Summary:
National Seniors Australia recommends the government adopt targeted income test exemptions for the care and agriculture sectors and a mature age traineeship scheme to boost workers in home care.
Increasing workforce participation among the mature aged can lead to significant economic benefits, as shown in the Deloitte report.
The submission suggests introducing a simpler system to reduce friction between government payments and work, such as reducing the income test taper rate to 32.5c dollar for all payment recipients.
Sector-specific policies like targeted opt-in income test exemptions for pensioners and veterans and mature age home care traineeships are proposed to boost workforce participation in specific sectors.
The document highlights the growing problem of mature age unemployment and the need to encourage greater workforce participation to boost savings and income throughout life.
There is a focus on the care sector, with projections showing increasing demand for care workers to support older Australians.
The submission also discusses the need to support those with limited earnings and savings to improve their financial situation.
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National Seniors is a not-for-profit membership and advocacy organisation that gives older Australians – working and retired – a strong national voice. We tackle issues such as age discrimination, mature age employment, the Age Pension, social inclusion, cost of living concerns and more.
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