Glenn Lazarus (Queensland, Independent) Share this | Hansard source

I rise today to stand up for all retirees and pensioners across this country. It is clear that older Australians are under attack. The Abbott government wants to reduce pensions and pension eligibility by tightening up the pension assets test. The government's proposed changes will negatively impact thousands of retirees and pensioners. My understanding is that these changes will reduce pension payments for some 236,000 seniors and cut 91,378 people from the part pension. Some retirees will be about $15 a week better off. Further, the changes will come into effect from 1 July 2017, in approximately 24 months.

Retirement is one of the biggest life changes a person can make. It takes years to save and plan for retirement. Every year, Australians put money aside through investment or super to prepare themselves. Often, hard-working Australians only have a small amount of money to put away each week. Often they have none. So it takes a lot of years and hard work for Australians to achieve some type of nest egg for their retirement. Often people forgo essentials and give up little luxuries to put money aside. Once in retirement or on the pension, many Australians live day to day on very tight budgets. Any slight change in income can mean the difference between being able to afford to put petrol in the car or not going anywhere.

At a time when costs are increasing in Australia, we should not be trying to reduce the income of those most in need or take income from those who have worked all their life to save for a modest retirement. We should be increasing our support for older Australians and pensioners. Once on the pension or retired, Australians do not have the capacity to change their living arrangements or to draw income from other areas. Adjusting the retirement goal posts for so many Australians at such short notice is both unjust and cruel and will cause much distress across the community. Community groups and not-for-profit organisations are already struggling to cope with the increasing number of people unable to pay their bills or put food on their table.

In addition, the proposed pension changes will impact women. Women are still significantly disadvantaged in our community because they have less superannuation and assets than their male counterparts. Women are the backbone of our nation, and many women have taken time off to bring up children and, as a result, have not been able to accumulate the funds needed for retirement. While I understand the need for the federal government to be fiscally responsible, I am at a loss to understand why the Abbott government keeps trying to target vulnerable Australians. I honestly believe pensioners are under attack because they are seen as low-hanging fruit and a quick fix for revenue raising.

I cannot support these changes. If the Abbott government wants to change the way in which pensions are calculated, this should be done in consultation with the community and alongside reviews of other important mechanisms, including superannuation. Any changes should not be introduced until all those affected and potentially affected have the lead time, resources and capability to plan for the changes and adjust their retirement plans accordingly.

My home state of Queensland is considered the retirement capital of Australia. Not only are we incredibly welcoming and friendly people—and I am sure Senator Moore would agree—we also put on nice weather and offer great beachside locations. Many retirees and pensioners across Queensland will be affected by these pension changes. Queensland is already on its knees. We are still facing high levels of unemployment and a range of other financial and social issues associated with the drought. These pension changes could not have come at a worse time.

I do not support these pension changes, and I am disappointed that, once again, dirty deals have been done to push through legislation that attacks pensioners and retired Australians. I should note that, while a few senators in this chamber seem to think this bill is a good idea because it targets wealthy retirees, the reality is that it targets middle income retirees and those who are unable to change their financial circumstances. My view is one of principle—stop attacking those who are unable to protect themselves. Do not change the pension and retirement goalposts without fair warning. And this is one of the key reasons why I do not support this bill—there is no fair warning, and hard-working Australians are being treated with contempt by the Abbott government.

I strongly urge my Senate colleagues to vote this bill down. The people of Australia do not want and cannot afford these pension changes. I do not support these pension changes.