The first year’s gross cost of $42 million, which will compound, is a little more than one tenth of one per cent of the 2007/08 budget surplus. There will be indisputable clawback of approximately 40% due to increased income tax and GST collections and a reduction in Age Pension expenditure. Due to their low superannuation [...]
by Consie Larmour
The Matthews Report
On 26 June 2008 the Minister for Superannuation and Corporate Law, Senator the Hon Nick Sherry, announced the implementation of the 2007 ALP election commitment to review the indexation arrangements for Australian Government superannuation pensions.
This review was necessary because the Howard Government and the Department of Finance would not make available relevant actuarial costings.
The review [...]
Campaign background for pension indexation
Pension Indexation Campaign
What is this campaign about?
Commonwealth superannuation pensioners, (former Commonwealth public servants and former Defence Force personnel) have their superannuation pensions indexed by the CPI, an indexation tool abandoned more than a decade ago for other Government funded pensions.
This issue affects almost 350,000 senior Australians whose average pension is now less than the [...]
