Senator for Victoria, the Hon Mitch Fifield welcomed new changes to the age pension which will make the age pension fairer and more sustainable.
Senator Fifield said the 2015 Budget is part of the Commonwealth Government’s plan to build a strong, safe and prosperous future for all Australians.
The changes announced in the 2015 Budget mean:
More than 170,000 pensioners with modest assets will have their pensions increased by an average of $30 per fortnight.
No change or higher pensions for 90 per cent of pensioners.
We are taking off the table last year’s Budget measure to link pension increases to the Consumer Price Index (CPI).
“The Government is providing more assistance to pensioners with modest means and at the same time, is being responsible by making the age pension system more sustainable”, said Senator Fifield.
“We’ve been listening and consulting.
“We’ve got the balance right with no change or a higher pension for 90 per cent of age pensioners.
“Pensions will continue to be indexed with a more generous indexation measure.
Senator Fifield said older Australians not on the pension and funding their own retirement with superannuation can be confident that the Government will continue to provide strong support for superannuation.
“We believe in helping and rewarding Australians who put away for their own retirement.
“Mr Shorten has already announced he will hit older Australians hard with new taxes on superannuation.
“With an ageing population this is the wrong way to go.
“Unlike Labor, we have no plans to increase taxes on superannuation.
“The Coalition Government is delivering on its commitment not to make adverse or unexpected changes to superannuation.
“The 2015 Budget is the next step in the Coalition’s responsible, long-term economic plan to build a strong, safe and prosperous future for all Australians.”
More details about the changes to the age pension are available at www.dss.gov.au
Media Contact: Tamsin Lawrence – 0408586151