Pension plan

The age pension was initially devised to thank you for the tax you paid over the years, now retirees are paying for it through the nose. Firstly all your funds in the bank are classed as deemed income, then all your interest earnt is taxed as income, then added to your super. The government doesn’t need funds to pay your age pension as you’re now doing a good job of looking after yourself with 50 cents in the dollar of the above.

Wayne Strauss Kingston