The Turnbull government's assault on pensioners is a red alert for us all

The Turnbull Government's assault on pensioners is not just an own goal while trying to salvage its budget position.

It also highlights an hypocrisy that goes to the heart of why the cartoon portraits of our politicians seem more real sometimes than the men and women we have elected to serve us.

Imagine if the tables were turned and our politicians were forced to have their pay cut, on the say-so of voters, and it was then made retrospective.

Because that's what's been done here. This move against pensioners is retrospective.

It doesn't just net everyone going to work this week in the hope of building a modest nest egg for the future. It catches those who listened to successive governments, over decades, tell them that they needed to put money away.

These pensioners - our parents and those who worked long and hard - abided by the law, sought advice, and probably went without so that they could have the few extra dollars they now have in the bank.

And what has been their reward? It is now being stolen from them in an ill-thought patchy attempt to make the Budget figures look better.

Is there any wonder they are angry? And that their families are furious on their behalf? Just wait and watch that fury influence the next poll.

But it's more than that. This is not only a pension issue. It's a red alert for all of us.

If a government is prepared to change the rules on the pension in the way we are seeing, what stops it enthusiastically adopting it in other policy areas?

Any voter who negatively gears has made that investment decision based on the law at the time. Does that mean the government, desperate for pennies, can reach into that policy area with a dose of retrospectivity too?

Or what about superannuation? Should we be similarly worried about that?

The amounts of pension money here are significant to those it targets. About 236,000 people will have their pensions reduced; 91,000 part pensioners will lose the payment altogether.

More than 171,500 will get a small pension increase and others will move to a full pension.

But numbers can be read in many ways and are less relevant here than the policy that guides it.

In one swoop, the Turnbull Government has shown that it lacks political nous, has provided ammunition to the Opposition parties, and is willing to hurt a loyal conservative constituency.

Bill Shorten shouldn't be crowing either though. If he genuinely doesn't support it, he should have the guts to reverse it, in government.

With more than seven million voters aged 50 or over, this policy might be the Christmas gift he should not ignore.