As of 1st July 2023 the age pension eligibility in Australia will be raised yet again to 67 years, for people born after 1st January 1957.
Our social system is declining with more and more social services being privatised and becoming unaffordable to low-income families and individuals.
Why are we not on the streets demanding better living condition and a more equal distribution of wealth, while letting big corporations get away with not paying their fair share of taxes and spending billions of dollars on nuclear submarines.
Has Australia gotten too soft?
Edit: what would it take for Aussies to get up and protest for their rights?
Edit2: definition of aged pension
200k pa
is around 143k after tax
500k on 6 percent interest with principle and LMI- 50k pa
thats 93k left
lets say a family of 5 2 adults 3 kids - average living expenses for an adult is around 19k and a child is 12.5k
now you are left with 17.5k
add in 2 cars rego insurance, servicing - 5k and housing and contents insurance 3k
12.5k left
that is 12.5k - assuming no private school fees, no incidents/accidents, no pets, no holidays and no entertainment
excuse me if im not 'out of touch' with modern day expenses like you but if you think 12.5k is a 'big buffer' when almost a 3rd of you money goes to tax and gives you nothing back becuz you are means tested out of any support its a bit moronic ….