Australian Aged Pension

[CygnusX1]

Actually, I think that Gen Z or whatever they’re called wouldn’t be very happy about someone with my lifestyle receiving even a small part pension, and I can’t say I blame them!

[Lacessit]

4 minutes ago, CygnusX1 said:

Actually, I think that Gen Z or whatever they’re called wouldn’t be very happy about someone with my lifestyle receiving even a small part pension, and I can’t say I blame them!

I'd say Gen Z will be expecting to be getting the same pension as Baby Boomers are currently receiving, and may well be disappointed.

[KhunHeineken]

22 minutes ago, CygnusX1 said:

Actually, I think that Gen Z or whatever they’re called wouldn’t be very happy about someone with my lifestyle receiving even a small part pension, and I can’t say I blame them!

Actually, I think Gen Z are waiting for you to die, so they can get their inheritance. 

 

It makes for interesting conversation when expats hook up with a Thai girl half their age, and he starts shifting his assets to the village.

 

The kids are not to happy seeing their inheritance moving offshore. 

[georgegeorgia]

I just had a look at all the posters in this thread many haven't logged on for years?

[gearbox]

On 1/3/2025 at 9:17 PM, CygnusX1 said:

Actually, I think that Gen Z or whatever they’re called wouldn’t be very happy about someone with my lifestyle receiving even a small part pension, and I can’t say I blame them!

In most of the countries of the world the pension is not based on lifestyle, it is based on age, number of years worked, and the size of pension contributions. Sooner or later the Aussie OAP will be retrofitted in this way.

[Olmate]

1 hour ago, gearbox said:

In most of the countries of the world the pension is not based on lifestyle, it is based on age, number of years worked, and the size of pension contributions. Sooner or later the Aussie OAP will be retrofitted in this way.

Think thats Superannuation, Oz OAP is an entitlement,once you reach old age, if eligible, then pmeans tested. Retro fit and you lose government! 

[gearbox]

1 minute ago, Olmate said:

Think thats Superannuation, Oz OAP is an entitlement,once you reach old age, if eligible, then pmeans tested. Retro fit and you lose government! 

It is not entitlement, it is welfare. The motive to go away from the current system usually 99% is lack of money.

[georgegeorgia]

39 minutes ago, Olmate said:

Think thats Superannuation, Oz OAP is an entitlement,once you reach old age, if eligible, then pmeans tested. Retro fit and you lose government! 

It's certainly not an entitlement !

Unlike the UK 

 

It's supposed to be for those who don't have retirement funds not rich retirees cashed up thus when applying for it you are subjected to the assets test and not everyone is entitled to it because of big Superannuation 

 

You Olmate are entitled to it though,  because you were smart enough never to work a day in your life 

[gearbox]

37 minutes ago, georgegeorgia said:

It's certainly not an entitlement !

Unlike the UK 

 

It's supposed to be for those who don't have retirement funds not rich retirees cashed up thus when applying for it you are subjected to the assets test and not everyone is entitled to it because of big Superannuation 

 

You Olmate are entitled to it though,  because you were smart enough never to work a day in your life 

I think the government should abolish it for any new retirees from 2033 onwards, the compulsory superannuation should have been in place for 40 years by then.

[RJRS1301]

1 hour ago, gearbox said:

I think the government should abolish it for any new retirees from 2033 onwards, the compulsory superannuation should have been in place for 40 years by then.

The problem is many younger folk and older women retire with little or no superannuation due to casualised workforce .

Women retire considerably less than males, factor in divorce, earth death pf spouse.

Superannuation is seen by many as the inheritance for offspring, not being used for ageing.

 

[Lacessit]

3 minutes ago, RJRS1301 said:

The problem is many younger folk and older women retire with little or no superannuation due to casualised workforce .

Women retire considerably less than males, factor in divorce, earth death pf spouse.

Superannuation is seen by many as the inheritance for offspring, not being used for ageing.

 

The ASFA estimates only 30% of Australians will have enough superannuation to retire.

 

It's almost certain casualisation is a contributing factor.

[Olmate]

3 hours ago, gearbox said:

It is not entitlement, it is welfare. The motive to go away from the current system usually 99% is lack of money.

Lack of money? Who? Govt wont abolosish OAP, they pushed the Super thing, now thats ok to claimearly or for a bad tooth ache, or even a  *house! Elected govt., get it?? 

[Olmate]

2 hours ago, georgegeorgia said:

It's certainly not an entitlement !

Unlike the UK 

 

It's supposed to be for those who don't have retirement funds not rich retirees cashed up thus when applying for it you are subjected to the assets test and not everyone is entitled to it because of big Superannuation 

 

You Olmate are entitled to it though,  because you were smart enough never to work a day in your life 

Wake up G, it is and your ready to qualify soon. No more.dream  machine! 

[Olmate]

2 hours ago, georgegeorgia said:

It's certainly not an entitlement !

 

You Olmate are entitled to it though,  because you were smart enough never to work a day in your life 

Worked from 16 yrs old to 75 yrs young, grand dad to 20+kids George, hows your record looking? lol

[gearbox]

14 minutes ago, Olmate said:

Lack of money? Who? Govt wont abolosish OAP, they pushed the Super thing, now thats ok to claimearly or for a bad tooth ache, or even a  *house! Elected govt., get it?? 

Moments will come when the government is short of money and may axe many things, including OAP. Money is earned first before being spent. Interesting times ahead.

[LosLobo]

10 hours ago, georgegeorgia said:

I just had a look at all the posters in this thread many haven't logged on for years?

 

Maybe because yourself and KH have driven them away - this forum used to be informative but now it's just a lot of bickering.

There are a lot of current topics that need addressing but it's difficult to get any serious discussion.

An example: I stumbled on this little gem this morning -- this could impact all the Aged Pension Expats here.

I got quizzed by my bank this morning.

The declaration goes into Asian TIN's.

"You will need to declare your tax residency when opening a new account or when requested by the bank".
 

Collecting customer tax information - CommBank

 

[Olmate]

2 hours ago, LosLobo said:

 

Maybe because yourself and KH have driven them away - this forum used to be informative but now it's just a lot of bickering.

There are a lot of current topics that need addressing but it's difficult to get any serious discussion.

An example: I stumbled on this little gem this morning -- this could impact all the Aged Pension Expats here.

I got quizzed by my bank this morning.

The declaration goes into Asian TIN's.

"You will need to declare your tax residency when opening a new account or when requested by the bank".
 

Collecting customer tax information - CommBank

 

Which bank? Bad choice bank that! 

[Artisi]

3 hours ago, Olmate said:

Wake up G, it is and your ready to qualify soon. No more.dream  machine! 

Aust pension is not an entitlement, it's assets based, too many assets no OAP. 

[Lacessit]

8 minutes ago, Artisi said:

Aust pension is not an entitlement, it's assets based, too many assets no OAP. 

The pension is an entitlement, not a right. There are limitations placed on it by how much other income one earns, or the assets they hold, whichever reduces the pension the most.

[Artisi]

1 hour ago, Lacessit said:

The pension is an entitlement, not a right. There are limitations placed on it by how much other income one earns, or the assets they hold, whichever reduces the pension the most.

You are correct, badly worded on my part. 

[Olmate]

1 hour ago, Artisi said:

Aust pension is not an entitlement, it's assets based, too many assets no OAP. 

 

7 hours ago, Olmate said:

Think thats Superannuation, Oz OAP is an entitlement,once you reach old age, if eligible, then pmeans tested. Retro fit and you lose government! 

Artisi, wrong again!! It.is as pointed out by 'Lacessit',  entitled, eligible and means tested.Dont let your old habit cloud your posts😂

[G_Money]

15 hours ago, georgegeorgia said:

I just had a look at all the posters in this thread many haven't logged on for years?

So.  Have they committed some crime?

[scorecard]

5 hours ago, LosLobo said:

 

Maybe because yourself and KH have driven them away - this forum used to be informative but now it's just a lot of bickering.

There are a lot of current topics that need addressing but it's difficult to get any serious discussion.

An example: I stumbled on this little gem this morning -- this could impact all the Aged Pension Expats here.

I got quizzed by my bank this morning.

The declaration goes into Asian TIN's.

"You will need to declare your tax residency when opening a new account or when requested by the bank".
 

Collecting customer tax information - CommBank

 

 

Macquarie Bank has been asking or a lot of detail about my 'status' with the ATO and my tax status in Thailand. I queried why they need info re Thailand, they withdrew the request.  

[scorecard]

2 minutes ago, G_Money said:

So.  Have they committed some crime?

Advanced Member

 5.5k

Gender:Male

Posted 2 minutes ago

  15 hours ago, georgegeorgia said:

I just had a look at all the posters in this thread many haven't logged on for years?

So.  Have they committed some crime?

 

How do you know they haven't logged on for years?

[G_Money]

2 hours ago, scorecard said:

Advanced Member

 5.5k

Gender:Male

Posted 2 minutes ago

  15 hours ago, georgegeorgia said:

I just had a look at all the posters in this thread many haven't logged on for years?

So.  Have they committed some crime?

 

How do you know they haven't logged on for years?

The lights are on but no one’s home.

[scorecard]

8 minutes ago, G_Money said:

The lights are on but no one’s home.

?

[Lacessit]

12 minutes ago, G_Money said:

The lights are on but no one’s home.

IIRC you are not Australian. If you want to troll, do it somewhere else. This thread is for Australians only.

[scorecard]

1 hour ago, Lacessit said:

IIRC you are not Australian. If you want to troll, do it somewhere else. This thread is for Australians only.

 

IIRC?  Just remembered, if I remember correctly ??

[Lacessit]

40 minutes ago, scorecard said:

 

IIRC?  Just remembered, if I remember correctly ??

If I Recall Correctly.

[georgegeorgia]

2 hours ago, Lacessit said:

If I Recall Correctly.

AWOL