Australian Baby Boomers are finding it more difficult to manage their funds with challenging Newstart unemployment benefits.
More and more people over the age of 55, who are currently receiving the Centrelink allowance are struggling to get by on the minimal funds, the ABC reports.
In a segment broadcast on ABC‘s 7.30 on Tuesday night, it was revealed just how little Baby Boomers are entitled to, with some receiving a mere $50 a day.
Speaking about her struggles on the program, 60-year-old Liz Clifford said she has been forced to sell her and her late husbands house as she couldn’t afford repayments.
Explaining how she lost her husband to cancer, her job and now her home in the past five years, Clifford said she is “very disappointed with life”.
“I feel a little bit insulted and I feel like I’ve been punished for being unemployed,” she told the ABC.
Trying to keep up with the expensive and never ending bills, Clifford said on the program that all of her Newstart allowance is going straight to her credit card as she can’t secure a job.
“I know I’ve got a lot to offer, I’ve got a lot of skills and I’ve worked for a long time and I’m quite computer literate, but I think people just think, ‘She’ll be wanting to retire in a couple of years’ time, so it’s not worth taking her on’,” she explained.
Just last week changes were made to the Newstart allowance for older Australians with people between the ages of 30 and 64, who claim benefit expected to meet a new set of standards.
The Department of Human Services announced the reforms for “mature age jobseekers” earlier this year and the main changes relate to the number of hours you are required to spend either in paid work or volunteering in order to receive the fortnightly payments.
If you’re aged between 55 and 59 then your mutual obligation requirement hours will remain at 30 hours per fortnight, however, you will not be able to rely on volunteering alone to meet this quota, as at least 15 hours must be spent doing paid work.
The Annual Activity Requirement hours have also increased to 50 hours per fortnight for those between the ages of 30 and 49.
While jobseekers who are over the age of 60, but below Age Pension age, will now have an Annual Activity Requirement of 10 hours per fortnight, which can be met through voluntary work.