Australians are good at accumulating savings for retirement but they are not so good at mapping out the best way to spend their savings once they retire.
Treasurer Jim Chalmers has used words with specific meanings in the objective he intends to legislate, among them “preserve”, “dignified”, “equitable” and “sustainable”.
Claire Dale, University of Auckland, Waipapa Taumata Rau
Old age poverty is looming for thousands of New Zealanders who are going into retirement without a house, without savings and facing high costs of living.
Australian retirees can keep stashing away more superannuation, unused, for another year, even though the crisis prompting the concession has passed. The big winners? Rich retirees and their kids.
Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.
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