Fairness in Retirement
Income

This campaign promotes a retirement income system based on principles of adequacy, sustainability, certainty and fairness.

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The issue

The retirement income system is complex, making it difficult for people to plan for later life.

What we're calling for

We’re calling for pension and superannuation rules to make financial planning simpler, to make it easier for older people to feel comfortable about their financial security in later life.

The benefits

Giving older people greater financial security will improve their wellbeing, giving seniors the confidence to live their best lives.

Our recommendations

Let pensioners work

We recommend employment income be exempt from the income test for pensioners with limited savings or assets. Allowing pensioners to work will boost their retirement incomes and meet crippling labour force shortages.

Adopt a universal pension

A universal pension would give everyone a basic pension. It would eliminate means testing, doing away with deeming and taper rates, which complicate retirement planning of millions of retirees.

Fair and consistent deeming rates

National Seniors Australia is calling for a fair and transparent approach to setting deeming rates.

Increase Age Pension Gifting Limits

National Seniors Australia is calling for an increase in the amount exempt from the Age Pension test that can be gifted to others to encourage older people to support younger people access education, health and housing.

Minister for Older Australians

National Seniors Australia is calling for a dedicated Minister within the federal government to champion the diverse issues facing older Australians, such as discrimination, elder abuse, retirement income, health care and aged care.

Campaign wins

National Seniors Australia campaigned to improve the Pension Loans Scheme (now called the Home Equity Access Scheme).

We were successful in lowering of the interest rate from 5.25% to 3.95%. A huge win for seniors who need a safe way to release their home equity to live a better retirement.

Freeze on deeming

A 12 month freeze on deeming rates has been provided in the 2024 Budget until 30 June 2025 ensuring pension payments do not reduce as inflation rises. This extends the initial two-year freeze that was ending on 30 June 2024.

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Donate

National Seniors is the leading not-for-profit organisation fighting for a fair go for older Australians.

We rely on people like you to donate so we can continue to tackle issues such as age discrimination, accessible housing, pension poverty, health costs, aged care, improve retirement income and provide more home care places so that older Australians can live safely and make ends meet.

Related research and submissions

Become a National Seniors Member

Join National Seniors Australia today and receive discounts on everyday essentials and more

National Seniors Australia members have access to a range of benefits and services – including discounts on Travel, Health and Life Insurance.

As a member, save with discounts, expand your social circle through our branches, receive a yearly subscription to Our Generation digital magazine, and access our Financial Information Consultant by phone.

For only $49.50, anyone can become a member and it only takes minutes to join.