Can boomers create the next boom? 479



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In his address to the National Press Club yesterday, Scott Morrison attempted to ease our minds about the welfare crisis and upcoming changes, but what he said about senior Australians was particularly interesting – could we create the next boom?

As Australia’s welfare bill continues to balloon to over $150 billion a year, Mr Morrison is recommending that the recent welfare report be passed as we are well overdue for an overhaul of our welfare system. One of his key points was that older Australians need to work longer and spend more so that Australia can have a strong economic future, because one in four of us over 60s are building wealth whilst on welfare and the government has had enough. But is that fair?

Over half of Australia’s age pensioners increase or maintain their assets and wealth in the first five years on the pension, according to Mr Morrison. He told the National Press Club, “The capital that senior Australians have tied up, if we were able to find sensible pragmatic ways to unlock it, is what can potentially drive a very different quality of life for Australians as they age”. Do you agree?

And ladies, if you were wondering why you should work into your 60s, Scott Morrison said that you should do it because it’s good for your families, your income and your support. It is clear that the main aim of the welfare overhaul is to get people into the workforce and off government benefits, and while that is understandable in some circumstances, i.e. families who do not have anyone working, but is it fair to ask our ageing population to push on past retirement age?

The Intergenerational Report is a mere few weeks away and in this, more will become clear about how an ageing population can be supported by fewer tax payers. Mr Morrison said that this would create a boom, which we over 60s will be responsible for. “We need to change culturally in how we approach older years if we want to create the opportunities that I think the nation can have from an ageing boom”, he said. He also mentioned that the idea to means test houses in the age pension was “dumb”.

What do you think? Do you think you should continue to work into your 60s for the benefit of your grandchildren and their children? Or do yu believe you should be able to retire when you want to?

Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. Give us a long do they want us working for? from cradle to grave? and where are all these jobs? digging ditches in Abbots Green army? They just don’t want to pay anyone a pension

  2. I would like to know where our politicians get their pension from. If the got just a normal pension would we not save a lot that way alone

    6 REPLY
    • It’s not just their pension. What about all the lurks and perks they still receive after leaving the political arena? If these were cut out I’m sure we’d be a lot better off as a country.

      1 REPLY
      • Is he serious! I’m already involved heavily in unpaid community work and at my age does he think that employers are going to chase me down to hire me ?? And physical work is a bit tricky now but I can manage my life if I go at my own pace these days ,’for goodness sake I have worked hard all my life mostly as an aged care nurse , when do we get a chance to actually rest before we go to the grave ? and I don’t know about anyone else but we are not in a position to live off any super because we had some unfortunate life situations and the pension is only just stretching to make ends meet and we certainly don’t live above our means , maybe we shouldn’t have rescued those last 2 dogs

    • Politicians make the rules that they should abide too as well. Maybe we dont need them as much as they need us lol

  3. So who is going to employ us.

    1 REPLY
    • Well, I have just got a new job, out in Normanton, NW Queensland, hot out here but a great job, I’ll do it for as long as I’m able, I’m 68. Unfortunately, with no super I find it difficult to live on OAP, with a mortgage. Hopefully, even one year will make a difference to my life.

  4. As I read this, I can see the faces of a not small number of family and friends who died before they made it to the ever increasing ‘pension age’ and I feel a profound sadness

  5. An interesting topic, I do wonder where the jobs are supposed to be or come from, they are finding it hard to find work for the younger generation, so another pie in the sky idea. Most of our industries have vacated overseas even our food we can’ bye

    4 REPLY
    • Last I heard, 150,000 job vacancies and 750,000 unemployed and now they expect more employment, in their dreams I say..

    • Too decrepid to be on my feet all day now, the young should be doing the manual labour now….can’t keep up with what I used to do anymore….like to see them do what we did.

    • You are so right Kate, this generation have no idea what hard work is, everything has to be handed to them on a plate, so please leave the over sixties too enjoy there twilight years in peace.

  6. Where are the job’s…….No-one employ’s anyone over a certain age these day’s!

    2 REPLY
    • I am glad to hear that…..Hang on to it for as long as you can!

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      • Worked since I was 16 till I was 69. Worked for 5 yrs over my pension age and they didn’t even pay me all of my 4yrs Pension Bonus. Had patients injure me ( no machinical lifters in my day) fall on me, hit me, spit on me, push me over, kick me etc. no benefits or Centrelink to help me in disastrous situations then either. No grand holidays. Just work. Worked my service leaves. Pain is my mate but I deal with it. Thank god I’m healthy. Please let me complete my bucket list before I keel over is all I ask from these people who think they have all the answers to world problems.

  7. How much more do you want from baby boomers, they have done more for their children and grand children then any past generations.
    Do you want them to work until they drop dead, only then will everyone be happy. Don’t blame boomers for the incompetence of past governments and wasteful spending of the mining boom.

  8. Wow. Boomers kept Australia going for decades. Now we are asked to do more. Why? Can’t the next generation cope?

    3 REPLY
    • Too many druggies, mentally affected, is part of the problem, I’m sure.
      The MASSIVE drain on our health system and sickness/disability pensions, gaols, courts, etc., due to drugs of all kinds, is ASTOUNDING!

      Add to that our lack of manufacturing industries
      and there’s your recipe for disaster!

      Then add the food debacle – more suspect food from overseas! We used to have much higher employment in the food industry. Better quality control, too. We shouldn’t have to import so much food and my blood boils when I read that farmers were destroying perfectly healthy fruit trees, as we’re importing the same fruit from other countries, APPARENTLY cheaper.

      So, a most complex problem, all round, and NOT to be blamed on the majority of elderly/retired people, many of whom were never offered superannuation in their earlier working lives – if at all – but were told that part of their taxes was being put aside to cover their aged pension upon retirement. Then, if I remember correctly being told, years ago the government of the day decided, instead of keeping the pension fund separate, lumped it all under revenue! (In terms of investment, I can’t say if this was good or bad, but many do feel that it made it hard to ascertain just how robust was this pension fund and how much may have been squandered under revenue, when one looks at the Desal. Plant and Myki!)

      I have always worried that we depend TOO MUCH upon the hospitality sector to boost our coffers. It’s wonderful to have, of course, but is the first thing to suffer if times get really tough! And tough they seem to be heading.

  9. One day when our government realise as a civilised and progressive society the aged are entitled to and deserve at least a basic pension , who are these wonders that increase their wealth and assets while taking money from the government . Wakey wakey ! That’s not the real world . That’s the world created by greedy politicians , lining their own pockets at the publics expense and blaming all and sundry for all the economic woes

    5 REPLY
    • Actually I have known a few people who own their own homes that have saved money while on the pension, I suppose it depends on the person themselves, but you have to own your own home to even have a chance.

    • heard on the news Turnbull has the numbers for another Morrison may not even be in the Cabinet next week !!

    • Mike here-had abbott have stuck to his word we would by now have had a double dissolution, he said that rather than deal with minor parties he would DD. Also it is not the job of the voters to select the leader, that is done by all his mates.


    6 REPLY
    • Mike here-now, now, now. You should know that the remunerations we make to keep our glitterati in polliement house is set by an independent body, a body whose decision is irrevocable, a body whose abilities to work out the levels of remuneration required to keep the skilled people we have in polliement are exemplary.

    • Mike here-then back in the real world the polliementary remunerations tribunal probably have their remuneration set by the pollies.

  11. Well, the government isn’t going to unlock my money! We payed taxes,Medicare,Gst,stamp duties, university fees, school fees and I don’t know what else throughout our working life and now the politicians begrudge us our very small part pension ? Maybe it’s time to get some intelligent people into government who know how to run an economy!

    2 REPLY
  12. this Government are total rat bags leave all pension alone young people do need to work but theres no jobs for them and other people are losing there jobs think government needs to go back to the drawing board again on this

    1 REPLY

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