Aussie woman sparks outrage over age pension question: ‘entitled’
88-year-old chastised online for financial questions over age pension despite wealth of more than $800,000
A woman has caused a stir after asking a financial columnist whether she could qualify for an age pension despite having a house and nearly $700,000 in the bank.
Writing in the Sydney Morning Herald’s ‘Ask Noel’ column, the 88-year-old woman explained that she was previously on a pension before her husband’s death only to have it removed when she was named as the sole beneficiary in his will.
He then detailed his assets, including his own home, $25,000 in income, $680,000 in savings, and $180,000 in stocks.
Being the sole beneficiary of the will immediately disqualifies her from the age pension, which is a government-paid salary of just under $28,000.
‘I now have all the assets but no pension,’ he wrote.
An 88-year-old woman who has a salary, owns a home and has assets of more than $800,000 has been chastised for asking if she can get an age pension (stock image)
The woman was criticized online after sharing her question on Twitter, with many describing her as ‘entitled’ for asking for government-based income when she has huge savings.
‘Lady you are 88, where are you getting 25k per year if you don’t invest? You’ll be fine,’ one user wrote.
‘He sounds like an entitled millennial,’ wrote a second.
‘Just cash or take out some of these shares and save some and save it for the next few years,’ wrote a third.
‘If they’re 68 and expected to drain their savings over 20 years, at 88? Ladies how long do you think you have left? Use your damn savings,’ wrote the fourth.
In response to the woman’s question, Noel Ferguson highlighted the potential problems with approving a will with a sole beneficiary.
Ferguson wrote, ‘As you have learned, a widow can lose her pension if all the money is left to her instead of being judiciously dispersed among the family members.’
He went on to say that the age pension was ‘off the table’ for the woman, but could apply for a Commonwealth Senior Health Card, a concession card that would allow her access to cheaper healthcare.
The question was posted online on Twitter where many users described her as ‘entitled’ to the government-paid income despite having substantial savings.
Other users wrote personal accounts of people they knew in similar situations.
‘I know a few people in this situation. They really think they’re poor,’ wrote one.
‘Having taken my mum to a financial adviser, panic seems to be a growing problem in older people who are otherwise well off,’ wrote another.
However, not all users were against questioning the woman, saying she had every right
One user wrote, ‘She’s entitled to question what she’s entitled to, I don’t understand people pushing her’.
‘He’s smart, looking after himself, how many young, working people, system games?’ Another wrote: