Retirement Income and Superannuation
This campaign promotes a retirement income system based on principles of adequacy, sustainability, certainty and fairness.
The issue
The retirement income system is complex, making it difficult for people to plan for later life.
What we're calling for
We’re calling for pension and superannuation rules to make financial planning simpler, to make it easier for older people to feel comfortable about their financial security in later life.
The benefits
Giving older people greater financial security will improve their wellbeing, giving seniors the confidence to live their best lives.
Let pensioners work
We recommend employment income be exempt from the income test for pensioners with limited savings or assets. Allowing pensioners to work will boost their retirement incomes and meet crippling labour force shortages.
Adopt a universal pension
A universal pension would give everyone a basic pension. It would eliminate means testing, doing away with deeming and taper rates, which complicate retirement planning of millions of retirees.
Fair and consistent deeming rates
National Seniors Australia is calling for a fair and transparent approach to setting deeming rates.
Increase Age Pension Gifting Limits
National Seniors Australia is calling for an increase in the amount exempt from the Age Pension test that can be gifted to others to encourage older people to support younger people access education, health and housing.
Performance Test for Income Phase Products
National Seniors Australia is calling for the performance test to be extended to superannuation retirement phase products to help weed out underperforming funds and products
Deeming rate change
National Seniors successfully advocated to government to take a cautious approach to any changes to the deeming rates as the freeze ended on 1 July 2025. Government has minimised increase in deeming rates and timed these with indexation to minimise negative impacts on pensioners – as we recommended!
Superannuation tax changes
National Seniors advocated for government to include indexation in any proposal to change the tax rate for super balances above $3 million and for the unrealised gains method to be dumped – which the Treasurer has accepted in a revised proposal.
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Donate
National Seniors is the leading not-for-profit organisation fighting for a fair go for older Australians.
We rely on people like you to donate so we can continue to tackle issues such as age discrimination, accessible housing, pension poverty, health costs, aged care, improve retirement income and provide more home care places so that older Australians can live safely and make ends meet.
Join National Seniors Australia today and receive discounts on everyday essentials and more
National Seniors Australia members have access to a range of benefits and services – including discounts on Travel, Health and Life Insurance.
As a member, save with discounts, expand your social circle through our branches, receive a yearly subscription to Our Generation digital magazine, and access our Financial Information Consultant by phone.
For only $49.50, anyone can become a member and it only takes minutes to join.
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