LETTER: Harsh reality to pension changes
AFTER Peter Costello frittered away the mining boom on handouts to all and sundry it seemed a good idea to adjust the threshold levels of pension payments.
This measure was included in the Hockey budget of 2015 and endorsed by the Greens.
The upshot is that 91,000 pensioners will lose their pension completely while 235,000 will have theirs reduced.
READ MORE: Centrelink changes: what you need to know
50,000 extra people will receive the full pension and 120,000 will add around $30 a fortnight to their pockets.
The assets test changes will also apply to the Disability Support Pension and the carer payment.
The doubling of the taper rate means many pensioners will lose a lot more than they thought they would.
Some point out that once again the Turnbull government message has not been well articulated.
But as the new year dawns reality sinks in and a huge voter backlash is in the offing.