Govt sells itself to self-funded retirees

The Federal Government has directed at least some of the promotional material around its Household Assistance Package towards self-funded retirees.

Money Management and other industry media have received material from agencies assisting the Government under the heading 'Self-funded retirees continue to benefit under Household Assistance Package'.

The material points to all taxpayers earning less than $80,000 getting a tax cut and the tripling of the tax-free threshold, before stating that those self-funded retirees who receive the Seniors Supplement have already received an initial payment of $250 for singles and $190 for each member of a couple.

Related News:

It said Seniors Supplement recipients would also be eligible for ongoing support - the Clean Energy Supplement - paid in arrears from June next year with their quarterly payments.

The material said some self-funded retirees did not pay tax because of tax concessions available for some types of superannuation income for people aged 60 and over, adding, "if you have superannuation income and do not receive the Seniors Supplement or another Government payment, you may be eligible to receive the $300 Low Income Supplement".

The material finishes on the note, "the Household Assistance Package is designed to benefit self-funded retirees and other Australians who need it most".

Related Content

Half of new retirees face pension adversity: ISA

Industry Super Australia (ISA) has weighed into the Government's pension changes, claiming that within 10 years 50 per cent of new retirees will find ...more

MLC Life Insurance expands retail advised team

MLC Life Insurance has expanded its retail advised team to help focus on the development of longevity solutions and to drive a new direction in underw...more

O’Dwyer points to limitations of account-based pensions

The Federal Government has signalled it will be calibrating the social security means testing regime around the development of new retirement income p...more



Add new comment