A smarter way to support pensioners
How can government do more for those with less? By making it easier to target additional concessions.
As the cost of living continues to weigh on older Australians, National Seniors Australia (NSA) is calling for a more targeted approach to concessions and financial support for Age Pension recipients.
The proposal is straightforward: create a new Pensioner Extra Concessions Card for pensioners with the least financial capacity, giving them access to additional concessions and assistance while maintaining all existing Pensioner Concession Card benefits.
This isn’t about taking things away, it’s about giving more to those who need it.
At present, every pensioner who qualifies for a Pensioner Concession Card receives the same concessions regardless of their financial circumstances. This means a pensioner with substantial assets can access the same concessions as someone with very limited savings and few resources to draw upon.
NSA believes a Pensioner Extra Concessions Card would provide governments with a practical way to better support those older Australians most vulnerable to financial stress. Eligibility could be determined using income and asset information already collected as part of Age Pension assessments, making the system simple to administer.
NSA research supports this idea
The need for targeted support is reinforced by National Seniors research into affordability concerns among older Australians and our research into the affordability of health costs.
In a survey of more than 4,000 people aged 50 and over, pensioners were significantly more likely than self-funded retirees to express concerns about meeting everyday expenses over the next 12 months. Full pensioners reported the highest levels of concern, particularly when it came to essentials such as electricity, groceries, healthcare, transport, and insurance.
The same results were reflected in an earlier survey of 5,400 older Australians, which asked people if they had been prevented from accessing health care due to cost. It showed that people whose only income from the pension were two to three times more likely to have had cost prevent them from accessing health care than those with other income sources.
These findings highlight an important reality: while older Australians are often grouped together in policy discussions, their financial circumstances can vary enormously.
Some retirees have substantial savings and assets, while others rely almost entirely on the Age Pension to cover their daily living costs.
A Pensioner Extra Concessions Card would help ensure future assistance reaches those most in need. It could be used to deliver higher concession rates on energy bills, council rates, medicines, and other essential services, providing meaningful relief where it would make the biggest difference.
The proposal could also support the delivery of future programs targeted at low-income pensioners, helping governments direct assistance more effectively while recognising the financial challenges many older Australians face as they age and draw down their savings.
Importantly, it would ensure that retirees who spend down their savings are supported if they do.
For National Seniors, the principle is simple: support should be fair, targeted and responsive to need. As affordability pressures remain a major concern for many older Australians, a Pensioner Extra Concessions Card could provide a practical and equitable way to help pensioners who are doing it toughest.
To support our policy, join our Fix Pension Poverty campaign today.
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*The discount applies to the total National Seniors travel insurance premium and is for National Seniors Australia members only. Discounts do not apply to the rate of GST and stamp duty or any changes you make to the policy. nib has the discretion to withdraw or amend this discount offer at any time. This discount cannot be used in conjunction with any other promotional offer or discount. ^ Cover is subject to terms, conditions, limitations and exclusions in the PDS.
For Travel Insurance policies purchased before 8 September 2026
National Seniors Australia Ltd ABN 89 050 523 003, AR 282736 is an authorised representative of nib Travel Services (Australia) Pty Ltd (nib), ABN 81 115 932 173, AFSL 308461 and act as nib's agent and not as your agent. This is general advice only. Before you buy, you should consider your needs, the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and Target Market Determination (TMD) available from us. This insurance is underwritten by Pacific International Insurance Pty Ltd, ABN 83 169 311 193.
For Travel Insurance policies purchased on or after 8 September 2026
National Seniors Australia Ltd ABN 89 050 523 003, AR 282736, is an authorised representative of AWP Australia Pty Ltd, ABN 52 097 227 177, AFSL 245631, trading as Allianz Global Assistance (AGA), and acts as AGA's agent and not as your agent. nib Travel Services (Australia) Pty Ltd (nib), ABN 81 115 932 173, AFSL 308461 acts as third party administrator on behalf of AGA, managing claims, complaints, enquiries and sales. This is general advice only. Before you buy, you should consider whether the product is appropriate for you, the Product Disclosure Statement (PDS), Financial Services Guide (FSG) and Target Market Determination (TMD) is available from us. This insurance is underwritten by Pacific International Insurance Pty Ltd, ABN 83 169 311 193, AFSL 523921.
