AGED PENSION – AUSTRALIA

Plan for over-65s to ease jobs crisis

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Original article by Patrick Commins
The Australian – Page: 1 & 2 : 27-Jun-22

Employers’ groups and the Council on the Ageing have expressed support for a proposal to address the skills crisis by allowing older Australians to work additional hours without affecting their pension payments. Australian Chamber of Commerce & Industry CEO Andrew McKellar estimates that this could encourage at least 400,000 people over the age of 65 to return to the workforce. Treasurer Jim Chalmers has indicated that the proposal is among the issues that will be discussed at the national employment summit later in 2022.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, COUNCIL ON THE AGEING, AUSTRALIA. DEPT OF THE TREASURY

Age Pension for all beats hike in super

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Original article by Adam Creighton
The Australian – Page: 2 : 13-Feb-20

Mercer has used a submission to the federal government’s review of the retirement income system to call for the superannuation guarantee to remain at 9.5 per cent and to abolish means-testing for the age pension. The super guarantee is legislated to be progressively increase to 12 per cent by 2025, and some Coalition MPs have also called for the increase to be scrapped. Michael Littlewood, who helped design New Zealand’s retirement system, says there are major problems with Australia’s retirement system.

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MERCER INVESTMENTS PTY LTD

Call to count home in pension

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Original article by Adam Creighton
The Australian – Page: 2 : 14-Mar-16

A report from the Actuaries Institute argues the case for retirees’ homes to be included in the means test for the age pension. The report notes that around one per cent of retirees’ home equity is currently being used to provide a retirement income stream. The institute has also proposed streamlining the regulation of home-equity release products such as reverse mortgages, as well as a reduction in stamp duty to encourage retirees to move to smaller homes.

CORPORATES
THE ACTUARIES INSTITUTE, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AUSTRALIA. NATIONAL COMMISSION OF AUDIT, AUSTRALIA. PRODUCTIVITY COMMISSION, THE CENTRE FOR INDEPENDENT STUDIES LIMITED, AUSTRALIAN LABOR PARTY, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB