04 February 2020

In September 2019 the Australian Treasurer announced a review into retirement incomes policy. More information is available here.

The Fix Pension Poverty submission to the review can be downloaded by clicking this link.

The recommendations in the submission are below, but we encourage you to look through the submissions to see why we've focused on these particular aspects of the system.

  1. That the Panel propose to Government the implementation of the Fix Pension Poverty campaign asks, those being: 
    • Increasing Rental Assistance by 30% for couples, 50% for singles, and indexing to rental increases
    • Providing affordable dental care for people receiving the Age Pension
    • Assisting people on the Age Pension with the cost of broadband as this becomes a precondition to accessing essential services
    • Basing decisions on the rate of the Age Pension on evidence, adequacy and need, not party politics
  2. That the Panel propose to Government that Recommendation 1 be funded by addressing tax expenditures from within and outside the retirement system that disproportionately benefit households in the top quintiles of incomes and wealth, who do not require government intervention to save for a comfortable standard of living in retirement
  3. That the Panel proposes to government policies and programs that support the continued engagement of older workers in the workforce as a critical complement to a successful retirement income system. Measures should include, but not be limited to:
    • Addressing ageism as a barrier to employment
    • Introducing measures to ensure that the Newstart Allowance does not materially undermine the intent of the retirement savings policy settings for older workers.
  4. That the Panel recommends that Government pursue ongoing community education campaigns about the three pillars of the retirement system, and our likely reliance on the various pillars of the  retirement system over the phases of our retirement, in order to strengthen public trust and support for the system as a whole.

Fix Pension Poverty will continue to advocate for all of these recommendations, and we thank communities around Australia for your support. 

 

© 2020 Fix Pension Poverty