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11-02-2023, 11:19 AM | #31 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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I can't access the Pension system until I am 67, not quite there yet
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11-02-2023, 11:26 AM | #32 | ||
FF.Com.Au Hardcore
Join Date: Sep 2014
Location: A.C.T
Posts: 1,606
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It was 66 for me.
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2022 Honda HRV e:HEV in Premium crystal red. |
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11-02-2023, 11:56 AM | #33 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Yep Kevin '07 changed that for me. I am one the first to be impacted by the 67 access to the age pension
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11-02-2023, 11:57 AM | #34 | |||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,820
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Quote:
The way it’s presently structured and means tested gives absolutely NO incentive to have lived frugally and saved for your retirement! Another rant.. How many from other countries that immigrated here in the 60’s are receiving 2 pensions? Australia has a despicable habit of not looking after their OWN elderly!
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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11-02-2023, 11:58 AM | #35 | ||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,820
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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11-02-2023, 12:16 PM | #36 | ||
Moderator
Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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11-02-2023, 12:22 PM | #37 | ||
FF.Com.Au Hardcore
Join Date: Jul 2012
Posts: 3,878
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The “normal”pension I reckon is plenty for a couple to live fairly easily on.Think anyone who is on the Govt gravy train gets a fair bit more courtesy of the taxpayer
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11-02-2023, 12:23 PM | #38 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Yep, if you were born from January 1 1957 it is 67 before you can access the Age Pension
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11-02-2023, 12:29 PM | #39 | ||
FF.Com.Au Hardcore
Join Date: Jul 2012
Posts: 3,878
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11-02-2023, 12:35 PM | #40 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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We have a couple of friends (couples) who both have no debt (own everything) and they say around $25 to $45k per year is what you need (don't listen to the Super funds), accessing the Age (part) Pension is a big help. One couple just got back from a 4 week trip to Europe
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11-02-2023, 12:35 PM | #41 | |||
FF.Com.Au Hardcore
Join Date: Jul 2012
Posts: 3,878
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Quote:
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11-02-2023, 12:36 PM | #42 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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I did know there was a sliding scale, but I was born a little after January 1 1957
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11-02-2023, 12:36 PM | #43 | |||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,659
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Quote:
I guess I've been lucky for the last 30 years in my present job, I always have 1 or 2 days attached to the weekends where I don't work at all. Guess you can say I've been semi-retired in a sense with full time pay, now you know why I'm not in a hurry to retire. You actually hit it on the head by having a meaningful purpose, I easily get bored with myself even though I have numerous hobbies, I guess I like the challenges from my job and the great rapport of co-workers I associate with. As stated, decisions ... decisions, this will be my 51st year of working and I can officially retire. Decisions.....decisions as to what to do. |
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11-02-2023, 12:37 PM | #44 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Quote:
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11-02-2023, 12:39 PM | #45 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Quote:
I started my 51st year last November, I got 'asked' to leave school in November 1972
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11-02-2023, 12:46 PM | #46 | ||
FF.Com.Au Hardcore
Join Date: Jul 2012
Posts: 3,878
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NO.but I have known a few who at the age of 60 or more are yet to start their working life.I still actively try to find small pocket money jobs.Surprising how many 1/2 day jobs that are out there
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11-02-2023, 12:51 PM | #47 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Quote:
I post on an American forum, very right wing, and they couldn't give a shyte about the under-privileged, stuff 'em they reckon "I did it, they should too" is the general response I would rather live here where we are more generous to those who can't help themselves, unfortunately there are a few dodgy rats in that, but . . . . . (robberies)
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11-02-2023, 01:02 PM | #48 | ||
FF.Com.Au Hardcore
Join Date: Apr 2012
Location: Taromeo
Posts: 10,584
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I'm 73 and still can't get the pension!
The super complicated rules suck!!! |
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11-02-2023, 01:05 PM | #49 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Too much assets and money in the bank LG
Not even part?
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I reserve the right to arm bears
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11-02-2023, 01:06 PM | #50 | ||
Sick Puppy
Join Date: Jul 2006
Posts: 1,963
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I sit back and look at the angry , miserable person my old man has turned into since he has retired and honestly ill be happy to drop dead with my head inside a generator at work one day.
No plans on me retiring until I get kicked out the door. |
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11-02-2023, 01:08 PM | #51 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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You get old and tired, you get grumpy when your body doesn't do what you head wants it to
years of physical abuse from all the labour intensive jobs, plus a few reckless hobbies (like motorbike riding in the bush) will slow you down in older age Both my shoulders have had surgery to make them not hurt so much, I am 50% deaf in one ear and 25% in the other (only in certain ranges), knees are dodgy (3 surgeries on them) and I can put it all down to driving trucks with a little bit of bike riding in the bush Shoulders are shot from driving milk tankers picking up milk from farms and swinging the heavy pick up hoses onto the sides of tankers, maybe a bit of unloading 67kg (yes 150lb) bags of flour by hand from the back of pantech semi's didn't help. The deafness is from listening to diesel and petrol driven milk pumps confined in a stainless steel compartment on the back of milk tankers (all in the days before workplace OHS was invented) and driving with the truck window down as no air con. Knees are knackered from jumping out of trucks, back then not much was provided for easy access and egress to and from trucks Don't be too hard on your dear old dad
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I reserve the right to arm bears
Last edited by Trevor 57; 11-02-2023 at 01:16 PM. |
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11-02-2023, 01:15 PM | #52 | |||
Moderator
Join Date: Jan 2014
Location: Melbourne
Posts: 7,940
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Quote:
If you don't achieve a sufficient self-funded nest egg and have to rely solely on the pension, you will be able to live comfortably at least. It's those people who are on the pension who are still renting or paying off their mortgage, debts, cars, credit cards, etc... That find it difficult on the government pension. The current couple (living together) full pension is $40,238 p.a. indexed. If you can't live on that (being debt free) and have no kids to support, then there is something wrong IMO. |
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11-02-2023, 01:22 PM | #53 | |||
Kicking back
Join Date: Dec 2013
Location: Western sydney
Posts: 8,675
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Quote:
My dad, he was in a financial position to retire at 50. So 2004. Got his golf handicap down to 8, divorced my mum, got bored of golf and had nothing else to do. He passed in 2019 aged 65 due to medical issues attributed to poor lifestyle choices. To be fair what is a better way to start a booring day then beers for breakfast? |
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11-02-2023, 01:26 PM | #54 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,608
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I semi retired 2021. We came over from Nz so have under average super balance.
I get a govco pension from Nz and Aus about half half. But the amount I get as a total is controlled by Centrelink. Wife works and if she gets back pay holiday pay etc my pension might get zeroed. I never know what to expect as Centrelink told Nz to cut me back by 80 per cent two days before Xmas. Then on the 3 Jan Centrelink dropped 962$ in my ac with the notion Nz arrears. Go figure. Haven’t touched it assume it’s a balls up. Then three weeks into January Nz put their bit up to what it was previously. It’s about $210 a week at the moment total from the two govts. I do a bit of gig delivery work net about $150 a week. And pull $220 fortnight as a pension from my super fund. I also do two days a week volunteer driving for free note I can take breaks whenever I like from this. My wife gets super ****ed when my pensions get cut or zero Being kiwis we know in Nz you get full Pension at 65 no income test no asset test. I just live with the Aus system. By the way $419000 of assets out side your family home is the number that Clink start reducing your pension. |
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11-02-2023, 01:55 PM | #55 | |||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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Quote:
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11-02-2023, 02:31 PM | #56 | ||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,820
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From Mygov website..
“On 1 July 2021, Age Pension age increased to 66 years and 6 months for people born from 1 July 1955 to 31 December 1956, inclusive. If your birthdate is on or after 1 January 1957, you’ll have to wait until you turn 67. This will be the Age Pension age from 1 July 2023.” If they continue moving the goalposts, you’ll soon need to be 80 to be eligible!
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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11-02-2023, 02:43 PM | #57 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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and there it is, thanks Kevin '07 lol
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I reserve the right to arm bears
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11-02-2023, 03:00 PM | #58 | ||
Bolt Nerd
Join Date: Jan 2005
Location: Ojochal, Costa Rica (Pura Vida!)
Posts: 14,820
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Another little titbit that I discovered the hard way is…
To apply, you MUST be IN Australia.. AND once approved, you need to fully reside IN Australia for the next 2 years.. Kiwis, don’t worry.. You guys are next, not only for the above, but also the assets and income test..
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Current vehicles.. Yamaha Rhino UTV, SWB 4L TJ Jeep, and boring Lhd RAV4 Bionic BF F6... UPDATE: Replaced by Shiro White 370z 7A Roadster. SOLD Workhack: FG Silhouette XR50 Turbo ute (11.63@127.44mph) SOLD 2 wheels.. 2015 103ci HD Wideglide.. SOLD SOLD THE LOT, Voted with our feet and relocated to COSTA RICA for some Pura Vida! (Ex Blood Orange #023 FPV Pursuit owner : ) |
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11-02-2023, 03:15 PM | #59 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,752
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the money has to come from somewhere, there is no money tree and I think a fair a reasonable means test is OK, people who don't need it shouldn't get it
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11-02-2023, 03:38 PM | #60 | ||
FF.Com.Au Hardcore
Join Date: Dec 2009
Posts: 3,608
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That’s a fair proposition.
It’s a bit unfair that the Uber rich in Nz get it no questions asked especially if it’s funded by a national deficit ie borrowed money. I do think the Aus system could be simplified a bit - it’s wierd to know that beaureaucrats trawl over our financials. |
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