Page 4 - NSW Senior Scene - 2022
P. 4

PAGE 4                                                                                                                  
       Retirees seek extension of

                 super drawdown relief

                 etirees welcome the                                                                                     “We commend the Government’s
                 recent passing of leg-                                                                                 action in addressing the historical
      “Rislation             in    Federal                                                                              exclusion of superannuation pay-
       Parliament that provides more                                                                                    ments  for  workers  earning  less
       flexibility  for  retirees  to  make                                                                             than $450 per month, and we have
       non-concessional contributions to                                                                                made further recommendations to
       superannuation,” said Mr. Wayne                                                                                  provide additional opportunities
       Strandquist, National President                                                                                  for workers approaching retire-
       of the Association of Independent                                                                                ment with low superannuation
       Retirees.                                                                                                        balances to increase their contribu-
        “This     legislation     package                                                                               tions. These are important equity
       included the abolition of the work                                                                               measures  that  will  help  women,
       test for non-concessional con-                                                                                   in particular, build their retire-
       tributions for up to age 75 and                                                                                  ment savings,” Mr. Strandquist
       reducing the eligibility age from                                                                                explained.
       age 65 to 60 for downsizer contri-                                                                                “The Association  acknowledges
       butions into superannuation,” said                                                                               that  the  Government  has  made
       Mr Strandquist,  “These improve-                                                                                 some improvements to the quality
       ments will enable retirees and                                                                                   and safety of  Aged Care follow-
       those approaching retirement who                                                                                 ing the Royal Commission report,
       were working before compulsory                                                                                   and has plans to make significant
       superannuation was introduced                                                                                    reforms. However, we recommend
       to build their balances to fund an                                                                               that  consideration  be  given  to
       adequate retirement income”, Mr.                                                                                 expediting these efforts and imple-
       Strandquist explained.               provide a retirement income  Retirees has made a number of rec- menting transitional measures as
        “The Association of Independent  strategy for their members”, Mr.  ommendations that address ade- soon as possible to improve the
       Retirees also welcomes the pass- Strandquist added.                        quacy, equity and financial literacy  capacity, quality and safety of
       ing of the Retirement Income           “In   this   year’s    Pre-Budget issues raised in the Retirement  residential  aged  care  and  home
       Covenant legislation to ensure  Submission to the Government,  Income Review report,” said Mr.  care services”, Mr Strandquist
       that large superannuation funds  the  Association of Independent  Strandquist.                                   concluded.
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        BLACK DIAMOND SERVICES                                                                                      0432 268 724

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                                 YES! We do small jobs & pick ups                                                                                          ssmsyd18000
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