The Federal Budget was handed down and a number of key changes have been made for Retirees.
The key points of interest for Retirees include the following:
* Wealthier retirees to lose access to the pension
* More part pensioners to receive the full pension
* Asset test taper to increase
* Retirees adversely affected by pension changes guaranteed the Commonwealth Seniors Health Card or Health Care Card
* Tightening of overseas absence rules to maintain pension entitlements
* Plans to index pensions to inflation have been axed
* Medicare levy for single seniors and pensioners increased
* Terminal medical condition of release period for superannuation is extended from 12 months to 24 months.