Age Pension indexation
The Council of the Aging of Australia (COTA) says that projecting forward under Government age pension policy shows an “unacceptable, dystopian future” for pensioners, with “escalating degrees of poverty not seen since the Depression era.”
COTA is calling on the Government to withdraw the Bill which would change the indexation of the age pension and implement an “everything to be on the table” Retirement Income Review.
Last week Scott Morrison raised the option of switching the pension to increase only by CPI, but with a three year review:
National Seniors Australia says the Government policy of indexing the Age Pension to only CPI is a “cynical exercise,” calling on the proposal to be taken to an election.
“A change to indexation will drive pension levels down to the meagre levels of the unemployment benefit,” said National Seniors chief executive Michael O’Neill.