Submission to the Retirement Income Review

Summary: Submission to the Retirement Income Review National Seniors supports principles of adequacy, equity, sustainability, and cohesion in the retirement income system. Older Australians emphasize the importance of certainty as a principle in the system. Adequacy in retirement income is a significant concern for older Australians. Australia's retirement income system combines residence-based pensions with contributions-based schemes. Concerns about declining home ownership rates among older Australians. National Seniors advocates for measures to encourage ongoing workforce participation past retirement age. Confidence in the retirement income system is impacted by perceptions of fairness and policy changes. Unfairness in superannuation tax concessions affects middle-income earners. Self-funded retirees express concerns about discrimination and benefits compared to pensioners.