Reminder of Jan 1st pension and benefit changes you need to know

The New Year is almost here and with it is a whole new batch of changes to the pension and
Economy

The New Year is almost here and with it is a whole new batch of changes to the pension and benefits. While most affected by the changes have been contacted by the government already, here are some reminders of the changes that will be in effect as of Sunday.

Pension
More than 230,000 on a pension are facing significant changes in the new year with another 90,000 losing their pension altogether. Those not losing the pension will face and increase the asset threshold that will see pensions that were reduced by $1.50 for every $1,000 in assets changed to $3.

Perhaps you are one of the lucky one of the reportedly 170,00 that will receive a pension boost as the reshuffle of the system is undertaken.

Dental & Prescription Drugs
A massive cut of $48 million to the dental subsidies for adults means that you could be a bit more out of pocket if you visit the dentist often. You will definitely be more out of pocket when picking up prescriptions as the co-payment will rise for both concession card holders and general patients. If you hold a concession card, you will be paying 10-cents more on your prescriptions while general patients will be paying 50-cents more.

Welfare changes
There is a slew of changes to the welfare system with the main objective being to crackdown on those scamming the system. However, one of the areas that are being targeted is those who have moved into an aged care facility and are renting out their former home. Those doing this will now be forced to have the rental income factored into their pension payments.

Passports & Transport
Those that put off renewing their passport before the new year is in for a pricey change as the cost for a new passport rises by $20 come Jan 1st. Public transport and toll roads are looking to increase in the new year as well, but as each state is different, it is best to check with the regulatory body in your state.

How many of the changes will be affecting you in 2017? What changes do you think should have been made and which ones should have been left alone?

  1. Carole  

    Yep hit the poor turnbull as usual, cant wait for the next election when youll be gone!!! Get over yourself and start thinking of the poor and struggling in this country! You work for us, not you punish us! Try picking on your rich mates and pollie perks! No you wont do that will you? You are one of the worst primeministers we have ever had along with your liberal team! Im a swing voter and i wont be swinging your way!!!!

  2. Dee  

    So much for “Mediscare”. Our benefits are being whittled away week by week. This government are polished liars and the media backs their lies…..worst government in my lifetime! If they think we’ll forget in a few years, they have another thing coming! (not that I voted them in, being well aware of their past history) Byebye MT, I’m longing for your political demise!

    • Brian Wells  

      Hi Dee

      We are just over the limit, and have to report our assets monthly, because our super funds are up and down all the time. I have told my wife that I am going to divorce her, and we will apply for two single pensions. You get a lot of thanks for keeping your marriage together for 50 years eh?
      I wrote a dirty email to my local member who is liberal – no vote for him next election.
      Remember folks, that those rotten Greens supported the Government, to get this through the Senate.

  3. paul  

    I left a comment, perhaps they didn’t like what was typed. Mind you no foul language just plain wisdom.

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