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Leading seniors advocates COTA Australia said the fresh debate on superannuation, taxation, the seniors supplement and the age pension point to the need for a comprehensive review of Australia’s retirement income system.
A secure, liveable income for all older Australians – A COTA Australia position statement
Comments on the age pension made by Minister for Social Services, Scott Morrison, in an interview with Sky News Australian Agenda this morning, have been welcomed by Australia’s peak body for all older Australians.
COTA Australia, the peak body for older Australians, has welcomed many of the recommendations of the Financial Systems Inquiry released today as a positive step towards a system that will deliver better outcomes for older Australians and all consumers.
Deputy PM Warren Truss is reported to have told the Conservative Breakfast Club in Brisbane yesterday that many older people are squandering their superannuation savings on luxury items and cruises and then going on the pension.
Leading seniors advocate COTA Australia has called for a comprehensive look at superannuation policy to ensure individual decisions, such as those announced today, were part of a clearly articulated long-term plan for the system.
COTA Australia has welcomed today’s announcement by Minister for Social Services Kevin Andrews of
a 0.5% drop in social security deeming rates from 4 November 2013.
COTA Australia welcomes the opportunity to provide comment on draft legislation to implement the higher concessional superannuation contributions cap that was announced on 5 April 2013.
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