The 2009 Review continued that on a base which the Review increased.
I hope that this is not taken from a release to be made from the Minister's Office, because if it is it is a very sloppy effort because it does not make clear that the increase comes about because of MAWE, it just uses the term "linked to" and links are not the same as indexed to.
Its quite a good outcome and shows that the indexation to MAWE does not leave pensions behind. Those payments indexed to CPI like New Start, are left behind. That is where the problem accumulates over the years where the increase is not really reflective of rising costs.
In all payments, the rent allowance is left way behind, because not only is the base too low............must go back ten or tweny years................but its linked to CPI so it falls furthur behind as accommodation costs increase greater than CPI.
As I read it, its an increase of $35.80 for the MAWE and $13.50 for the carbon tax allowance for a total of $$49.30 per fortnight.
Looks like they will have to increase the deficit to pay for this but that is not my problem and it would not be theirs if they learned to budget the national expenditure according to priorities.
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Post by peter on Mar 2, 2013 12:49:52 GMT 7
In the above post there is in underline and inked in blue ...............before MAWE the words..................."the link".
I did not put that there and its a link to some marketing outfit selling something. Avoid.
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Post by Banjo on Mar 2, 2013 13:04:02 GMT 7
Just out of curiosity, what are the priorities of the right?
Encourage business with more tax cuts and hope for trickle down?
And for that query read BIG business, small business gets SFA from either party.
No link I can see Peter, may have been a popup of some sort.
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jack
Full Member
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Post by jack on Mar 2, 2013 14:26:54 GMT 7
Sounds Good! Thanks To Labor Goverment.
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Deleted
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Post by Deleted on Mar 2, 2013 16:00:32 GMT 7
Will the Liberal Party.
Repeal this and take it off us.
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Post by takeo19 on Mar 2, 2013 16:18:09 GMT 7
Probley they wont an end to entitilments so I wouldnt put it past them although its harder to undo things..
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Post by Banjo on Mar 2, 2013 16:37:24 GMT 7
I think the supplement is under threat, it's a lot easier to remove than our normal rises and actually cutting the rate would cause an insurrection.
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Post by baranghope on Mar 3, 2013 3:25:06 GMT 7
I think the LNP would, IF ELECTED, wipe out all bonuses and indexing within 6 months of being in office. There will be a miserly witch hunt for anything "altruistic" or socialistic that will go on for up to a year. Gina Reinhardt and the other Oz fatty miners will be applauding. Within 12 months they will attack the OAP, bigtime. No one will be spared. With a man with a sub 100 IQ, Hockey, wielding this axe, a man who wants zero welfare under his touted "Asian" model, well, it should be a no-brainer what is going to happen . . .
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Post by latindancer on Mar 3, 2013 7:23:22 GMT 7
That is a frightening scenario. But then Hockey is in fact a person with alarming characteristics.
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Post by Banjo on Mar 3, 2013 9:48:55 GMT 7
Gillard/Swan's welfare cuts have gone more than deep enough, Abbott/Hocking's will be worse.
Watch the election campaign... tax cuts will be promised, middle class welfare will be protected...
So where's the "spending cuts" going to come from.
One of the great spin achievements of the corporate media has been to convince Australians that a budget deficit leads to national bankruptcy.
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Post by newtodsp on Mar 6, 2013 13:18:49 GMT 7
Did anyone see the news today? A new mega bank bailout fund worth 320billion of taxpayer dollars. Again, a nice comfy safety net by taxpayers for corporations, while our real safety net is being ripped apart. Its apparently the most generous safety net for banks in the world!
Re: pension increases on 20 March, the news article I found mentioned a 35.80 increase per fortnight for the single pension in addition to 13 per fortnight for the clean energy compensation. However, my calculations only lead to a total of 35.80 increase, with the carbon compensation included in this. Will be interesting to see what the true increase is..if anyone has a different calculation would like to hear about it!
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Post by takeo19 on Mar 6, 2013 13:27:52 GMT 7
That's a good point Banjo, whatever happens the Banksters win.
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Post by peter on Mar 6, 2013 15:08:00 GMT 7
New Rates; Old New
Base 712.00 733.70
Supplement 60.60 61.20
Energy Supplement ------ 13.50
772.60 808.40
Partnered 536.70 553.10
Supplement 45.70 46.10
Energy Supplement ------ 10.20
582.40 609.40
Rent Allowance goes from maximum of $121.00 to $123.00 single on maximum rent of $273.20
All the above per fortnight.
And the way it was spun in the press release was that the pension would increase bu $35.80 which is only a half truth cause whilst the fortnightly pension does increase by that amount, it is not all an increase since the $13.50 carbon tax offset was already in the equation and therefor was not an increase but simply an inclusion.
Best to call political half truths for what they are, that is lies and they do it all the time now as routine, and as if the audience is children but kids after a while wake up.
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Post by Banjo on Mar 6, 2013 15:10:22 GMT 7
Yes, we'll get a lot of that this year.
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