The National Foundation for Australian Women supports in principle the imposition of a higher tax rate on high balance accounts. We are concerned that the principle of equitable outcomes will be lost in the discussion around the mechanics of how the charge will be calculated, particularly the characterisation as a tax on unrealised gains.
The National Foundation for Australian Women supports legislating the Objective of Superannuation. The Objective should include the criteria of:-Preservation of savings-Generating income in retirement-Government support through the Age Pension and services including health and aged care-Ensuring a dignified retirement-Equity and sustainability
The rights of aged care users and workers must become central to the aged care system. These rights must be grounded in the UN Declaration of Human Rights. These rights must be available without discrimination on the basis of gender, ethnicity, sexuality, religion or any other personal characteristics; and where appropriate special protections should be made to ensure that the rights of minority groups are respected.
It is now widely acknowledged that the different elements of the retirement income system affect women differently to men. The design of the superannuation guarantee system is inherently flawed as it is based on lifetime income.
Recommendations made for the principles of the new aged care system.
The retirement income system affects women and men in different ways; it is not gender neutral. This submission responds to the terms of reference through a gender lens. This submission particularly addresses question 14 in the consultation paper.
A safe, high quality and sustainable aged care system is dependent on the workforce that delivers care. This submission focuses on measures that will enable the aged care workforce to grow and to adapt continuously.
Between the 2011 and 2016 Census, the numbers of women aged 55+ experiencing homelessness rose by 31%. Data from the Australian Institute of Health and Welfare indicate a 10.8% annual average increase of women aged 55+ assisted by specialist homelessness services between 2011-12 and 2017-18.
NFAW is concerned about the financial security of women, and the role of superannuation in achieving that security. To that end we have made a number of submissions to previous Parliamentary and Treasury enquiries into the superannuation system and to the Senate Inquiry into the Financial Security of Women in Retirement.
