THREE DECADES AGO a Labor-led Government wound up a national fund, financed from a tax levy, which would have assured Australian pensioners of a liveable pension income, virtually forever.
But before doing this, successive Liberal and Labor Governments, over the previous 3 decades, pirated BILLIONS of dollars from the Fund by “swallowing up” its resources into Consolidate Revenue for non-welfare spending.
Today, because of these actions by successive Liberal and Labor Governments over SIX DECADES, 36 percent of all Australian aged pension recipients struggle below the poverty line.
But without access to THEIR OWN TAX CONTRIBUTIONS which all Australians once had for their retirement, they’re now being told that they’re a DRAIN on the rest of Australia – and they must “pull in their belts”even further.
The Labor and Liberal Parties have an opportunity this election to commit to RESTORE the former welfare and pensions fund – and with it, some EQUITY and RESPECT for the country’s ageing population who built the nation during all of this period.
All Australians are still paying, as part of the current tax structure, the 7.5% levy first applied in 1946 – but without ANY prospect, at this stage, of receiving any post-retirement benefits from it. This was the sole aim and purpose of this tax ,originally.
Australian pensioners – and PENSIONER ORGANISATIONS around the country – it is time to UNITE FOR EQUITY on this issue.