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Shadow Minister affirms Coalition's commitment to post age 65 super



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*asm* MEDIA RELEASE

David Connolly Shadow Minister for Superannuation and Retirement Incomes

SHADOW MINISTER AFFIRMS COALITION'S COMMITMENT TO POST AGE 65 SUPER

Addressing a gathering o f retirees, Shadow Minister for Superannuation and Retirement Incomes, David Connolly, today affirmed the Coalition's commitment to abolishing age discrimination and to allowing persons over the age o f 65 who maintain a bona fide link with the paid workforce to contribute towards their superannuation.

Currently, apart from some transitional provisions applicable to employees who were age 60 or over at 1 July 1990, employees are required to cease contributing to superannuation at age 65.

On 20 October Federal Cabinet finally announced it would abolish compulsory age retirement for Federal Public Servants, seven years after the Coalition's Retirement Incomes Policy committed the Coalition to ending age discrimination.

When it announced the change the Government noted that it was consistent with its decision to extend the availability o f workers' compensation arrangements beyond age 65. Despite this reference to employment based entitlements, the Government failed to address the issue o f post age 65 superannuation.

The current restriction is inconsistent with an anti age discrimination agenda.

M oreover it denies those persons over 65 who need, or want to work, the capacity to supplement their retirement income. This is particularly true for those workers who have participated in the paid workforce for less than the traditional 40 plus years.

Many o f these workers are women.

The Coalition's commitment will provide women (and others whose paid workforce experience has been characterised by breaks) with a longer period in which to accumulate an adequate retirement income. It will also enable people to continue contributing to superannuation at a time in their lives when they most able to afford such contributions.

For more information: (06) 277 4207(w) (06) 295 0338(h) (02) 988 4122(w) (02) 488 7792(h)

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Labor's failure to address the issue o f superannuation for workers older than 65 indicates that it lacks a genuine commitment to addressing the needs and concerns o f older Australians.

15 December, 1995

David Connolly will be available for comment in Sydney this evening on:

(02)4887792