“The ASFA Retirement Standard figures are out and they paint a bleak picture of life on the Age Pension”, said Senior Policy Advisor, Amelia Christie.
“It’s a slap in the face to people on Allowances to be told by politicians that the Government is doing their bit in assisting people to cope with unexpected cost of living expenses when the amount equates to a meagre $4 per week. It’s made worse by the fact that the Coalition voted against it”, said Senior Policy Advisor, Amelia Christie.
In light of the Coalition’s plan to increase superannuation tax for low-income earners, CPSA has one question for the Coalition:
“The report into the adequacy of Australia’s allowance system has been released and the recommendations aren’t promising, particularly for older Australians,” said Senior Policy Advisor, Amelia Christie.
“Superannuation fund members pay $20 billion in fees each year despite appalling returns and many being better off if they had put their hard earned cash in the bank.