National Seniors Australia's key election policies
COST OF LIVING
Retain the deeming rate freeze until a fairer method is devised.
Let Pensioners Work by exempting employment income from the pension income test.
HEALTH & AGED CARE
Review the private health system to reduce premiums and out-of-pocket costs.
Provide more Home Care packages to reduce wait the list to three months.
BANKING & SUPERANNUATION
Create an Australia Post bank for regional and rural Australia.
Protect your hard-earned super by retaining choice and control.
With one in three, or 5.9 million, voters aged 60 and older, why have candidates this election seemingly ignored the needs of older Australians? Their vote will play a critical role in deciding who forms the next government, but their unique concerns don't seem to matter.
The older population, in its younger guise, contributed much to the opportunities and prosperity many of us enjoy today. They worked hard, made sacrifices, and should be able to enjoy their later years.
They continue to contribute to the economy, through spending and the transfer of savings to future generations. They also contribute in other ways, via the provision of caring for grandchildren and / or partners, or by volunteering in the community.
While many commentators like to point the finger at "boomers" as cashed up and selfish, this simply isn't true. 1.1 million pensioners have less than $100,000 in assets. If super is yielding only about 6.4% per year (long-term average), this isn't a lot to supplement the Age Pension for a significant portion of older people.
Current global uncertainty about share markets and the flow through impact to superannuation returns has again highlighted how dependent older people's income relies on factors beyond their control. While some continue to work to supplement their income from savings and the Age Pension, many do not, or cannot, often due to ailing health.
This makes older people more "tuned in" to policies that impact savings and spending, in addition to many other ageing related concerns.
Yet, where are the policy promises specific to the needs and contributions of older Australians relating to the Age Pension, accessible and affordable housing, retirement income, health and aged care, social isolation and mature age employment?
Again, the misguided view that boomers are all swimming in rivers of gold means we forget that some are trying to keep their heads above water and need help.
Where is the leadership, guidance, support, and most importantly, the respect for their plight?
Having watched the election closely, I feel that our leaders' vision for Australia's future does not include people over the age of 60 - an interesting and alarming notion given the number of Australians aged 65 and older will more than double and the number aged 85 and older and will more than triple over the next 40 years.
The 2023 Intergenerational Report as announced by the Federal Treasurer provides a big picture view of the forces that will shape our economy and fiscal position over the next 40 years. It highlights the ageing population, rising demand for care and support services, and technical and digital transformation as three of the top five forces affecting the coming decades.
As the Treasurer's forward states, "Australia's success will come down to how we manage and maximise these big shifts that are underway. The decisions that we make in this defining decade will go a long way to ensuring our country has its best years ahead of it."
Again, with so much of Australia's future influenced by older Australians, why have older Australians who give so much been ignored during the election campaign?
The next term of parliament provides an opportunity to refine the direction of government policy to better acknowledge and give a helping hand to all those who need support, both young and old.
National Seniors Australia took six key recommendations, across three policy areas to the election. We will continue to advocate for these to be adopted over the next term of government, regardless of who wins.
We call on all politicians to adopt a broader, more inclusive, and collaborative approach to policy where all populations, both young and old, can look forward to a positive future in which we can all benefit.
Remember, older people were once young, and younger people will one day be old.
