Ageing Implications For Pensions of the Future

For the first time in history, it seems we have more people over 50 than children under five.

With our extended and healthier life spans these days, it is clear that, economically, those of us who can, will need to work longer and so demand less on Government pensions.

The pressure on public pension funding, from a smaller working base of tax payers, will eventually lead to many changes such as deeper means testing, including greater scrutiny on our total assets.

With a set retirement age, we just don’t over-night, become non productive in the workspace.

This is a very complex matter, and your comments and ideas would be welcome…

3 thoughts on “Ageing Implications For Pensions of the Future

  1. Three main comments on this one.

    1) When compulsory super came in the government sold it as a means to give us independence in retirement without being reliant on Age Pension. I can never understand why this money was not restricted to be used as a pension instead of as a ‘term investment’ to be spent as soon as available. Also there should have been just the one super fund for everyone. As it is many people have in fact lost all the money that was put into funds by way of fees and poor investment.

    2) Though many continue to live in good health past the set retirement age it is a fact of life that parts do wear out at various ages and also that ‘chickens come home to roost’ for people who have made poor lifestyle choices. This impacts in various ways upon ability to continue working.

    3) Losing a job or becoming retrenched once past 50 yrs old (let alone 65) gives little hope of a return to the workforce simply because employers (often wrongly) will choose younger employees. It would be different if there was full employment but it is increasingly unlikely that will ever occur again.

  2. I used to answer most of Rays editorials,now not so much,but I always read and respect his efforts,Now anything to do with the blaming of the elderly for all the problems of Govt gets my hackles up ,so my first thought is that if the national fund that was stolen by government was to be replaced ,yep the full amount of ,(if memory serves was 75 billion) plus interest of course,we oldies and the others who need help would no longer be a problem and they could concentrate on the rest of the companies ,the cheats and the corrupt Including the till ticklers among themselves instead
    I may be old but I can dream can’t I ?

    • Bang on Dusty! Pauline Hansen is the one person in government who will admit that Menzies stole the Pension fund in 1950 which was set up way back and it did have heaps of money in it – and today they still get 7% or 7.5% cant remember which but it never got repealed with the ACT. So anyone who has worked paid income tax has paid towards their age pension. t
      What annoys me is that those who came and never worked a day or paid into anything just take take take even working the system on carers pension etc with daughters looking after kids galore which is why its so very wrong. Come and break the law by having more than 1 wife but we then pay them for 1 and the other 3 are paid single mothers pension all get a house and he has one for the kids on weekends like our divorced dads do. And once they get paid the pension back they go. Leaving offspring here until they repeat – are we slow learners or what? Proof being Julia G sending a boat to Lebanon when civil war broke out once again to bring back “Aussie” citizens to safety at home.
      Who are back. OK some of us go to live in Cyprus or Europe but these have worked and paid into the pension and their offspring working not trying for carers pensions to look after the many children having more than 1 wife bring.

      And we Seniors born here or migrated, worked and paid our taxes and got a pension or super or just planned for retirement and yet are always blamed for the high cost of “welfare”
      It ain’t ‘welfare” when we paid in for our age pension and may not even draw down on it but paid anyway and dont mind those others of our generation who are getting it as they too worked. Migrants from everywhere work or worked Mainly. Sadly its those we have taken in as refugees who have and still are rorting the system as well as terrorizing all Australians – killing far to many and even then do we hang them as once did? No because the 1st thing Greens did in 1960’s on start to implement the plan of UN taking over governance of the world was ban Death Penalty as it would and has, caused Justice to weaken and chaos to start up as planned.Not forgetting sending the western nations refugees who can never assimilate under Sharia Law which dictates how they must live and if disobey are then subject to Death. So cannot swear to obey any Law at all -therefore cannot take on citizenship of any Western Nation without lying.

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