22nd Mar 2018
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Older Australians say Age Pension "too complicated"

A staggering number of older Australians say the rules and regulations of retirement income are too complicated, as too are insurance and other service contracts.

Just under 75 per cent of older Australians surveyed in the YourLifeChoices Retirement income and financial literacy survey 2018 are unsure about Age Pension entitlements and could potentially be missing out on income that could help them live a better retirement.

Then there’s superannuation, with around seven in 10 saying that the system is too complicated and over 73 per cent saying they don’t understand how financial investments work.

Add to that the 72 per cent who find it difficult to find help when it’s time to make a financial decision, and you can see why YourLifeChoices developed the Retirement Bootcamp™ to help older Australians make the most of their post-work years.

The Retirement Bootcamp™ is an intensive retirement workshop, where guests are given direct access to some of Australia’s leading retirement experts, so they can ask the burning questions that confuse most retirees and pre-retirees.

Imagine if you could start retirement all over again. What questions would you ask an expert?

And if you’re yet to retire, what do you want to know?

On 2 June 2018, our first Retirement Bootcamp for the year will take place in Melbourne. Here, you’ll be able to ask experts about retirement income, Centrelink and Age Pension entitlements, estate planning and creating a watertight Will. You’ll receive information that will help you plan the retirement you want.

Also, as part of your ticket price, you’ll receive free access to the innovative RetirePlanner™ tool*, an online assistant that can help you calculate the amount of money you’ll need to live a lifestyle you can actually afford.

And, as we all know, travel is a big part of retirement – it’s your reward for all your hard work. At the Melbourne Retirement Bootcamp™, we’ll have cruise experts on hand to answer all your cruise questions and, perhaps even better, offer you exclusive discounts on a range of cruises.

So, what are you waiting for? Book your tickets now!

When: Saturday 2 June 2018, 11.30–12.30 for cruise expo and special offers. 1pm–5pm for Retirement Bootcamp™ Workshop Sessions

Price: $29.95 per ticket (or couples $49.95) includes both events, refreshments and showbags.

Location: Building K, Monash University Caulfield Campus, 900 Dandenong Rd, Caulfield East VIC 3145 (minutes from Caulfield Station). $10 all day parking available at Coles Supermarket in Dandenong Road.

*RetirePlanner™ tool (value RRP$19.95) free for early bird bookings only.

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    COMMENTS

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    22nd Mar 2018
    10:57am
    Well, Bootcamp is nice for those who need and can access it, but what we all should be lobbying for is reform of a system that is grossly unfair and economically unsustainable.
    Cowboy Jim
    22nd Mar 2018
    11:10am
    A sustainable system would easily be possible where everyone from
    age 18 puts a certain percentage into the fund and no-one can access it till 65 years of age. After that age there is a pension payable with
    no means and asset test. But after death there is no money available from that fund for children, money only available for survivors. Some people pay in 50 years and never get the benefit and others (like my Mum) gets the full pension for 33 years. The system works like that in Switzerland where she lives and you can still have your own super fund which is an asset to be passed on to the next generation. But one does not cancel the other like is the case here. The only concern you would have is taxation on the lot.
    Anonymous
    22nd Mar 2018
    1:12pm
    Taxation? No problem. It's a cost of living in a healthy society. Why everyone screams to eliminate it and seeks to avoid it is beyond me. I would be very happy to pay a fair price for a retirement system that works and doesn't punish people unfairly for saving if they can only achieve modest comfort.
    Hawkeye
    22nd Mar 2018
    4:36pm
    Cowboy Jim
    We already had a system much like you describe, until greedy politicians robbed the fund and put it all into consolidated revenue.

    If we grovel enough, they now give us a small fraction of the pension we have paid for, and call it a welfare hand-out, for which we should be ever grateful.

    Then they have the gall to treat us as if the country can't afford to keep feeding us.

    Oh to have access to the perks of a politician.
    They are living proof that (as in George Orwell's Animal Farm) "All animals are equal, but some animals are more equal than others."
    VeryCaringBigBear
    22nd Mar 2018
    5:47pm
    If you want to live well in retirement it us up to you not society to provide for it.
    VeryCaringBigBear
    22nd Mar 2018
    5:50pm
    Why change the retirement system we already have? If you plan and play by the rules it rewards one very well in retirement.
    Cowboy Jim
    22nd Mar 2018
    10:59am
    Can recommend the Cruise Expo; if you have an query they will answer all your concerns. Been around the world several times on ships and if you have the time and specially your health do a spot of cruising, maybe start with short stints of 7 days in Aussie waters and later maybe NZ. Hardest part is the trip across the Tasman for motion sickness sufferers, but there are pills available called "Sealegs" which are a tremendous help.
    VeryCaringBigBear
    22nd Mar 2018
    5:55pm
    I went on a cruise once and it was one of the worst experiences I ever had. No matter where you sat it was always someone else's chair. You had to line up like sheep to get meals and get off ship. People do such stupid things like standing in queues until they collapse. It was certainly a good way to lose weight as the food was cold and unbeatable. Some of the corridors smelt if sewerage. I doubt you will be told any 9f this at the expo.
    inextratime
    22nd Mar 2018
    9:47pm
    Good on you VCBB. I expect you were head prefect at school, top of the class, brilliant at your job and a perfect citizen. Unfortunately life ain't like that for everyone, believe it or not. Please don't lecture on how to be perfect. I know many people who have lost parents, kids, their jobs, do I need to go on ? Unfortunately life is not the same for everyone so please don't beat your chest and pontificate on how the world should be according to VCBB.
    VeryCaringBigBear
    23rd Mar 2018
    8:11am
    You are right I don't except crap from anyone and neither should you. People should not be rounded up like sheep and treated like sheep either.

    I have lost all those things and many more but that's like. Accepting crap is not.

    I actually did badly at school but most people who achieve in life do as school is such a crapping boring system in itself. School takes imaginative little kids and turns them into factory workers unless they rebel. Not many rebel so it's no wonder people just accept things in life that shouldn't.

    Don't forget cruising exploits people who are from countries less fortunate that Australia so you have to ask yourself should you be cruising which further exploits these people. Cruise companies in Australian waters should be required to employ Aussies instead.

    It would be a much better world if people looked after themselves instead of just expecting society to do so instead.
    AutumnOz
    22nd Mar 2018
    11:23am
    The fact that most people are confused by the rules and regulations for the age pension, general and health insurance etc. proves each of the rules and regulations ARE too complicated and designed to confuse everyone not just old age pensioners.
    The Boot Camp is a great idea but its existence also reinforces the need for simplifying the existing rules and regulations so everyone can understand them easily without having to spend money on accountants and the boot camp to explain pension regulations.
    VeryCaringBigBear
    23rd Mar 2018
    8:17am
    Rules are not complicated at all. People are just too lazy and fail to understand what they are getting themselves into as it is so easy to and too stupid to ask questions these days.

    Boot camp would be a good idea if it showed people that they should learn the rules and then play the game according to the rules. If rules ain't fair then you simply don't play. I went to a Casino once and when I knew the rules I told them that the odds were stacked too far in favour of the house for me but hundreds played anyway. I just shook my head at all those stupid people.
    johnp
    22nd Mar 2018
    1:00pm
    When is the next bootcamp in brisbane ??
    leonYLC
    22nd Mar 2018
    2:33pm
    Hi Johnp,
    We are taking expressions of interest in bringing the Bootcamp to other capital cities. Please email your interest to newsletters@yourlifechoices.com.au
    LeonYLC
    Mootnell
    22nd Mar 2018
    1:44pm
    Would be nice if these training forums were held in a couple of SA regional areas. Not all of us can afford to travel.
    leonYLC
    22nd Mar 2018
    2:28pm
    Hi Mootnell,
    We will be videoing our next Bootcamp and will feature footage in articles on the website. Keep an eye on your inbox in the next couple of months.
    LeonYLC
    Hawkeye
    22nd Mar 2018
    4:12pm
    Mootnell, surely you jest.
    Even the SA government have forgotten that SA has regional areas.
    I'm waiting for the bootcamp to come to Balaklava.
    Charlie
    22nd Mar 2018
    2:39pm
    If you have enough money, not to really need age pension, then it starts to get complicated.
    johnboy
    22nd Mar 2018
    4:40pm
    Just like to say that my pension was $105 this fortnight less $10 I am paying back an overpayment of $170. ( honest mistake).My wife earned $ over the threshold. So my payment is reduced. So she is made to carry me.Now that is not fair. And it makes me feel bad that I have to let her.
    GrayComputing
    22nd Mar 2018
    5:32pm
    A pension is not welfare.
    NO ASSET TEST FOR A PENSION EVERV AGAIN!
    For your retirement do you really look forward and want 100++ visits to/from Centrelink and be part of 3 million waiting queues and lost calls?
    Do some of you like being part of the abuse of the elderly? If so get your head examined for saw dust.
    Call your MP (yes the very same one who lets this Centrelink abuse happen at taxpayers expense) and tell then they will lose their job unless all asset tests for a pension are dropped
    Most economist say we will save taxpayers money by dropping asset testing because of the massive overheads cost in running Centrelink and the 10,000 conflicting rules
    NO ASSET TEST FOR A PENSION EVER AGAIN!
    Call your MP (yes the very same one who lets this Centrelink abuse happen at taxpayers expense) and tell then they will lose their job unless all asset tests for a pension are dropped
    NO ASSET TEST FOR A PENSION EVER AGAIN!
    VeryCaringBigBear
    22nd Mar 2018
    5:39pm
    The old age pension is welfare and I feel privileged to be on welfare myself. Nothing so wrong with assets test at all. Too many assets and you can look after yourself and too little assets you get welfare. All it takes is a bit of forward planning and you will live like a king on the old age pension.
    johnboy
    22nd Mar 2018
    6:15pm
    The pension is called welfare for us poor buggars.But if your a politician then its called entitlement.And a very good one at that.
    VeryCaringBigBear
    25th Mar 2018
    7:10am
    That's correct the old age pension is welfare but a pollie receives his pension as an entitlement as part of his job package just like he would in private enterprise. If you think otherwise then your are kidding yourself.
    VeryCaringBigBear
    22nd Mar 2018
    5:35pm
    Nothing complicated about the old age pension at all. Just learn the rules and play the game. Monopoly is far more complicated.
    inextratime
    22nd Mar 2018
    9:52pm
    Good on yer VCBB. Great advice. Except life is not the same for everyone and it maybe time you started to look outside the tunnelled vision that you seem so comfortable with
    .
    VeryCaringBigBear
    23rd Mar 2018
    8:20am
    The rules are the same for everyone but some are too lazy and stupid to learn them to play the game. That is where the tunnel vision lies.
    johnboy
    25th Mar 2018
    8:09am
    vERYCARINGBIGBEAR, I DID SAVE FOR MY RETIREMENT, when I RETIRED AT 48 DUE TO ILL HEALTH I HAD $180,000 SUPER THANK YOU. like YOU I DID NOT NEED TO SPEND MUCH OF ITAND WAS DOING QUITE WELL FOR 10 YEARS ,UNTILL THE CRASH,THEN SOME OTHER PERSONAL THINGS CAME UP. Over THE NEXT 8 YEARS IT SLOWLY GOT EATEN UP. You HAVE NO IDEA OF MY SITUATION VCBB SO PLEASE BE CAREFUL OF WHAT YOU SAY. And now I have none left, and only receive a very small pension because my wife works. If you are married then send your wife to work and you will receive a greatly reduced pension as well. See if you like that. And another thing , If the plolies pension is part of there work package and is classed as an entitlement then why is mine called welfare. I worked from age 15 until age 49 in the same company. 34 years in the same hard labouring job. And payed a lot of tax as well.
    VeryCaringBigBear
    25th Mar 2018
    1:59pm
    Your pension was not part of your work package and you only get it like me because you now have no other means to support yourself so like me you get welfare. We all have health issues as we are all human and that is just part of living and aging. Welfare has nothing to do with how long you worked, how much you earned or how many cats and dogs you have. It is based on your assets and income when you apply. As I am noiw under the asset and income threshold I too get welfare. My partner (one has to be politically correct now and not use gender related words) has not worked since our eldest child was born and we don't need any more income so it would be a silly move sending them out to work. Besides they like me wouldn't have time to work.
    Argydubbaya
    23rd Mar 2018
    9:36am
    If the retirement rules were set up like Monopoly we would know exactly our entitlements. Perhaps VeryCaringBigBear might like to list, in general terms, those rules to show us all how smart he is?
    The "grey" areas in retirement rules make boot camps a necessity. We don't need boot camps to learn Monopoly.
    VeryCaringBigBear
    25th Mar 2018
    2:05pm
    What grey areas? I haven't found any myself so I can't list them. I value my car and caravan at what I could sell it for today as that is what market value means, My furniture is valued at $2000 as the second hard man would need his arm twisted even to give me that much. My walls are covered in original art works belonging to my daughter so they have no value to me. Other than that I have nothing of value other than my fully franked equities and a bit of cash.

    Where are the grey areas?
    Argydubbaya
    23rd Mar 2018
    9:54am
    What a fkg mess governments have made of OUR money. We all would have been better off putting 6% of our earnings under our mattress for all of our working lives instead of trusting a fickle government to look after it until we were to old and frail to argue "where is my entitlement?" To Bring back a cash society now would instantly put more value into our cash. Governments need to get the fk out of the market place and stop giving favours to cronies and big business.
    johnboy
    23rd Mar 2018
    11:36am
    nothing will ever change,its been the same through out history, those in power kick the guts out of the so called lower class, all we can do is sit back and take it. Politicians are all the same, in it for money and glory. Its no good complaining Argydubbaya wont do any good. Try and relax and think of all the good things in life and remember most of the best things in life are free, don't smoke, drink or gamble, if you own your home you should live well on our pension, That is if you are lucky enough to get it all, some don't.
    VeryCaringBigBear
    25th Mar 2018
    7:13am
    Why didn't you save for your retirement? I did but when I got there I found out I didn't need it so spent what I could and gave the rest away. You can't get a better system than that.
    Argydubbaya
    23rd Mar 2018
    10:00am
    I realise also TANSTAAFL (There Ain't No Such Thing As A Free Lunch) however I paid for my lunch and a politician or a crony is eating it.
    VeryCaringBigBear
    25th Mar 2018
    7:13am
    I paid for my lunch too and now my family is helping me eat it.
    SuziJ
    23rd Mar 2018
    10:54am
    It's easy for me - I have no super, home or savings. The only things I actually own are my 12 year old car and household goods. Just going straight from the full DSP to the full Age Pension - the only thing that's different is the 3 little letters on the bottom of my Pension Card :)
    Seenitall
    24th Mar 2018
    4:41am
    The NZ age pension is not means tested and I believe is almost as much as the full OAP here.How can a little country with not a lot in the way of natural resources except its people, hydro power electricity and innovative farming practices afford this? I would suspect that their tax rates are higher and slanted towards making the rich pay their fair share and the NZ Govt. works on the principal that if you have a high post retirement non pension income it would claw back most of what it pays you in non means tested pension as income tax.
    How many people would Centrelink employ administering all the forms of means testing here?Many thousands I would suspect.
    The whole taxation/welfare system needs to be restructured from the archaic mess and political football it has become.
    Pendrey
    6th Jun 2018
    10:22am
    The pension should be paid on an individual basis. Centrelink should not have to bother people as to their living arrangements. This would encourage more people to live together. Two individuals are $11k per annum better off than a couple under the present arrangements. Does an employer pay you differently if you are partnered or not?


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