With interest rates at record lows and the income levels of self-funded retirees close to the poverty line, now is not the time to be changing pension asset testing, according to Palmer United Party federal leader and Member for Fairfax, Clive Palmer.
“Self-funded retirees have taken the burden off government for many years,’’ Mr Palmer said.
“Now when interest rates are at all-time lows and many will need support it is unfair to change the criteria and have them suffer.’’
Mr Palmer said the Abbott Government needed to understand it had a responsibility to all Australians and not to discriminate against any one group.
“To hit self-funded retirees is a heartless act,’’ Mr Palmer said.