Australia. Universal pension for all: Retirees call for tax and income reform
Every retiree would get at least a part pension under a plan being considered by seniors’ groups amid concerns the coronavirus pandemic’s effect on key income streams is leaving many older Australians cash poor and increasing the number living in poverty.
Seniors organisations are pressing the Morrison government to look at a massive overhaul to the pension system that would also take into account possible changes to tax concessions, such as franking credits, as a way to pay for any reforms.
The federal government is reviewing the retirement income system although its reporting date has been pushed back to July 24 due to the pandemic’s impact on agencies.
The COVID-19 crisis, and measures to stop its spread, has created havoc with equity and investment markets while also leading to a huge fall in global interest rates. Economic shutdowns have hit jobs and seen a sharp increase in the number of renters – private and commercial – unable to pay rent.
Read more @The Sydney Morning Herald
