Editor's Choice
IFM raises Atlas Arteria's bid, urges shareholders to accept
|IFM Investors has raised its bid for Atlas Arteria to its maximum consideration of $5.10 per security, calling it the best and final offer in the absence of a competitive offer.
ASIC secures record $300m penalty over 'egregious' CFD misconduct
|The Federal Court has imposed record penalties totalling more than $300 million against collapsed contracts for difference (CFD) issuer Union Standard International Group and two of its former authorised representatives.
ASX to pay $23m, admits misrepresentation over CHESS replacement
|ASX has admitted that it misled and exposed market participants to financial risk in an announcement related to the delivery of the CHESS replacement project in early 2022, despite realising the delay would occur as early as 21 December 2021.
ACCC approves Magellan, Barrenjoey merger
|The ACCC has greenlit the merger between Magellan Financial Group and Barrenjoey Capital Partners.
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Rethinking default design in a changing market environment
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Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
Mr Rundeman of IOOF says that in addition to loss of the pension, mid-range wealth retirees will have '$600 to $700' of additional expenditure' through loss of concessional benefits.
State benefits vary from state to state but to take NSW as an example, I estimate that the loss to me and my wife of the pension will cause an additional expenditure of at least $2000-$2500 per annum through loss of other benefits.
For example: Car registration (now free) +$350; Water charges (pensioner rebate) p.a. +$600; Rates (pensioner rebate) p.a.+$250; doctor (loss of bulk billing) (4 visits each p.a.) + $200, medical procedures (regular scans for hip and DVD) (loss of bulk billing) +$250; loss of pensioner entertainment discounts for tickets (2 people) + $400. One of our few joys is the annual opera in the park for which pensioner tickets are almost half price. Attending in future would be $200 extra alone.
I have been very disappointed at the standard of debate and the ignorance of politicians on this issue. Just for starters no one ever takes into account that there is only one pension for a couple, but there two people who will have to pay.