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The passing of the Superannuation Objective Bill 2023 through parliament will help ensure Australians’ right to a dignified retirement is protected, COTA Australia says.

This is a summary of the changes achieved through the consultations on the Foundations for a new Aged Care Act (September 2023), the exposure draft (February 2024) and the new Aged Care Act introduced into Parliament.

The Aged Care Bill was passed through the Senate last week and cleared its final hurdle with the Senate amendments accepted by the House of Representatives today, officially making it law to commence on 1 July 2025.

Chief Executive Officer of COTA Australia – the leading advocacy organisation for older people – Patricia Sparrow said the Act, which includes many of the amendments older Australians fought very hard to have included, marks a turning point in the struggle to get fundamental rights for older people

Chief Executive Officer of COTA Australia – the leading advocacy organisation for older people – Patricia Sparrow said that Australians deserve to be able to have a dignified retirement and changes to ensure the information they get in retirement is transparent and reliable are crucial.

"For many older Australians, cash is a cornerstone of financial independence, not just a payment tool,” Ms Sparrow said.