What will the Government do about our pensions? The very real problem Australia is facing

With the good news, there always comes some bad and today’s figures from the Australian Bureau of Statistics are truly

With the good news, there always comes some bad and today’s figures from the Australian Bureau of Statistics are truly a double edged sword, especially for pensioners.

Life expectancy has hit an historic high – Aussie males and females born today have the highest estimated life expectancy ever recorded in Australia. Both men and women can expect to celebrate their 80th birthday.

According to Beidar Cho from the ABS, “There are only six other countries worldwide where both men and women have a life expectancy over 80 years – Japan, Italy, Switzerland, Iceland, Israel and Sweden”.

“Australia has a higher life expectancy, at both the male and female level, than many similar countries to ours, such as New Zealand, the United Kingdom and the United States of America”.

In Australia, male life expectancy at birth rose to 80.3 years in 2014 from 80.1 in 2013 and female life expectancy also increased to 84.4 years from 84.3.

“The two territories tell contrasting stories about mortality in Australia,” said Ms Cho. “In 2014, the Australian Capital Territory had the highest life expectancy for both males and females while the Northern Territory had the lowest.”

The national number of registered deaths rose 4.0 per cent to 153,580 in 2014 from 147,678 in 2013 and is shows Australia’s growing and ageing population. But with this news that we’re living longer, it leads to the question of pensions and how they will be sustained far into the future. New pensioners in 2015 have 15+ more years reliance on the pension, yet the message their hearing is that people should not rely on welfare and that they should head back to work.

Experts are already warning that an increasingly ageing population means the elderly will have less money to spare for children and grandchildren, but mainly just living day by day.

  1. Pensioners should be treated with respect and not portrayed as “silly old farts” who are a burden on society and cause the budget to be out of balance.

  2. the government keeps going on about not having enough future pensions but dont have a problem funding so called refugees or foreign aid

  3. One of the things we might see in the future is strategies to reduce the number of pensioners. E.g. Making them work longer (assuming there are actually jobs out there for them), or, culling their numbers by making ongoing health care unaffordable, or even by changing the current legislation to allow medically assisted suicide.

  4. Anonymous  

    There are always dire warnings about money running out for pensions but never about money running out for welfare. There are generations of families who have been on welfare and never paid one cent in tax while the majority of pensioners would have worked and paid tax for 40 to 50 years.

    • Aged pensions are welfare. You might not like to think of them as that, but that’s exactly what they are.

      • Unfortunately a lot off aged pensioners started working before super came in . Also some lost their super before they reached retirement . Also these pensioners have paid tax all their lives and are entitled under the pension system to receive a pension . A pension is not being on welfare but an entitlement for a lot of us

    • we only have one option and that is to vote them out, this an ongoing for the last 2 years.. just get rid of them

  5. The government should close the tax loop holes that allow the wealthy to get out of their obligations and pay the tax that they should. They should also tighten laws that allow overseas companies to take all their profits out of Australia and pay no tax on them.

    • Agreed, Annette, but there’s a certain amount of self-interest here. The pollies don’t want to restrict their own lurks.

    • they can do a whole lot more to cull the pensioners and to judge by the comments posted on over 60 most will still vote for their own demise amazing

    • Deidre Fagg Yes, and private church schools. Many dont allow different religions to enrol and still get funded by the govt.

    • Agree completely.
      Can we get over 60 to write a petition on our behalf?
      Then relay it to everyone we know to sign and send it to Mr T. ?

    • i agree with annette,the big overseas companies should certainly pay taxes, especially those that cause environtmental damage.

  6. respect pensioners more,they are not the problem with the economy!!!

    • I agree the pensioners are not the problem as most have paid tax for fifty odd years or more . It’s the drain on our economy of these refugees the lawyers who get paid by the taxpayer to help non citizens . The large amounts paid to keep them in detention .

  7. Like everything else. Our Politicians have mismanaged the economy where it has got to a point of no return. We will have to start saving and looking after our own futures. Parents and pensioners have to realise that they have to manage and look after themselves and no longer scrimp so that their children can inherit from them, or splurge on their grandchildren. We can no longer rely on our Politicians to look after the elderly or pensioners. They are too concerned with International aid and enabling the dole bludgers and those on welfare some of whom have never worked a day in their lives. Stop propping up couples with children and giving child allowances etc. Our aged deserve to be taken care of as they get frailer and cannot work or supplement savings they may have had. Time to get their priorities right.

  8. The government are the biggest bullies they attack for those who cant fight back, can the potato board and you will save thousands of waste d dollars.

    • Ugly comment, by the look of your name you’re background is immigrant – always the greatest critics

    • Kerry Rose. But the immigrants back then didn’t get any lurks whatsoever. They lived or died by their own toil. Today’s refugees are totally different. The government is bending over backwards for them.

    • Kerry Ross, she is right, the government is seen to care more for the refugees than there own pensioners.

  9. Gov’ts did start addressing this future problem some years ago when compulsory superannuation was brought in. This needs to increase as a compulsory saving towards retirement by all workers. Most of the present retirees did not have the benefit of that which is why so many are pension dependent. In the future one would hope that most retirees would be either totally super-reliant or would need only a small top up from the age pension.

    • Agree. The only way future retirees are going to be independent is if they increase the amount they (or their employer) are paying into super. The problem with the proliferation of casual and contractor jobs, is that many have next to no super.

    • Rob Mcgrath – Indeed. The super guarantee, as I understand it, only has to be paid above a certain monthly threshold for each employer and while contract rates should have the super component built in there is no requirement that it be paid into a super fund. A lot of tidying up to be done but a compulsory saving for retirement is the way to go.

    • Well, they are already moving on pensions. With the new rules coming in on January 1, anyone who has a Defined Benefits Super scheme will be worse off. Letters have been issued by Centrelink in last couple of weeks. Two cases I know of mean that people are losing $100 and $200 a week from their part Aged pension. How fair is that when people rely on the rules not being changed and there isn’t much chance of increasing their income?

  10. Well folks this is a drawn out political issue which has been coming for a long time. Hopefully this G will address it, and if not we will find the next generation will secome to nothing for them, like we are going into as of today.

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