Federal Pre-Budget 2018-19 Submission

National Seniors submission to the Federal Budget 2018-19 consultation process presents a number of key recommendations to the Federal Government on behalf of older Australians.

Jobless seniors to get government help to retrain

Older unemployed Australians living in five regional and urban areas will be able to access government help to retrain from the middle of 2018.

Federal Employment Minister Michaelia Cash said the Career Transition Assistance Program would be trialled from July 2018 in Ballarat in Victoria, Somerset in Queensland, the NSW Central West, south Adelaide and north Perth.

Job seekers aged over 50 would be able to complete a short, intensive course that assessed their skills, looked at what jobs might suit them, and learn new techniques for searching for work.

Baby Boomers start more businesses than Gen Y

Tech-savvy Baby Boomers are expected to start 14,000 new businesses each year, more than double the number of start-ups than their Gen Y counterparts, new research shows.

Baby Boomers also contribute an additional $11.9 billion to Australia’s Gross Domestic Product (GDP) in retirement ventures each year, according to the nbn™Silver Economy report, released this week.

Financial squeeze can cancel out joys of retirement, study shows

A new study has found that retirement can be just as stressful as working in a lower-paying job.

The first study to measure stress levels before and after retirement, rather than asking people how they felt, took five saliva samples throughout the day from 1,143 high-, middle- and low-grade public servants working in London.

Age discrimination affects 3 in 10 jobseekers

A new study has found more than three in 10 Australians aged 45 and over have experienced age discrimination while employed or looking for work in the past year.

According to the University of South Australia survey of 2100 men and women, the most common form of discrimination involved negative views about the skills and learning abilities of older workers.

Study author Justine Irving said because of the discrimination, older workers faced limited employment, training and promotion opportunities.

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.

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