Page 10 - Senior Scene Sydney St George 2021

PAGE 10 www.seniorsbook.com.au
COVID-19 Year reveals

resilience of older people

Source: www.cotansw.com.au/information/news/item/covid-19-year-reveals-resilience-of-older-people/

ecent research by COTA “My wife started a Facebook group also concerned about shopping to limit their activities more than
NSW has revealed that many with the other ladies from her and getting essential supplies and others to protect their own health.
Rolder people were resilient bowling club, which probably has feeling isolated. In fact, people in the 50-59 group
in the face of reduced social activ- an average age of around 74. She The sudden ceasing of volun- were much more likely to identify
ity during COVID-19 restrictions, helped them to learn new technol- teering activities had a significant negative emotions than older age
and were inventive in finding new ogy and buy computers.” impact, with 60% of respondents groups, possibly due to increased
ways to address their needs. Older people appreciated the undertaking some form of vol- financial, family and work respon-
The broad-ranging survey of peo- community projects and infor- unteering prior to the pandemic. sibilities and the fear of losing
ple aged over 50 looked at how the mal arrangements for checking in Volunteering provides connection, their job. They may also have been
restrictions affected older people. to see they were okay. They also meaning and purpose for individu- more affected by social restric-
It revealed that there has been a enjoyed the opportunity to slow als, as well as being critical for the tions, whereas older groups have
significant increase in the use of down, actively enjoy nature, exer- operation of the non-profit sector. had time to adjust to retirement
technology to reduce isolation and cise more and pursue hobbies. Overall, about 20% of respon- and a smaller social circle.
loneliness. Many said that they became better dents said they felt anxious, Unemployed older people and
25% of respondents said their at living in the moment and “being depressed, isolated and/or lonely those receiving JobKeeper or
level of skill with technology had kind to yourself and others”. last year. These were more likely to Jobseeker also experienced more
increased during the pandemic. The main things that older peo- be people with a disability and/or negative emotions. Around 6% of
There was a marked increase in ple missed were contact with chronic disease and their carers, respondents had lost their jobs
the use of video calls and social immediate family and friends. who experienced decreased social because of COVID-19, with the
media. This was particularly the case for interaction with service providers highest proportion in the 50-59
One respondent reported that the older age groups. People were and social groups and also needed age group.
RETIREES WELCOME THE ‘YOUR FUTURE YOUR

SUPER’ REFORMS TO SUPERANNUATION

Source: www.independentretirees.com.au/images/PublicAccess/MediaReleases/2021-06-28_Retirees_Welcome_the_'Your_Future_Your_Super'_Reforms_to_Superannuation.pdf
he passing of legislation and lower fees can significantly the ability to prevent persistently that a new super account is not
that encourages super increase retirement incomes”, said underperforming super products automatically created each time
“Tfunds to improve invest- Mr Strandquist. from taking on new members”, a worker changes their employer.
ment performance, lower their “The ‘Your Super’ comparison explained Mr Strandquist. Your super account will follow
fees, increase member engage- tool will enable super fund mem- “The superannuation reforms you (also called stapling) thus pre-
ment and prevent duplicate super bers to compare the investment also increase accountability by venting the creation of unintended
accounts is welcomed by retir- performance and costs of their compelling superannuation trust- multiple super accounts with
ees,” said Mr Wayne Strandquist, fund and switch to a better per- ees to act in the best financial duplicate fees and insurance pre-
President of the Association of forming fund if appropriate”, added interests of their members and miums. With approximately 6 mil-
Independent Retirees. Mr Strandquist. increase transparency with better lion multiple super accounts in the
“With superannuation accumu- “Super funds will be bench- information about how they man- system and about 850,000 created
lating for at least 40 years of work- marked via an annual perfor- aged and spent members’ retire- every year, this reform is most
ing life and continuing for up to mance test including fees. If a fund ment savings during the previous welcome,” said Mr Strandquist.
30 years in retirement, even small fails the test, members of the fund year”, said Mr Strandquist.
gains in investment performance must be informed. APRA will have “The new legislation also ensures