Pensioner worried about income erosion
A Bunbury pensioner has labelled some of the changes in last week's State Budget as "laughable".
The Bunbury Senior Citizens Association member, who did not want to be named, is worried what effect cuts to State-based discounts could have on him.
"Between the two Budgets it looks as though they are taking money off us to pay for things for younger people, which we had to pay for ourselves years ago," he said.
"But we get free transport between 7pm and 6am - I'd like to know who's going to use that."
Last week's Federal and State budgets both included changes that affect seniors.
Association of Independent Retirees Bunbury president John Kalbfell said self-funded retirees were saving the Federal Government money by not drawing a pension and they should be looked after.
Mr Kalbfell said the fact there were no changes to superannuation in last week's Federal Budget was one positive - but the future was still uncertain.
"Superannuation is a war chest of money that the Government wants to use but they just keep making changes," he said.
"We can see that they need to raise money but it needs to be spread out among everyone - not just retirees."
Federal Treasurer Joe Hockey revealed the first changes last Tuesday when he confirmed he would tighten the eligibility for the Age Pension from 2017.
Two days later, WA Treasurer Mike Nahan announced he would be limiting State-based discounts to people receiving the Age Pension under changes to the State Budget.
Couples who own their home and have $823,000 in assets outside the family home receive up to $14,467 a year from the Age Pension but under the new system, to begin in January 2017, they will get nothing.
A single homeowner with $547,000 in assets other than the family home stands to lose $10,042 a year.
On top of losing that money, changes to the State Budget mean they will have to pay more for electricity, water and council rates.
