The ACTU welcomes Labor’s new goal to lift retirement incomes up to a minimum of 65% of pre-retirement income at age 65.
ACTU Secretary Greg Combet said:
“This is a visionary policy that will ensure working people have a decent standard of living in retirement.”
“Labor’s plans to cut taxes and ban excessive fees on superannuation will provide greater retirement security for low and middle income Australians and help deliver on the vision.”
“In particular, Labor’s commitment to reduce the superannuation contributions tax from 15% to 13% and hold down fees and charges will provide real help for millions of working Australians as they save for retirement.”
“Labor Leader Mark Latham has also acknowledged the importance of lifting the effective level of superannuation contributions to the 15% level originally planned by the Keating Government.”
“The ACTU agrees that reaching a 15% target is the key to achieving the goal of ’65 at 65′ in the longer tem and is open to options on how best to achieve this, including voluntary contributions.”
“Labor’s new policies provide a positive direction for Australia’s future and will help deal with the problems being created by an ageing population.”
“Australians do not want to ‘work until they drop’ and having an adequate income for retirement is the key to providing them with real choice.”
“Labor has committed to safeguard the Age Pension and lock in access at 65 while the Howard Government has signalled its desire to lift retirement age by restricting Pension eligibility.”
“Labor’s commitments to end age discrimination in the workforce and provide better support for older workers are also very welcome.”
“Under the Howard Government discrimination against older workers has worsened with recent ABS data showing that almost one in three 45 year old jobseekers are unable to get work because employers consider them too old.”
