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pensioners deeming rates
06-21-2019, 07:12 PM
Post: #1
pensioners deeming rates
story on the news tonight about deeming rates.
pensioners are expected to be earning 3.25% p.a. on savings
they are struggling to get those rates.
it affects their pension. Blush
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06-21-2019, 08:13 PM
Post: #2
RE: pensioners deeming rates
It doesn't affect my pension, I don't get one, but it affects that home care package as that's based entirely on income, not assets and I'm not getting that 3.25% so my assessed income is more than actual income by a good bit.
Bastards!

That 3+% deeming came in when actual interest rates were around 7%. Funny that everything else is 'adjusted' but nt that.
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06-22-2019, 03:05 PM
Post: #3
RE: pensioners deeming rates
Attach a safe to the floor, put half your money in.
Then your income is halved Smile SadWink

Need more coffee!Undecided
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06-22-2019, 03:49 PM
Post: #4
RE: pensioners deeming rates
suitcase.
suitcase full o cash
get dementia
die
suitcase goes to st vinnies....
some lucky lucky bastard finds it?????Blush
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06-22-2019, 08:26 PM
Post: #5
RE: pensioners deeming rates
Ever the dreamer Max. [Image: yellow-laughing-smiley-emoticon.gif]
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06-22-2019, 08:28 PM (This post was last modified: 06-22-2019 08:45 PM by maxhr54.)
Post: #6
RE: pensioners deeming rates
i swear, it happened to a friend of of a friend who read about it in the local newspaper.
here yer go .......

https://www.sunshinecoastdaily.com.au/ne...d/1868072/
but the basic thrust of what gdadd is sayin' is this
if your assets are too large to qualify for the pension
hiding surplus cash under the mattress would be an option wouldn't it?
would honest law abiding seniors do such a thing????? Blush
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06-22-2019, 10:36 PM
Post: #7
RE: pensioners deeming rates
(06-22-2019 08:28 PM)maxhr54 Wrote:  i swear, it happened to a friend of of a friend who read about it in the local newspaper.
here yer go .......

https://www.sunshinecoastdaily.com.au/ne...d/1868072/
but the basic thrust of what gdadd is sayin' is this
if your assets are too large to qualify for the pension
hiding surplus cash under the mattress would be an option wouldn't it?
would honest law abiding seniors do such a thing????? Blush

You'd have to start hiding the cash early, before pension age.

Once you're in the system, they've got you by the short and ..... understandably because they are giving away other people's money.

Even the bulk of the US press, which spent most of 2020 describing Biden as the best thing since sliced bread, seem to have realised that the Presidency is more like burnt toast.
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07-13-2019, 07:12 PM
Post: #8
RE: pensioners deeming rates
crrikey, conehead on abc says every 25 basis points (.25%) cut in the deeming rate costs the gunneremnt $200 million
little wonder it has not been changed for years.....
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07-13-2019, 08:20 PM
Post: #9
RE: pensioners deeming rates
(06-22-2019 03:49 PM)maxhr54 Wrote:  suitcase.
suitcase full o cash
get dementia
die
suitcase goes to st vinnies....
some lucky lucky bastard finds it?????Blush


Is it finders, keepers ?
.....or stealing by finding ?
I wouldn't feel guilty although there a some that would call me a thief.

No worries !... the guvmin knows all the perks 'cos they've been rorting the system for decades. Liberal and Labor !
Travel allowances, meal allowances, accomodation allowances !
They've broken all the rules so I look to them for guidance....and follow their lead !
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07-13-2019, 09:44 PM
Post: #10
RE: pensioners deeming rates
(07-13-2019 07:12 PM)maxhr54 Wrote:  crrikey, conehead on abc says every 25 basis points (.25%) cut in the deeming rate costs the gunneremnt $200 million
little wonder it has not been changed for years.....

No wonder at all! But they've been rorting retirees for that amount and more for decades.
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