The Australian Liberal Party says the pension system should not be enforced for low-income people in Australia

[Current News]     2019-07-26
The new state of senator Prague has called for no enforcement of the pension system. (Australian Broadcasting Corporation reports)

The new state of senator Prague has called for no enforcement of the pension system. (Australian Broadcasting Corporation reports)

The newly elected Liberal Party councillor proposed a major reform of the retirement policy of both parties in Australia.

Andrew Bragg, a new state, outlined in his first speech why he believed the mandatory terms of pension would need to be removed from the legislation, the Australian Broadcasting Agency reported.

"for low-income Australians, because of pension problems, it is more difficult for them to buy a home."

Although the senator has just taken office, he is no stranger to politics or finance. He served as federal director of the Liberal Party in 2017 and worked in pension related fields for several years.

He wants people to take control of where money is spent and give office workers some options so that they can save their present savings or deposit them in pension accounts.

"I might change direction: for Australians earning less than A $50, 000, pensions should be paid voluntarily, not mandatory."

He also believes that reform will benefit not only workers, but also federal government. Because if Australians keep cash, they will be taxed at a higher rate rather than reducing the pension rate.

The proposal is understood to infuriate the prime minister because he told colleagues earlier this week not to disclose the issues they wanted to discuss internally.

Morrison (Scott Morrison) urged House councillor (Member of Parliament) to pass "normal internal party procedures," including talks and discussions with relevant directors or at party meetings.

"if you discuss it outside these normal procedures, you don`t respect the people sitting next to you," he said.

Other Liberal parties also question the problem of pension.

Prague is just one of a growing number of Liberal councillor questioning the effectiveness of the pension system.

Some, including Wilson (Tim Wilson) and Kelly (Craig Kelly), want to discuss whether the plan to adjust the pension rate to 12 percent by 2025 should be replaced by a pay rise and given to office workers as salary.

Earlier this week, Treasury Secretary Coleman (Mathias Cormann) denied a change in the schedule for pension increases.

In addition, speaker of Finance Director Freedenberg (Josh Frydenberg) said government would not consider Prague`s decision. But as the number of liberals calling for pension grew, Labour shadow treasurer Chammers (Jim Chalmers) said it would be a test of party unity in Australia.

Yates (Ian Yates), chief executive of the aging council (COTA), opposes volunteering any branch of the pension system. "We are worried about any factors that can affect the integrity of the pension system, especially systems that do not encourage young people to deposit their money in pension."

It is reported that, on the recommendation of the Productivity Commission, government has pledged to conduct a detailed review of Australia`s retirement income system.

Mr. Yetz supported the review and urged political parties to keep quiet until the investigation began, in order to make the public feel Panic.

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