Cost of Living
National Seniors is campaigning to reduce the cost of living and inflationary pressures affecting older Australians.
The issue
Inflation has soared, causing high costs for consumer goods and services, and older Australians are among those hit hardest.
What we're calling for
A reduction in fuel costs via the fuel excise, a cost-of-living dividend to reflect additional revenue raised during periods of high inflation, and a freeze in deeming rates are among our policy priorities.
The benefits
To improve household living standards and support older Australians on low fixed incomes.
Address cost-of-living and inflationary pressures by reducing fuel costs via the fuel excise
National Seniors is calling for a temporary reduction in the fuel excise while oil prices remain high (up to 20c per litre), a pause of indexation while oil prices are high, or a revision of the method used to calculate indexation to ensure it is not contributing to inflationary pressures.
Provide a cost-of-living dividend during periods of high inflation
We recommend that surplus budget revenue be used to deliver a cost-of-living rebate of up to $500 to Australian households via electricity bills. The government could provide a base rebate to all households with a higher rebate to those most in need such as pensioners.
Create a targeted Pensioner Concession Card Plus (PCC+)
The prevalence of poverty among Australian aged 65 and older is estimated to be 20%. We urge the Federal Government to create a targeted Pensioner Concession Card to provide additional support. Existing customer data could help tailor the PCC+ eligibility to target those who need it most.
Fair and consistent deeming rates
National Seniors is calling for a further 12-month freeze to deeming rates. The government should use this time to establish a consistent and transparent methodology for setting deeming rates, one that reflects community expectations. This would stop any confusion about how rates are set when changes to interest rates occur in the future.
Minister for Older Australians
National Seniors Australia is calling for a dedicated Minister within the federal government to champion the diverse issues facing older Australians, such as discrimination, elder abuse, retirement income, health care and aged care.
Energy Rebate
In Queensland, a further rebate of $1000 is available (on top of an existing $372 Energy Rebate and for seniors).
Freeze on deeming
A 12 month freeze on deeming rates has been provided in the 2024 Budget until 30 June 2025 ensuring pension payments do not reduce as inflation rises. This extends the initial two-year freeze that was ending on 30 June 2024.
Rent assistance
A 10% increase to the maximum rate of CRA was announced in the 2024 Federal Budget. This increase will begin from September 2024 and is on top of the 15% increase provided in the 2023 Budget to assist renters with rising housing costs.
Read our report on Older People’s Responses to the Rising Cost of Living
National Seniors Australia surveyed 5,806 people aged 50 or over about recent cost-of-living increases and the impact they have had on their lives. This report focuses on personal experiences: the multitude of ways older individuals have responded to the cost-of-living crisis.
