Financial Standard Comments - Challenger Care Annuity sales suspended

Comment by Fred Green (Mybusiness)

Fred Green (Mybusiness) — Fri, 28 Nov 2014 16:49:51 +1100

That is EXTREMELY poor form by the DSS - to make a ruling on a product, that is then launched and sold and then decide to reverse their decision in order to reduce their payments to those in Aged Care. A blatant and morally corrupt money grab at our most vulnerable. If the Government want to make changes to Social Security, they should propose them ahead of time (like the changes to AP income assessment from 1st January 2015), NOT look through previous rulings to reverse immediately without ruling to save some money and not even allow grandfathering for those who are already in product - entered into it in good faith.

Reply to article

For original story, Click Here.

Comment by R B (.)

R B (.) — Mon, 01 Dec 2014 13:36:01 +1100

"The Department of Social Services is working with Challenger to ensure that investors are appropriately informed by Centrelink about this reassessment prior to any changes taking effect."

That's like informing a person who is about to be run over by a car, that it hurts...!!

What good does that do for anyone, the driver, or the pedestrian?

Yep, nothing.

Reply to article

For original story, Click Here.

Comment by Tim Johnson (XXXX)

Tim Johnson (XXXX) — Mon, 01 Dec 2014 20:50:04 +1100

Various governments have changed their mind on how to assess various types of income streams probably 5-6 times over the last 10 years. Absolutely disgraceful. Basically no-one can plan their retirement properly because the govt backflips every 2-3 years.

Reply to article

For original story, Click Here.