POWERED BY MOMENTUM MEDIA
Follow the French on pension age, says CSPA
The Combined Superannuants and Pensioners Association (CSPA) has called on the Federal Government to implement a floating pension age.
"CPSA calls for a floating pension age to allow some people (such as those who completed manual labour jobs throughout their working lives) to obtain the age pension at an earlier age," said senior policy adviser Amelia Christie.
"This model has been successfully implemented in France and recognises that people's working lives have an impact on their health and well-being, as well as their employability later in life."
Last year, the French Government reduced the retirement age for workers who had contributed to their retirement savings for 41.5 years, older unemployed people and mothers with three or more children from 62 to 60.
The French Social Affairs Minister at the time, Marisol Touraine, said approximately 110,000 people would benefit this year, while the measure would cost 1.1 billion Euros. However, one year on, the Government is looking into further pension reforms in order to satisfy its European Union obligations to reduce spending.
Grattan Institute chief executive John Daley advised an Association of Superannuation Funds of Australia (ASFA) luncheon last month that the Government had only limited policy levers to impact on economic growth — but increasing the age pension age and restricting access to super were options.
Last year, National Seniors disputed the Grattan Institute's call to increase the pension age to 70, saying it was a distraction from the real issue of increasing the workforce participation rate of older Australians.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Governor Michele Bullock took a more hawkish stance on Tuesday, raising concerns over Donald Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
