The Coalition has accused Labor of running a "dishonest scare campaign" on changes to the pension assets test due to come into force from January 1, as polls show a drop in support for the government among older voters.
Special Minister of State Scott Ryan broke the holiday silence from the government and addressed the media on Tuesday to make the accusation.
"These are changes both the Coalition legislated but also the Labor Party took to the election as part of its election policy," Mr Ryan said.
"There's a dishonest scare campaign being run by Bill Shorten and his union mates despite the fact these are policies they took to the election campaign and regardless of who was in government these would be coming into effect on January 1."
A Newspoll survey clocked a 7 percentage point drop in support for the government from 49.9 per cent to 43 per cent among over 50s from October to December.
The changes to the pension assets test and doubling of the taper rate were contained in former prime minister Tony Abbott's 2015 budget.They are set to save budget $2.4 billion over four years from 2015-19, and Labor say they will mean 330,000 pensioners either lose all or part of their pension.
After the 2015 budget, Labor came out to oppose the changes. Then in May this year before the 2016 election, Mr Shorten said Labor would be banking the savings in their costings.
"We do not believe, looking at the latest set of books that the government has just revealed last week, that we're in a position to restore the changes they've made or reversed the changes they've made to the pension assets test," said at the time.
Instead he said Labor would review the age pension system if elected.
Now in the lead up to January 1, unions have been running a robo-call campaign against the changes which Mr Shorten has effectively supported.
"Do you stand up for them or do you stand up for the Turnbull government who is taking pensioners and making them worse off but yet they are going to reward big companies and millionaires with tax cuts that those people don't need?" Mr Shorten said.
On Tuesday Mr Bowen suggested they would not be reversing the changes despite their vocal opposition.
"The Greens and the Liberals voted for them then we made clear we that we couldn't repair all the damage that the Greens and the Liberals had done. We would not have proposed it in government," he said.
From January 1, the upper threshold for a couple who own their own home to receive a part pension will fall to $816,000 from $1.2 million.
For a single homeowner, the threshold will fall to $542,000 from $794,000.
But there are benefits for those at the lower end. A couple who own their home will now be able to receive a full pension if they have $375,000 of assets, up from the previous $297,000,000 of assets threshold.
And a single homeowner will be able to claim a full pension with $250,000 of assets, up from $209,000.
The government estimates such changes will benefit 170,000 of the most vulnerable pensioners.
"170,000 of our most vulnerable pensioners see an increase to the support they receive and we are redirecting support in a limited resource," Mr Ryan said.
Those who lose their entitlement to the age pension will retain pensioner concessions - such as their health care card.
The so-called taper rate will also double - a further hit to part pensioners.
From January 1, an individual's pension will be reduced by $3 a fortnight, or $78 a year, for each extra $1,000 in assessable assets.
Currently the amount of pension falls by $1.50 for each extra $1000 of assets.
Mr Ryan said the changes were fair and any opposition will diminish when most pensioners realise they are not impacted.
"I don't make predictions about the future but when 90 per cent of those see no change...The family home remains completely exempt and it only those with a substantial asset base that see some change. I think most Australian will support them," he said.
