Friday, 18 January 2019

Senate Economics: Social Security Amendment Bill

Schedule 1 to this Bill implements changes to Age Pension means testing to allow for new innovative income streams. AIST recommends that Schedule 1 be deferred due to the lack of a unified retirement income strategy at a policy level, the identification of major flaws in the Government’s retirement income framework as identified by the Productivity Commission, and the outstanding gaps in consumer superannuation disclosure which are yet to be resolved.