Financial Standard Comments - Industry asks for long-term, comprehensive approach to Age Pension The financial services industry has asked the government to take a long-term, comprehensive approach to any changes to the Age Pension and to the superannuation preservation age, following the release of the National Commission of Audit report. https://www.financialstandard.com.au/feed/latest?story=39856109 Fri, 02 May 2014 17:41:05 +1000 Fri, 02 May 2014 17:41:05 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Tony Kelly (ABC Consulting)

Increasing the Age Pension age from 2035 is hardly heroic and will do little to solve the supposed problem we face today. By 2035, life expectation will have increased by at least 5 more years compared to today so the Government's arguments hold no basis. The Age Pension is the heart of Welfare and was the first major welfare benefit in the western World. As such, it should be the last to be changed. It accounts for only 10% of Government outlays and there are many more hollow logs befor tackling this one.

The Government has completely confused itself and the public about what problems we are facing, short term vs long term, and which initiatives will address which challenges.

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]]> Tony Kelly (ABC Consulting) Fri, 02 May 2014 17:41:05 +1000