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The Federal Government’s move to lift the Low-Income Super Tax Offset (LISTO) will deliver a significant superannuation boost to millions of lower-paid workers – many of them women – and make the system fairer, COTA Australia says.
The introduction of legislation requiring super to be paid on payday is a crucial move that will make a significant difference to the retirement incomes of older Australians, COTA Australia …
COTA Australia welcomes today’s Age Pension indexation increase and notes the Government’s decision to stage increases to deeming rates – a move which, while not without concern, will give older Australians greater certainty to plan and budget.
Having a reliable source or sources of income in retirement is essential for older people. The Retirement Incomes Review outlined 3 pillars to Australia’s retirement income system; the age pension, …
Superannuation members receive minimal information about their projected retirement incomes. As the Government regulates the minimum drawdown people should take from their superannuation (and without an independent advice), this minimum …
The income support system should treat all Australians at all life stages equitably, recognising the important social safety net it provides including adequate levels of income (above the poverty line) …
The Federal Government’s response to the Quality of Advice Review, which was aimed at improving the
accessibility and affordability of quality financial advice, shows a commitment to ensuring consumers – including
older people – are given the best possible financial advice, COTA Australia says.
The Federal Government’s release of a consultation paper on the retirement phase Australia’s superannuation system is a positive step towards reforming the system to ensure it provides all Australians with the security and income they need to have the dignified retirement they deserve.
The joint report shows that most super funds are falling short on the support they offer members in retirement, and that more work needs to be done to plan for improving their shortcomings.
Moves to make it easier for superannuation funds to provide affordable advice to Australians about their super, will help older Australians and those nearing retirement make better informed decisions about their retirement savings, COTA Australia says.
COTA supports having a goal, and making sure that goal is retirement income for older Australians.
A 3.7 per cent increase in the pension is a welcome relief for older Australians, but falls short of properly addressing the financial pressures that older people are facing, COTA Australia – the peak body for older Australians – says.