Scott Morrison says age of entitlement with Age pension is over 

Treasurer Scott Morrison says Australians should not expect to rely on the Age Pension
Australians can forget about relying on the age pension when they retire, according to Federal Treasurer Scott Morrison.

Echoing his predecessor Joe Hockey’s pledge about the age of entitlement being over, in a speech on Friday Mr Morrison said the age pension should no longer be seen as an entitlement but “a welfare payment for those who do not have the ability to save enough to fund their own retirement”.

“Becoming a self-funded retiree, I think, is one of the most important objectives of any Australian … it means you have choices and control over your life and your care,” Mr Morrison said.

Under the current system nearly all Australians can claim at least a part age pension payment from the government when they retire, on top of their super savings.

Mr Morrison said the federal government intends to change the definition of superannuation in law next year, to better enshrine the idea a self-funded retirement was a “worthy prize”.

He also indicated super tax breaks for the very wealthy will also be reined in, a backflip on what was promised when Tony Abbott was prime minister.

“Super was never designed to be an open-ended vehicle for wealth creation,” Mr Morrison said.

3 Comments Add yours

  1. Judith Leeson AM says:

    Stunned by the arrogance of those statements.

    Liked by 1 person

  2. elizabeth smeaton says:

    well does that mean all you greedy money loving politicians wont get your huge pensions either .gosh the country will be rich again if all your pensions were dropped to the pension that we get this country would have no debt.its disgusting if the age of entitlement is over all the hundreds of ex politicians that get huge pensions should lose theirs also .i dont know how you sleep at night give to the ritch take from the poor

    Liked by 1 person

  3. Chess says:

    Policitions need to lose their intitlements as well I can’t see why they take from the poor all the time. Come on Morrison your an idiot to think this way


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