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69% of Australian Retirees expect to leave a very significant inheritance to their children; HSBC Survey
Topic Started: 21 Sep 2014, 11:17 PM (11,738 Views)
peter fraser
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ThePauk
22 Sep 2014, 03:29 PM
No need to keep trolling and calling it 'MY' policy. The commission of audit is not me...lol
It has to be your policy. No intelligent person would own it.
Any expressed market opinion is my own and is not to be taken as financial advice
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ThePauk
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Sober
22 Sep 2014, 03:31 PM
Which part do you actually disbelieve?
All of it until I look at the actual data.
peter fraser
22 Sep 2014, 03:36 PM
It has to be your policy. No intelligent person would own it.
I call these people intelligent...
Mr Tony Shepherd AO to Chair the Commission.
Dr Peter Boxall AO
Mr Tony Cole AO
Mr Robert Fisher AM
The Hon Amanda Vanstone


And a few minds here... :-)
Edited by ThePauk, 22 Sep 2014, 03:43 PM.
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peter fraser
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ThePauk
22 Sep 2014, 03:38 PM
All of it until I look at the actual data.

I call these people intelligent...
Mr Tony Shepherd AO to Chair the Commission.
Dr Peter Boxall AO
Mr Tony Cole AO
Mr Robert Fisher AM
The Hon Amanda Vanstone
Yes I'm sure that you would.

I might not.
Any expressed market opinion is my own and is not to be taken as financial advice
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A Lurker
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ThePauk
22 Sep 2014, 02:57 PM

No-one would have to move. The enhanced PLS would ensure they remain in place.

You fail...and you troll as it is not "My' idea at all. I simply support the policy as determined.
What is a PLS? Use your words, use English.
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ThePauk
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peter fraser
22 Sep 2014, 03:42 PM
Yes I'm sure that you would.

I might not.
You certainly will not win any friends or influence if you call them stupid....so gald you said 'might'....lol
A Lurker
22 Sep 2014, 03:43 PM
What is a PLS? Use your words, use English.
Sorry, the Pension Loan Scheme run by Centrelink. Reverse morgages.

http://www.tai.org.au/content/boosting-retirement-incomes-easy-way-0

Boosting retirement incomes the easy way
The Australian government is currently willing to boost the retirement incomes of wealthy Australians by providing low cost ‘reverse mortgages’ through Centrelink. The Pension Loan Scheme (PLS) allows eligible Australians to receive payments equivalent to the full age pension paid into their bank account on a fortnightly basis, borrowed from the government and secured against the value of property owned by the recipient. These government-issued loans allow wealthy older Australians to boost their own incomes by converting equity in their home into a fortnightly flow of cash from the government.

Remarkably, to qualify for the PLS you must be too wealthy to be eligible for the full age pension. Retirees who are on the full age pension and who own their own homes are unable to boost their income via the PLS.

This paper suggests a simple modification to the PLS that would, in making it fairer, significantly help to boost the retirement incomes of a large number of current retirees. We propose that the PLS payments be made available to all citizens of pension age.

Politically, step 1 towards inc the PPOR into the asset test for pension...
Edited by ThePauk, 22 Sep 2014, 03:49 PM.
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A Lurker
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ThePauk
22 Sep 2014, 03:44 PM
You certainly will not win any friends or influence if you call them stupid....so gald you said 'might'....lol

Sorry, the Pension Loan Scheme run by Centrelink. Reverse morgages.

http://www.tai.org.au/content/boosting-retirement-incomes-easy-way-0

Boosting retirement incomes the easy way
The Australian government is currently willing to boost the retirement incomes of wealthy Australians by providing low cost ‘reverse mortgages’ through Centrelink. The Pension Loan Scheme (PLS) allows eligible Australians to receive payments equivalent to the full age pension paid into their bank account on a fortnightly basis, borrowed from the government and secured against the value of property owned by the recipient. These government-issued loans allow wealthy older Australians to boost their own incomes by converting equity in their home into a fortnightly flow of cash from the government.

Remarkably, to qualify for the PLS you must be too wealthy to be eligible for the full age pension. Retirees who are on the full age pension and who own their own homes are unable to boost their income via the PLS.

This paper suggests a simple modification to the PLS that would, in making it fairer, significantly help to boost the retirement incomes of a large number of current retirees. We propose that the PLS payments be made available to all citizens of pension age.
Terrible idea. If people are required to take one of those on or move house most people will move. They will consider themselves to be forced to move out of their homes and I'd support that interpretation.

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ThePauk
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A Lurker
22 Sep 2014, 03:51 PM
Terrible idea. If people are required to take one of those on or move house most people will move. They will consider themselves to be forced to move out of their homes and I'd support that interpretation.
And your alternative would be to tax the workers more to pay for the looming budget emergency due to the escalating ageing costs?

Stamps, cost of moving, more assets to test if moving to a smaller house, etc and a desire to remain where you are will make people stay put and take advantage of the enhanced PLS.
Edited by ThePauk, 22 Sep 2014, 03:53 PM.
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peter fraser
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A Lurker
22 Sep 2014, 03:51 PM
Terrible idea. If people are required to take one of those on or move house most people will move. They will consider themselves to be forced to move out of their homes and I'd support that interpretation.
Yes I agree - people who qualify for a part pension will sell the house and holiday until they qualify for the full pension with a little cash salted away.

Then their offspring won't get a bean.
Edited by peter fraser, 22 Sep 2014, 04:01 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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Sober
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ThePauk
22 Sep 2014, 03:38 PM
All of it until I look at the actual data.
Suit yourself. My description is accurate, and the income figure is from the ABS.

Simply put, your self-admitted intent is to harm the middle-class, and your $500K land-valuation threshold puts far more of the middle class at risk than you seem to have believed possible.
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ThePauk
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peter fraser
22 Sep 2014, 04:00 PM
Yes I agree - people who qualify for a part pension will sell the house and holiday until they qualify for the full pension with a little cash salted away.

Then their offspring won't get a bean.
So, you think they will sell up, consume and then go on a full pension....mmmmmm...
Good for the economy then and reducing house prices. Noted.

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