Alliance for a Fairer Retirement System

Our Voice

Our latest news, case studies and reports

Alliance for a Fairer Retirement System submission on Retirement Income Review

The Alliance for a Fairer Retirement System noted the recent announcement that the Government intends to establish a Retirement Income Review as recommended by the Productivity Commission in its recent inquiry. The Alliance supports the proposed Review and would like to suggest items to be considered in the terms of reference for the inquiry plus some background discussion on those items. However, no change should be made that leaves the vast majority of current retirees in a worse position than they are today.

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MarketingSubmission, Advocacy
Objectives of the Alliance for a Fairer Retirement System

An important objective for government is to encourage older Australians to save for retirement and to support the majority of retirees (58%) who take pride in being either fully or partly self-funded in retirement. This majority includes many self-funded retirees and almost half of the current 1.1 million SMSF trustees who are either in the pension phase, or who will move into that phase shortly. 

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MEDIA RELEASE: Labor’s refundable franking credits proposal impacts more lower income-earners than the wealthy – refunds of company paid tax are not a “gift”!

Labor has released its election costings that show its spending promises will largely be funded by cuts to the incomes of retirees and other lower income shareholders to the value of $58 billion over the next decade.

“The Labor Party’s refundable franking credits proposal does not target the wealthy,” says Professor Deborah Ralston, a spokesperson for the Alliance for a Fairer Retirement System. “The vast majority of individuals affected, who receive a refund of less than $5,000 a year, would not be considered wealthy by most Australians.”

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MEDIA RELEASE: Refundable franking credits report should prompt Opposition rethink

A parliamentary committee recommendation not to remove refundable franking credits should prompt the Labor Party to revisit this proposal if it wins office after the next federal election, says the Alliance for a Fairer Retirement System.

The House of Representatives Standing Committee on Economics, which handed down its Report on the Inquiry into the Implications of Removing Refundable Franking Credits last week, also recommended that any proposal that could reduce Australian retirees’ income by up to one third “should only be considered as part of an equitable package for wholesale tax reform”.

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Marketingmedia release
Have your voice heard - QLD & NSW dates announced for Economics Committee Franking Credits Inquiries

The discussion around the impact of banning franking credit refunds as proposed by the Labor Party continues in earnest into 2019.

We understand that many members of our community are looking for ways to make their voices heard in opposing this proposed policy. Accordingly, we would like to draw your attention to upcoming public hearings that the House of Representatives Standing Committee on Economics is holding for its inquiry into the implications of removing refundable franking credits.

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MEDIA RELEASE: Labor’s franking credit refunds proposal fails public policy test

The Labor Party’s proposal to deny franking credit refunds fails the test of sound public policy on four grounds – adequacy, sustainability, certainty, and, most importantly, fairness.

Professor Deborah Ralston, chair of the Alliance for a Fairer Retirement System, in an address today to the Gold Coast Retirees organisation, highlighted how the proposal would severely dent the incomes of more than one million Australians, of whom the vast majority could not be described as “wealthy”.

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MEDIA RELEASE: Fairer Retirement Summit highlights unfairness and poor design of proposed ALP franking credits refund policy

Labor’s proposal to deny franking credits refunds was labelled grossly “unfair” by the Assistant Treasurer, Stuart Robert, at the Alliance for a Fairer Retirement System Inaugural Summit held in Sydney this week.

Addressing the more than 130 people who attended the Summit, Robert said: “The critical point is that more than 45 per cent of the 900,000 people affected are 65 years or older.

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Josh Geersmedia release