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Retirees call on politicians to stop changing super
It seems retirees have had enough of politicians constantly moving the goal posts when it comes to their retirement, with the Association of Independent Retirees releasing its election policy priorities, which predominantly call on all political parties to stop causing anxiety for retirees by changing the rules of superannuation, tax and concessions on retirement incomes.
Wayne Strandquist, acting president of the Association, said with just under two million retirees who partly or fully self-funded their retirement, the greater majority were not wealthy, and found it difficult to make ends meet in the current climate.
“All retirees, who partly or fully fund their retirement, seek is a fair go and some independence in managing their lives, their health, and their retirement savings”, Strandquist said.
Among its proposed policies, the Association called for no more fiddling with superannuation and retirement savings and to reduce the minimum superannuation drawdown percentage for those over 75.
As well, it proposed that self-employed workers or those with no superannuation should be able to transfer a capped value of their assets to superannuation with capital gains tax exemption.
It also refuted Labor’s proposed changes to negative gearing and called for the retainment of existing negative gearing arrangements on pre-owned investment properties.
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Speaking to Super Review, the $70 billion fund has unveiled its new solution to address the ‘cognitive load’ of retirement as members enter their golden years.
New research has suggested it’s time to reconsider the home as a fourth pillar of the retirement income system, alongside the age pension, superannuation, and voluntary private savings.
New research has revealed over 60 per cent of retirees believe their super fund offers retirement income products suitable to support their retirement lifestyle.
Some retirees are “needlessly” paying two sets of fees and often more tax than they need to, according to the industry body.
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