A new report by Help Age International has shown the danger of Tony Abbott’s attempted cuts to the indexation of the Age Pension.
Help Age International’s 2015 GlobalAge Watch Index puts Australia's old age poverty rate at 33 per cent.
The finding means Australia has slipped four places to 17th spot on the index.
The number of Australian pensioners living in poverty would have increased if Tony Abbott had got away with his plan and indexed the pension to CPI only.
This change would have seen an $80 a week cut to the pension over the next ten years.
If Mr Abbott had got his way the pension would have fallen from 28 per cent of average weekly earnings today to just 16 per cent by 2055.
Mr Abbott argued for more than a year it was “fair and reasonable” to cut pension indexation and push Australian pensioners into poverty and hardship.
Tony Abbott and every one of his Liberal/National colleagues voted to cut the indexation rate of the pension.
Mr Abbott’s cuts to pension indexation are still in the Parliament. He should remove his cuts to indexation of the pension immediately.
WEDNESDAY, 9 SEPTEMBER 2015