[Greens-Media] Boomers before pensioners

[Bennett, Ebony (Sen B. Brown)]

Wednesday, 10 May 2006

Boomers before pensioners 

 The government's superannuation changes favour the desire of baby
boomers to retire on high incomes, while ignoring the plight of today's
aged pensioners, Greens leader Bob Brown said today.  

"The changes deliver someone earning $100,000 per year an extra $199 per
week, taking their weekly retirement income to $1,223, while today's
aged pensioners live on just $287 per week," said Senator Brown.

"The superannuation tax concessions will cost $2 billion per year and
are useless for today's pensioners, whom Mr Howard has offered a paltry
one-off $102 bonus."

The Greens commissioned an analysis of the fairness of the current
superannuation tax concession arrangements. The report, entitled 'The
costs of ageing in Australia: A crisis of cash or a crisis of
confidence?' found the aged pension is cheaper than the cost of
superannuation tax concessions for high income earners.

"The Government constantly refers to the costs of ageing. But the costs
of superannuation tax concessions for a person earning $120,000 per
annum are more than twice the cost of paying for an aged pension," said
Senator Brown.

Further information: Ebony Bennett 0409 164 603

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Ebony Bennett
Media Adviser
Office of Greens Senator Bob Brown
Mobile: 0409 164 603
Ph: (02) 6277 3170
Fax: (02) 6277 3185
ebony.bennett at aph.gov.au