The Advertiser

Pensioners’ pockets hit

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TENS of thousands of retirees will lose their pensions after legislatio­n to tighten asset tests passed parliament last night.

The changes reduce pension payments for 235,756 seniors, cut 91,378 people from the part-pension and give 171,658 retirees about $15 a week extra from January 2017.

The measure also reduced the asset threshold to $823,000 outside the family home.

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