Australia’s peak seniors advocacy organisation, COTA Australia, met with Federal Treasurer Joe Hockey in Canberra yesterday, following the announcement by the Prime Minister that there will be no changes to the pension during this term of parliament.
“Pensioners will welcome this announcement, which reflects the commitments made during the election
campaign” said Ian Yates, Chief Executive of COTA Australia.
“However there will still be concern amongst older Australians about the flagged changes to indexation
arrangements and eligibility thresholds in three years’ time,” Mr Yates said.
“We made it clear in our discussions with Treasurer Hockey that the government should commence a detailed review of the whole retirement incomes system after the Budget, involving key stakeholders including COTA and other seniors groups.
“This review would need to include the age pension, the superannuation system, including its tax concessions, the settings of the Commonwealth Seniors Health Card, and taxation treatment of retirement incomes.
“We welcome the Treasurer’s stated commitment to exploring ways of enabling the increased participation of all older people in employment which would help to create a more productive Australia.
“Older Australians already make significant contributions as workers, volunteers and in the family sphere, such as provision of child care. Any reforms or new policies affecting older people should seek to optimise and support such contributions and older people’s ability to live well.
“We discussed constructively with Mr Hockey the need for an integrated approach to Australia’s population ageing across a wide range of portfolios including employment, retirement incomes, health, and aged care.
“The Treasurer advised that the next Intergenerational Report (IGR) is currently underway, and proposed that there be an active dialogue between the IGR team and the retirement incomes review process.
“It’s critical that we have a fully informed and inclusive policy decision-making process that does not unfairly target the services and support needed by older people to fully participate in their communities,” Mr Yates said.
The Treasurer assured us that he has no intention of putting at risk the welfare of vulnerable older
Australians reliant on the full age pension, which we welcome.
“COTA looks forward to engaging constructively in any forward looking review of retirement incomes
including superannuation policy, means testing and eligibility criteria, and taxation settings.
Media contact: Ian Yates 0418 835 439, Olivia Greentree 0439 411 774