Sally Loane

The Financial Services Council said yesterday that the Intergenerational report has shown that Australia’s ageing population will continue to place pressure on the Federal Budget.

A national retirement policy should include super, the old age pension system, social security, housing and aged care systems. All of which need to be sustainable. None of which should be considered in isolation.

Sally Loane, CEO of the Financial Services Council said: “These are issues that need to be dealt with holistically and outside of the Budget cycle. We do not support picking single levers out without considering the outcome we require for a national retirement policy.”

“Instead of focusing on the tax treatment of super in isolation, we advocate the building of a national retirement policy which should include all the parts which make up the whole picture: super, the age pension, social security, housing and aged care systems. All of these need to be sustainable and considered holistically, not in isolation,” Ms Loane said.

“The Tax White Paper provides the right platform for this debate. The FSC is looking at all of the issues raised by the Shadow Treasurer for our submission to the Tax White Paper in June.”

“In having this national debate, everything should be on the table.”

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