What do you think of the Age Pension changes?

The latest pension indexation amounts to less than $5 a week. With many retirees taking a significant hit to their retirement income due to the market slump as a result of the coronavirus, should the government have done more to support those on fixed incomes?

What are you planning on doing with the extra money? Will it cover any of your extra costs? Do you think that it is even keeping pace with inflation?

Let us know your thoughts on the latest pension increase in the comments section below.

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Yes PlanB, it seems the only way is to strive for independence. To be a self-funded retiree. That way, we could

drag ourselves out of the quicksand (aka the welfare safety net). Of course, that may not be an option for most

of us in the real world. But are there ways of diminishing the power of officialdom, of making them less relevant?

A quote from johnboy, a week ago, " when you are on a pension they have their knee on your neck and that's

where it will stay" , summed it up very aptly. A reminder to us all, to avoid being prone.


Early,  I have a few self-funded friends,  and they are really doing things harder these days with the bank interest the way it is -- yes they have investments -- but they are not guaranteed and things can go downhill for them -- and the little amount a person might have in the bank gets nothing -- or very near nothing -- I don't think I will still be around when we get a decent bank interest next.

I wonder how those that have borrowed a heap now will get on when the interest rate does go up --I think it will be a hell of a mess


Well stated PlanB. Recently read article about cash hoarding-- a comparison between NZ and Australia.

Apparently, the number of hundred dollar notes detected as being out of circulation in Australia is about

ten times the NZ number, with fifty dollar notes about five times.

New Zealand doesn't have a pension asset test, so therefore less reason to hoard money ( to avoid an asset test).

No wonder the government in Australia is pushing for a cashless economy. They would love to reduce many

pensions once the true asset picture becomes clear.

If they removed the asset test here, and paid pensions as they should, most of the presently hoarded money

would go back into circulation. People spend money, and when money goes around it stimulates the economy.

That results in jobs, and wealth creation. Which flows through to increased tax revenue ( including GST, and

income tax). Increased tax revenue pays for more pensions.

So, instead of punishing people with assets, and thereby punishing everybody else by cripling the economy,

they should take a long hard look at NZ. Much smaller economy, but able to fund a pension system without

an asset test.

The resultant wealth would mean more people able to retire self-funded.


Yes Early,  If they made pensions more spendable people could afford to  spend more and so support the economy more -- as it is we got a lousy $8+ dollars a fortnight but we get it in bits over a MONTH FHS,  they can't even give us the whole lot in one hit and yet these scum get a heap of money and a huge wage rise every darn year  -- and get the LOT at once

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