I came across this story on News.com just a moment ago.
It will open up a can of worms but nevertheless should lead to an interesting discussion:
Abridged version:
TIDAL WAVE OF RETIREES COULD BREAK THE BANK.
Australia is on the edge of a demographic tsunami with 5.3 million baby boomer elligable for the pension next year.
Not only will baby boomer demand more from the tax base, they will also be coming out of the workforce and will stop paying tax.
Apart from a surge in demand for age pensions, ageing baby boomers would also increase pressure on already stretched health budgets.
They are the most obese generation we have ever had.
This is an intriguing situation said Prof. Bell I'd rank it alongside the Industrial Revolution.
In response to some of these emerging challenges the Federal Government will push out the pension eligability age to 67 by 2023.
This is a very abridged version of the complete article and if you wish to read the whole thing just go to news.com
I thought one of the things we paid our taxes for while we worked was to provide some sort of assitance as we aged as well as doing our bit for the economy of the country.
My views only of course, but I felt a little "miffed" when I read the article. To me it would seem that we are going to be blamed for the shortfall in the economic coffers because we are drawing a pension. In a nutshell and as I said just MY view.
Elaine
dave06 said
02:33 PM Dec 28, 2009
yep thats right, we gotta work longer now until we get so tired we can just be chucked in a hole instead of expecting our tax dollars to be returned to us
who's going to support us, I look around me and all I see is dole bludgers not contributing anything and yet there is plenty of work around, bloody mongrels
DAVE!!!!>...........................
WHATTTTT!!!!!!!!!!!..................
go to your quiet place, Dave..............
oh all right!...................... thieving dole bludging mongrels, should all be blown up, whole worlds plotting against me as usual!!!
rosey said
02:53 PM Dec 28, 2009
I question those figures...5.3 million baby boomers eligible for the pension next year means 5.3 million babies were born in 1945. Even counting the females (such as me) who were born in 1946 and will be eligible for a pension (if I stop working) next year, it seems like a huge number.
Ahhh now I get it...the baby-boomers and those older. Oh well.
What its gonna mean for us is less care/places in nursing homes etc as we get older than the short supply available now. The only strategy I can think of is to try really hard to stay healthy. It means being a party-pooper sometimes but I'm terrified of relying on "the system" in the future. Dont think there'll be one!
JRH said
03:20 PM Dec 28, 2009
So sorry Rosie but the health system has already gone to pot.
They say the most pure drink in the world is Scotch and I intend to prove them right by drinking as much of it as I possibly can, that way I am hoping to live a long, long time even if I end up in a pickled state.
Sunshine said
03:24 PM Dec 28, 2009
I received this email a while back.....
Subject: Letter to the Treasurer .
Dear Mr.Swan,
Please find below my suggestion for fixing Australia 's economy.
Instead of giving billions of dollars to banks that will squander the Money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them $1 million each severance for early retirement with the Following stipulations:
1)They MUST retire. Ten million job openings - Unemployment fixed
2) They MUST buy a new Australian car. Ten million cars ordered - Car Industry fixed
3) They MUST either buy a house or pay off! Their mortgage - Housing Crisis fixed
4) They MUST send their kids to school/TAFE/university - Crime rate fixed
5) They MUST buy $100 WORTH of alcohol/tobacco a week .....and there's your Money back in duty/tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back Their falsely claimed expenses and second home allowances
If you think this would work, please forward to everyone you know. If Not, please disregard.
Yours sincerely,
The Whole Country
rosey said
03:55 PM Dec 28, 2009
Aha! Another candidate for Korsakoffs syndrome JRH?! Dont worry, you wont feel a thing!
Ma said
03:59 PM Dec 28, 2009
JRH wrote:
So sorry Rosie but the health system has already gone to pot.
They say the most pure drink in the world is Scotch and I intend to prove them right by drinking as much of it as I possibly can, that way I am hoping to live a long, long time even if I end up in a pickled state.
At least you won't get worms JRH. I mean if you put a worm in a glass of water he swims around and has a bath. Put a worm in a glass of scotch and he DIES!
An old Doctor friend told me he NEVER drinks water, wonder why?
By the way Rosie, please explain Korsakoffs syndrome...........maybe I am having an Alkaseltzer attack but can't for the life of me remember what it is.
Delta18 said
04:06 PM Dec 28, 2009
Ma wrote:
By the way Rosie, please explain Korsakoffs syndrome...........maybe I am having an Alkaseltzer attack but can't for the life of me remember what it is.
Ha ha, I think that proves you have it Ma, do a google on it.
Cheers Neil
JRH said
04:08 PM Dec 28, 2009
rosey wrote:
Aha! Another candidate for Korsakoffs syndrome JRH?! Dont worry, you wont feel a thing!
Well Rosie if I did feel any pain I wouldn't remember it as one of the symptoms of Korsakoffs is Retrograde Amnesia, (severe loss of memory) damn I think I feel it coming on now, better have another scotch. Hic. Hic.
rosey said
04:13 PM Dec 28, 2009
Its a type of dementia caused by brain cells being destroyed by alcohol. It doesnt go away when you stop drinking. I've cared for a few sufferes and wouldnt like to swap places with their families. The saddest thing is that of all the causes of dementia, this one is preventable.
Sorry if I sound like one of those Temperance women, and yes I have a glass of wine or two myself.
JRH said
04:27 PM Dec 28, 2009
rosey wrote:
Its a type of dementia caused by brain cells being destroyed by alcohol. It doesnt go away when you stop drinking. I've cared for a few sufferes and wouldnt like to swap places with their families. The saddest thing is that of all the causes of dementia, this one is preventable.
Sorry if I sound like one of those Temperance women, and yes I have a glass of wine or two myself.
It is such a shame that so many preventable diseases and such are allowed go unchecked, and to think that in the case of Korsakoffs we do it to ourselves without thinking what we may put our loved ones through. I wonder how many people actually know what Korsakoffs is, and if they did know would it make a difference to the way they drink?
Our governments rave on about smoking but seem to be very laid back regarding the drink problem in Australia today.
Whilst I rabbit on about drinking, in reality I actually drink very little, I hate not being in full control of my faculties and as a youngster it was drummed into me that once one went down that track there was no return. Having said that I still enjoy a good scotch now and again.
jimricho said
04:33 PM Dec 28, 2009
I think the 5.3 million refers to the total births between 1945 and 1960, the years that (arbitrarily) make up the Baby Boom period (wonder who decided that???). In keeping with the rule of never letting the facts get in the way of good story this is not made very clear.
The story also has a video which says in the caption (quote) "Three and a half million Baby Boomers will become eligible for the pension next week" (end quote). That's 3.5 million when the population of Australia was 7 million! AND... all in the first week of January 1945!!!!
rosey said
04:40 PM Dec 28, 2009
Going back to Ma's original thoughts, that if we pay our taxes and be good citizens then is it too much to expect that our Government will look after us in our old age? Maybe it is, but I'd rather be in a position to look after myself anyway. Hate to not be independant.
Of course if we lived in other countries that dont have any age-pensions, we would have to have lotsa children and then make them feel they owe us so they'll look after us when we're old.
Australia with all its warts will do me.
JRH said
04:48 PM Dec 28, 2009
Best country on earth Rosie, and yes I do believe after paying all those taxes the Government should look after the elderly.
In my case I had an accident in 1986 which put me out of work permanently, I lost all my super, all eggs in one basket, so have to rely on the pension but we manage to do OK.
rosey said
05:15 PM Dec 28, 2009
You've made me realise how lucky I am JRH. Sorry if I offended.
JRH said
05:21 PM Dec 28, 2009
rosey wrote:
You've made me realise how lucky I am JRH. Sorry if I offended.
Rosie you did not in any way offend me please do not think you have to apologise, you have absolutely nothing to aplogise for.
I feel I am extremely lucky to be living in the best country on God's earth. Where else in the world could I receive a pension and be able to go caravanning?
dave06 said
05:22 PM Dec 28, 2009
mr Hyde if you can achieve this then you are indeed a top chap! I doffs me lid to you sir!
JRH said
05:40 PM Dec 28, 2009
dave06 wrote:
mr Hyde if you can achieve this then you are indeed a top chap! I doffs me lid to you sir!
Doff away old son, we are off to Albany in the South West of WA in Feb and then April we head North heading for God only knows where. All done on the pension as we do not have any other form of income, so we just take things quietly and stop when we run low on funds until Rudd the Dudd replenishes our coffers.
dave06 said
06:04 PM Dec 28, 2009
good on ya John! should be more like you!
JRH said
06:20 PM Dec 28, 2009
dave06 wrote:
good on ya John! should be more like you!
When they made me they broke the mould thank God.
goinsoon said
06:21 PM Dec 28, 2009
Get your facts right, if that is right that would be twenty five percent of Australias population in one year IM - POSSIBLE
dave06 said
07:36 PM Dec 28, 2009
well if thats not right we will fix it for you,
would you believe 12.5% over two years, no!!!! well how about 6.25% over four years????? yep thought so, much better! well thats what it is then!
cant have incorrect facts floodin the forum, hell they'd get in the way of all the drivel we spread!
Smokeydk said
07:57 PM Dec 28, 2009
Drivel.........theres no drivel in here........BEAM ME UP SCOTTY!!!....Me Star-Gate arent working......I might drown!!!
Dave
goinsoon said
08:18 PM Dec 28, 2009
Quick get me a baby boomers alfoil beanie this thread hurts
Ma said
08:39 PM Dec 28, 2009
goinsoon wrote:
Quick get me a baby boomers alfoil beanie this thread hurts
Me thinks this bloke is going to fit in REALLY well here.
Welcome
Disco Duck said
10:02 AM Dec 29, 2009
JRH wrote:
When they made me they broke the mould thank God.
And so say all of us!!!!!!!!!!!!!
Disco Duck said
10:06 AM Dec 29, 2009
49.4 % of all statistics are made up on the spot!!
Cruising Granny said
12:13 PM Dec 29, 2009
Statistics are flexible and subject to interpretation.
With this new information, are the former hard-working seniors supposed to feel guilty about their impact on the national budget and forego accepting the pension? I don't think so.
JRH I'd like your budgetting procedure please. The pension provides an existence, but not a lifestyle.
Whoever released that information to the media should be ashamed of themselves for even mentioning it.
I am one of those who believed we paid our taxes in our working days to provide for us when we reach pension age. After 10 years of working in the compulsory super times, I managed to raise a reasonable sum with my own contributions to top it up.
By its very existence, compulsory super is yet another form of tax which you pay tax on again.
Gee I hope I sell one of my books soon.
ibbo said
12:16 PM Dec 29, 2009
Korsakoff played a violin,famous for the Flight of the Bumblebee.Just trying to help.lolCheers.Ibbo.
Disco Duck said
01:24 PM Dec 29, 2009
I like it Ibbo...........
His Uncle ........I. Nokabollokoff was a famous author........He wrote "The Ruptured Russian"
It will open up a can of worms but nevertheless should lead to an interesting discussion:
Abridged version:
TIDAL WAVE OF RETIREES COULD BREAK THE BANK.
Australia is on the edge of a demographic tsunami with 5.3 million baby boomer elligable for the pension next year.
Not only will baby boomer demand more from the tax base, they will also be coming out of the workforce and will stop paying tax.
Apart from a surge in demand for age pensions, ageing baby boomers would also increase pressure on already stretched health budgets.
They are the most obese generation we have ever had.
This is an intriguing situation said Prof. Bell I'd rank it alongside the Industrial Revolution.
In response to some of these emerging challenges the Federal Government will push out the pension eligability age to 67 by 2023.
This is a very abridged version of the complete article and if you wish to read the whole thing just go to news.com
I thought one of the things we paid our taxes for while we worked was to provide some sort of assitance as we aged as well as doing our bit for the economy of the country.
My views only of course, but I felt a little "miffed" when I read the article. To me it would seem that we are going to be blamed for the shortfall in the economic coffers because we are drawing a pension. In a nutshell and as I said just MY view.
Elaine
Ahhh now I get it...the baby-boomers and those older. Oh well.
What its gonna mean for us is less care/places in nursing homes etc as we get older than the short supply available now. The only strategy I can think of is to try really hard to stay healthy. It means being a party-pooper sometimes but I'm terrified of relying on "the system" in the future. Dont think there'll be one!
They say the most pure drink in the world is Scotch and I intend to prove them right by drinking as much of it as I possibly can, that way I am hoping to live a long, long time even if I end up in a pickled state.
I received this email a while back.....
Subject: Letter to the Treasurer
.
Dear Mr.Swan,
Please find below my suggestion for fixing Australia 's economy.
Instead of giving billions of dollars to banks that will squander the
Money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 10 million people over 50 in the work force.
Pay them $1 million each severance for early retirement with the
Following stipulations:
1)They MUST retire. Ten million job openings - Unemployment fixed
2) They MUST buy a new Australian car. Ten million cars ordered - Car
Industry fixed
3) They MUST either buy a house or pay off! Their mortgage - Housing
Crisis fixed
4) They MUST send their kids to school/TAFE/university - Crime rate fixed
5) They MUST buy $100 WORTH of alcohol/tobacco a week .....and there's your
Money back in duty/tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back
Their falsely claimed expenses and second home allowances
If you think this would work, please forward to everyone you know. If
Not, please disregard.
Yours sincerely,
The Whole Country
An old Doctor friend told me he NEVER drinks water, wonder why?
By the way Rosie, please explain Korsakoffs syndrome...........maybe I am having an Alkaseltzer attack but can't for the life of me remember what it is.
Cheers Neil
Sorry if I sound like one of those Temperance women, and yes I have a glass of wine or two myself.
Our governments rave on about smoking but seem to be very laid back regarding the drink problem in Australia today.
Whilst I rabbit on about drinking, in reality I actually drink very little, I hate not being in full control of my faculties and as a youngster it was drummed into me that once one went down that track there was no return. Having said that I still enjoy a good scotch now and again.
Of course if we lived in other countries that dont have any age-pensions, we would have to have lotsa children and then make them feel they owe us so they'll look after us when we're old.
Australia with all its warts will do me.
In my case I had an accident in 1986 which put me out of work permanently, I lost all my super, all eggs in one basket, so have to rely on the pension but we manage to do OK.
I feel I am extremely lucky to be living in the best country on God's earth. Where else in the world could I receive a pension and be able to go caravanning?
Doff away old son, we are off to Albany in the South West of WA in Feb and then April we head North heading for God only knows where. All done on the pension as we do not have any other form of income, so we just take things quietly and stop when we run low on funds until Rudd the Dudd replenishes our coffers.
Welcome