All pensions and allowances must provide for a modest standard of living. Pensions and allowances must ensure that income support recipients with little or no private income can cover the cost of essential goods and services. 

There should be an equitable and adequate retirement income strategy to cater for the many people for whom superannuation will not provide sufficient income for a modest retirement.

Read CPSA's full income policy here

Minimum pension payment measure denied

The Australian reported that a leaked Treasury document explored a plan to scrap all welfare payments below $20.02 a fortnight as part of the May 2017 budget.

Read more: Minimum pension payment measure denied

ASIC's Exciting Report 515

A report (Financial Advice: Review of how large institutions oversee their advisers) by the corporate regulator into the financial planning arms of the Commonwealth Bank, the National Australia Bank, Westpac, ANZ and AMP found 185 planners were "dishonest, illegal, deceptive and/or fraudulent" in their dealings with customers.

Read more: ASIC's Exciting Report 515

Attack on social security falters

The much maligned Social Services Legislation Amendment (Omnibus and Child Care Reform) Bill has been withdrawn.

Read more: Attack on social security falters

Deeming rates too high?

CPSA was asked why the deeming rates had stayed as high as they have, even though the Reserve Bank’s cash rate has gone down.

Read more: Deeming rates too high?

March 2017 pension indexation

The pension has been increased from 20 March as part of the twice-yearly indexation.

Read more: March 2017 pension indexation

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