RETIREES – AUSTRALIA

Morrison prefers housing carrot to pension stick

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Feb-15

The Australian Government has ruled out subjecting a retiree’s home to an assets test for eligibility for the aged pension. Social Services Minister Scott Morrison has instead proposed allowing retirees to downsize to a smaller home without having their pension affected by the proceeds from the sale. Morrison notes that retirees who opt to downsize their home are currently penalised financially

CORPORATES
AUSTRALIA. DEPT OF SOCIAL SERVICES, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL ON THE AGEING, NATIONAL SENIORS AUSTRALIA LIMITED

Home care costs to rise in ageing nation

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Original article by Nassim Khadem
The Australian Financial Review – Page: 15 : 14-Jan-15

A report produced by the Association of Superannuation Funds of Australia examines the estimated household budget that retirees will need for both a "modest" and "comfortable" lifestyle in retirement. It concludes that people in their 90s will generally need less income in retirement than those in their 70s, although most will also require a higher level of care in their home. More than 50 per cent of older retirees still live in their own home

CORPORATES
THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY

Seniors call for independent directors after breach

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Original article by Joanna Mather
The Australian Financial Review – Page: 19 : 13-Oct-14

The Royal Commission into Trade Union Governance & Corruption has been told by Cbus member co-ordinator Lisa Zanatta that she leaked account holders’ details to the Construction, Forestry, Mining & Energy Union. Like most other industry superannuation funds, Cbus has a board composed equally of employer association and trade union representatives. This arrangement has now been criticised by National Seniors CEO Michael O’Neill, who argues all super funds should have independent directors

CORPORATES
NATIONAL SENIORS AUSTRALIA LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, FINANCIAL SERVICES COUNCIL, AUSTRALIAN LABOR PARTY, ACTU