$42 billion worth of relief from the Federal Government – and not a penny for pensioners? As we finalise this edition the Rudd Government’s Nation Building package has been announced – but where is the relief for those on the lowest income of all? The short answer is that there isn’t any.
Described as a Nation Building and Jobs plan, it sadly seems to overlook those who have already contributed heavily to nation building – and because of a lack of compulsory savings plans, educational opportunities, fragmented work history and/or carer obligations simply do not have enough independent income. The focus, instead, is strong on students, farmers and working families (whoever they are?) but no support is offered to those on Centrelink benefits. We all know the GFC (Global Financial Crisis) is taking its toll – but why should those with the least suffer the most? Today the Commonwealth Bank announced a $2 billion profit – hard to understand the banks are front of mind for government support, isn’t it?
Estimates from all western economies now indicate that ageing populations are both structural and long term – which means that temporary economic downturns can’t change the excellent long-term prospects for mature workers. This situation was the focal point of the Reinventing Retirement Asia conference in Singapore in early January. Kaye was lucky enough to attend and hear the views of various experts from around the world. They all were in general agreement that the value of the older worker has never been higher. Some governments are leading the charge (e.g. Singapore) with extensive programs to keep older workers supported both in the workplace and with training opportunities. Read some of the papers which were presented.
Why not have your say now in our Meeting Place.