Do you agree with these bold Federal Budget statements?
How happy are you with the Federal Budget measures for older Aussies?
"Retirees welcome the allocation of more funding in the Federal Budget to improve the quality and safety of the aged care system and some additional measures to retirement savings,” says President of the Association of Independent Retirees (AIR) Wayne Strandquist.
Does he speak for you?
"It is pleasing to see the Budget allocation to lift the standards of residential aged care and reduce the abuse in aged care homes," said Mr Strandquist.
"The additional 80,000 new home care packages are welcomed as the waiting lists will be reduced substantially. Many retirees have been waiting for extended periods and will now have access to the care they need. AIR has been seeking to reduce the waiting list for each of the 4 levels of care offered."
Do you agree?
"Retirees welcome the measures in the Federal Budget to improve retirement savings for retirees and those approaching retirement," said Mr Strandquist.
"The improved flexibility by removing the work test for non-concessional contributions to superannuation over age 65 will be of considerable assistance to retirees who were not able to accumulate sufficient superannuation while working.
"Lowering the age for downsizer contributions from 65 to 60 years will also assist empty-nesters boost their superannuation as they prepare for retirement.
"The past year has been difficult for retirees partly or fully self-funding their own retirement with next to zero interest rates on cash investments, lower company dividends, and lower rental income. It is pleasing to see some superannuation reforms announced in the Budget and the expectation of the economy continuing to recover from the coronavirus pandemic."
Do you agree with Mr Strandquists statements? Why not tell us what you really think of Federal Budget 2021-22?
There must be a two tiered system to superannuation, in much the same way as we have with health
insurance. The medicare levy to fund public health, and the choice of the individual to buy some private
cover if so desired.
Perhaps an Age Pension levy to fund the public superannuation scheme (Age Pension), and the choice to
buy some private super if so desired. It is clear there is a need for both, but in the right balance.
The political establishment, both Liberal and Labour, should stop eroding the Age Pension Scheme.
They should begin to repair it, and begin by scrapping the assets test. The family home should never
be included in any asset test either. The political party which tries to pull that stunt will be relegated to
the Opposition benches forever and a day.