Federal Member for Wide Bay Warren Truss

May 16, 2014

Deputy Prime Minister and Member for Wide Bay Warren Truss has reacted angrily to media reports that he criticised pensioners for “living the high life”.

“Some of the comments on the speech I made at the Conservative Club post-Budget breakfast in Brisbane bear no resemblance to what I actually said,” he said today.

“Read the speech on www.warrentruss.com and make your own judgment.”

In the speech Mr Truss says:

“Demand for the age pension will continue to increase as the population ages. Despite all of the incentives for people to accumulate superannuation to fund their own retirement, the number of people seeking age pension increases by 1,100 people per week.

Increasingly, the lifestyle and savings from superannuation are seen as an opportunity to enjoy a few cruises and the luxuries of life for few years until it runs out and people can fall back on the age pension.

Unless we act soon the pension will become unaffordable.”

“I offered no criticism, passed no judgment, nor made any disrespectful remarks about pensioners and superannuants. Words like ‘squandering’, ‘blowing’ and other inflammatory language were used by commentators and did not appear anywhere in my speech,” he said.

“They are not my words and they certainly do not reflect the intention or tone of my speech.

“I respect the right of pensioners and superannuants to make their own decisions about the way in which they use their income. I do not presume to provide such gratuitous advice to anyone.

“People work their entire lives and quite rightly expect that the age pension will be available to them at the end of their working lives as a safety net.

“The purpose of my address was to explain the Budget and why the government needed to make important decisions to ensure Australia’s future.

“My concern is to ensure the sustainability of the age pension so it will always be available to those who need it.

“In Australia, between 2010 and 2050, the number of people aged 65 to 84 is expected to double and the number of people 85 and older is expected to quadruple. One in three people born in Australia today can expect to live until they are 100.

“Even Bill Shorten said in his Budget Reply speech that there will only be two and a half people in the workforce for every person over 65 within 50 years.

“The Age Pension currently takes up 10 per cent of all Commonwealth spending – $40 billion this year, but it will rise to $72 billion in a decade on current trends – and it will keep rising as our population ages.

“We have to make sure that safety net is secure, and capable in the future of catching the people who need it.

“I have the utmost respect for senior Australians who have worked hard throughout their lives, contributing to our country and their community.

“They certainly deserve the support of the Government in their retirement years and my speech makes this point clearly.

“It is regrettable that this was not properly reported.”