Seniors' Verdict: Rudd's First Year "tumultuous", Australia

Main Category: Seniors / Aging
Article Date: 26 Nov 2008 - 1:00 PDT

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Kevin Rudd's first year, in which seniors were bitterly pitted against government in their calls to raise the single Age Pension, has ended on a high for pensioners. However, self funded retirees and older workers, hit by the economic downturn, are preparing for a rough 2009.

That's the verdict from older Australians who'll benefit from the Rudd government's $10.4 billion economic stimulus package in the form of generous one-off bonus payments on December 8.

The bonuses are seen as an interim measure for single age pensioners struggling under the weight of rising living costs before a longer term increase is announced in the 2009 budget.

"In terms of older Australians, Rudd's first year could only be described as tumultuous," says National Seniors Australia chairman, Everald Compton.

"For the first time ever, pensioners, previously defined by their stoicism, found themselves drowning in the tide of rising food and fuel prices and demanded to be heard".

"It stirred an unprecedented mood of civil unrest amongst seniors. Grannies stripping down and protesting in the street was something Australia had never seen before," said Compton.

Now, at the end of Rudd's first year, as economic conditions tighten, focus has shifted from pensioners to self-funded retirees and people nearing retirement.

Chief executive, Michael O'Neill, says sharemarket slumps have come as a blow.

"Significant superannuation losses mean older Australians are being forced to delay or rethink their retirement plans. Others are attempting to return to the workforce. Most are battening down the hatches and preparing to ride out the storm," says O'Neill.

"At the moment, with the Rudd government taking a pro-active approach to the crisis, seniors have faith that, given time, investment performances will improve. Until then, we're prepared to do our bit along with the rest of the population".

"National Seniors is satisfied with the interim bonus payments and is working through the Harmer Pension Review to ensure a fair and sustainable pension over the longer term. In 2009, we also expect to work closely with the government in implementing the recommendations of National Seniors' ageing blueprint, AdvantAGE Australia," he said.

Older Australians will be seeking practical funding solutions from the government in the areas of health and aged care which are struggling under the weight of growing demand.

They will also maintain calls for the creation of a level playing field for mature age workers including those who choose to work beyond pension age (65). Reforms include extending workers compensation and the superannuation guarantee to employees aged over 70.

The over-50s comprise 40 percent of the voting public and hold considerable sway in marginal seats.

With almost 300,000 members, National Seniors is the consumer lobby for Australians aged 50 and over. It is the fourth largest group of its kind in the world.

National Seniors

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