News

No offence intended: Truss

Warren Truss.
Warren Truss. Craig Warhurst

WIDE Bay MP and Deputy Prime Minister Warren Truss attempted to deflect outrage across Australia at reported comments on superannuants seeking the pension as well.

Mr Truss said he had made the truthful observation that many people were accessing their superannuation from age 60, spending it on luxuries by 65 and then going on the pension.

"People need to read the whole speech," he said.

"Unfortunately, the Courier-Mail took one and a half lines out of a six-page speech," he said.

It was merely "a comment on budget reality at a post-budget breakfast".

He was "explaining the situation and some of the issues we have to deal with, particularly health and aged care".

"We live longer, we spend more time at school and aspire to retire earlier, so we spend much less time in the workplace.

"The number of Australians over 84 is going to quadruple. If you are born today, there is a one in three chance of living to be 100.

"These major issues arise regarding the budget. The aged pension already represents about 10% of the entire Federal Budget - $40 billion, which in 10 years will be $72 billion.

"In spite of all the benefits of encouraging people to take their own superannuation, there are still 1100 extra people becoming eligible for the aged pension every week.

"People who have superannuation have for various reasons found it is not adequate to meet retirement expectations. People are living longer so it's not enough.

"Some people enjoy the early years of retirement and a few little luxuries and therefore they run out of money.

"There was no judgment in my speech. It's just a matter of fact.

"I'm not suggesting they're doing anything wrong.

"It's about making the aged pension sustainable.

"By 2050, there will be 2.5 people in work for everyone over 65. So that 2.5 people will have to support one person in retirement and set some aside for themselves.

"That's why we need a tighter assets test from about four years on and to increase the aged pension eligibility," he said.

Gympie Times

Topics:  pensioners, warren truss




Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

UPDATE: Protesters charged with serious assault

A protester is lead away by police outside the Gympie Regional Council office in Mary St

Three march into Gympie council and demand eviction

Want to meet Barnaby Joyce in Gympie today?

MEET THE DEPUTY PM: Nationals leader Barnaby Joyce will be in Mary St this afternoon about 3pm.

Barnaby Joyce will be in Mary St this afternoon

Coming rains signal the start of wet and warm winter

WINTER has gotten off to a warm and wet start in the Gympie region.

WINTER has gotten off to a warm and wet start in the Gympie region.

Latest deals and offers

Car Fire

Car fire corner of Gympie Connection rd and Old Goomboorian rd Gympie

Shark Hunter warns of Attack

Shark hunter Joel merchant hooks a Tiger shark.

Joel Merchant says more sharks on the way as temperature drops.

Beyonce is better than Beethoven according to your dog

Sony research shows that dogs prefer Top 40 over classical.

Research commissioned by Sony shows that dogs like Top 40 more than classical.

Own Sunshine Coast property? You’re about to make money

UP AND UP: Property owners are likely to win from rent and price increases but tenants and first home buyers might not be so happy. Photo: Brett Wortman / Sunshine Coast Daily

Good new for property owners, not so good for buyers and tenants.

Sale nears on last large block of land in Coolum

The 43.37ha property on South Coolum Rd has sold.

South Coolum Rd property to be land banked