What the New Labor Government Has Promised to do for Seniors

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National Seniors Australia have undertaken an analysis of what the Labor Government has promised to do for senior Australians, and the results are summarised here:

Retirement income: Labor has promised to extend the halving of the pension drawdown rate for another year (if you’re under 65 you can withdraw between 4 per cent and 10 per cent of your balance each financial year). Labor has also adopted the Coalition’s policy of a two-year freeze on deeming rates, which is good news for part pensioners.

Aged care reform: Labor has promised to back wage increases for aged care staff and committed to implementing 24/7 nursing care and minimum staffing time for residents. It has also pledged to cap home care management and administration fees.

COVID-19: Labor has promised to establish an Australian Centre for Disease Control and create a new COVID-19 strategy to reduce deaths.

To learn more about National Seniors Australia, please click HERE.

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