Women short-changed on super

New research shows women are being short-changed on super as well as earning lower wages than men.

Marking International Women’s Day (Wednesday, 8 March), Industry Super Australia said that an analysis of the latest data from the Australian Tax Office (ATO) reveals women working for wages and eligible for the Superannuation Guarantee were underpaid $1.84 billion in super contributions by their employers in 2013-14.

The average underpayment was $1,550.

Most expect to work into retirement years

New research shows most Australians in paid employment expect to be working in some form well into their retirement.

A total of 61 per cent of workers surveyed believed their working life would continue into their retirement years.

Seventy per cent said they expected to draw a government pension in retirement.

Galaxy Research’s Ready to Retire Study, commissioned by News Corp Australia in partnership with Industry SuperFunds, found many workers were concerned about how much they would need in retirement savings to live stress-free.

National Seniors appoints Ian Henschke as new chief advocate

National Seniors Australia has appointed former ABC Radio and TV journalist and presenter Ian Henschke as its Chief Advocate. He also served as an ABC Board Director.

National Seniors’ Chief Executive Officer Dagmar Parsons said the role of Chief Advocate will build upon the successes of the past and transform engagement with the over 50s.

Unpaid super costs workers dearly, new research finds

Workers on the verge of retirement who are short changed on their superannuation entitlements have nest eggs worth tens of thousands of dollars less than those who are paid correctly, new research shows.

Using the latest 2013-14 data from the Australian Tax Office (ATO), Industry Super Australia found that people aged 60 to 64 earning between $50,000 and $75,000 whose employers did not correctly pay their Super Guarantee (SG), had overall super balances $35,089 or almost 40 per cent less than those who were.

More working hours wanted

New figures out this week show one million Australians want more hours of work.

The latest results from the Australian Bureau of Statistics’ (ABS) Participation, Job Search and Mobility Survey reveal there were one million underemployed workers in February 2016, of whom 945,400 worked part-time.

A further 76,700 usually worked full-time, but worked part-time in the reference week due to economic reasons, such as being stood down or insufficient work being available.

Older workers can boost the economy

Harnessing the power of an older workforce could deliver gains of up to $78 billion for the Australian economy, a new report reveals.

According to the Price Waterhouse Coopers (PwC) report, if Australia’s employment rates for workers aged 55-plus were increased to those in Sweden (where 74% of those aged 55-64 are employed), Australia’s GDP could be around 4.7% higher.

Higher pension age means women work longer

New research has dispelled the notion that some women may be manipulating the welfare system to claim benefits before they reach the Age Pension qualifying age.

The University of Melbourne study, based on Centrelink and Australian Bureau of Statistics (ABS) data, showed that increasing the Age Pension age from 61 to 65 for women resulted in women spending longer in the labour force, rather than seeking Centrelink benefits.

The qualifying age for women began to increase from 1995 until July 2013, when the pension age for both men and women became 65 years.

Submission to Federal Budget 2016-17

National Seniors has outlined a number of key recommendations to the Federal Government as part of its pre-Budget submission including a holistic retirement incomes strategy, improvements in mature age employment, digital literacy initiatives, suitable housing options for seniors, better quality health and aged care, and a national approach to tackle elder abuse. 

Guide to help protect older South Australians

A new guide aimed at protecting the rights of older South Australians will help them make informed decisions at critical stages in their lives.

South Australia’s Minister for Ageing Zoe Bettison said the guide, Knowing Your Rights – A Guide to the Rights of Older South Australians is available free online for by calling the Legal Services Commission.

It includes information about housing, services, consumer and employment rights, financial matters, family and health, legal rights, security and safety and volunteering.

NSW seniors to get discount rides with Uber

NSW Seniors Card holders will get access to discounted trips with Uber, the state’s Minister for Ageing John Ajaka said.

The government has signed an agreement with the ride-sharing service to help them get to where they want to go – or to find work as a driver.

“By partnering with Uber, we are making it easier than ever for seniors to get around NSW,” Ajaka said.

“Importantly, the deal is also about giving seniors the opportunity to better understand how they could use Uber to potentially re-enter the workforce and make some money.”

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