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Raise the SG, not the pension age
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| Michele Dolin
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The Federal Government may have erred in its policy decision to lift the pension age, according to new research published by big West Australian fund, GESB.
The GESB research, published this week, found that only one in 25 Australians believe that the age at which people are eligible to receive the pension should be raised.
Indeed, on ranking of issues, lifting the pension age was the sixth least popular option in the minds of survey respondents.
However, the same research suggests the Government should embrace a lifting of the superannuation guarantee from the existing 9 per cent to 12 per cent, with respondents listing it as the most popular option — followed by expanding the co-contributions regime.
Commenting on the research findings, GESB chief executive Michele Dolin said a variety of responses would need to be developed in order to support Australians to plan and save effectively to generate income streams that provided for longer lifespans.
AUTHOR
Mike Taylor
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