Ageing Archives - Consumers' Federation of Australia

31 October , 2023

Have Your Say: New Advocacy in Ageing and Disability Standard Opens for Public Consultation

People with a disability and older persons are some of the most vulnerable in Australia. They need to have their voice heard on issues that are important to them to protect and promote their rights. For this reason, the requirements established by a new Draft Standard on Ageing and Disability is to provide uniform minimum…

8 September , 2023

Super Consumers Australia: “System-wide quality testing needed”

Today’s super performance test results have revealed 96 underperforming choice products in
the market.

7 September , 2023

COTA: Federal Government Needs to Increase Services for All Ages

“COTA Australia has been calling for action to support older people better plan for retirement. Financial literacy and retirement income products are key elements to make sure people are confident to spend more than the legislated minimum draw down and support them to have a dignified retirement.”

11 August , 2023

Older People Must be Consulted on New Aged Care Act and New Principles for Aged Care Funding

Older Australians will be asked to share their knowledge, insights and perspectives on our aged care system over the coming weeks as part of a consultation process looking at strengthening and improving the laws governing aged care.
The consultations follow the release of the Australian Government’s Consultation Paper on the new Aged Care Act – a key recommendation of the Royal Commission into Aged Care Quality and Safety – as well as the release of principles guiding aged care funding.

18 July , 2023

APRA, ASIC: Super trustees need to improve retirement outcomes planning’

A thematic review of how superannuation trustees are supporting their members under the Retirement Income Covenant has found that trustees need to make more progress to enhance retirement outcomes. The review was conducted jointly by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC).

11 July , 2023

Socialisation Vs. Risk of Infection: New Aged Care Visitor Code Strikes Right Balance

The revised Sector Code for Visiting in Aged Care Homes released today strikes the right balance between protecting against the risk of infection and ensuring older Australians are not left socially isolated.

Image 1 May , 2023

“Some super funds shouldn’t be in the market”

With the release of the Australian Prudential Regulation Authority’s (APRA) ‘Choice Heatmap‘ which provides greater performance transparency and scrutiny on various multi-sector Choice investment options, Super Consumers Australia (SCA) released a media statement on 26/04/2023 (below) calling for more transparency and testing while emphasising the specific vulnerability of Australian retirees: “It is appalling that after…

Image 11 April , 2023

COTA: Don’t lock vulnerable Australians out of banking

The trend towards digital and cashless banking is already negatively impacting many vulnerable Australians as COTA (Council on the Ageing) highlighted in their recent media release, as seen below: The closure of cash services at bank branches risks cutting off access to vital and basic banking services for many older Australians, particularly our most vulnerable,…

Image 11 April , 2023

Direct Debit for Telcos and Utilities a Problem for Vulnerable Consumers

The Australian Communications Consumer Action Network (ACCAN), along with the Public Interest Advocacy Centre (PIAC), has found that while direct debit may work for some consumers direct debits automatic system and lack of flexibility created unfair additional costs and financial distress for vulnerable consumers. In a media release (05/04/2023) ACCAN said: A thriving and competitive…

31 August , 2022

Making Australia’s new homes more liveable

Federal, state and territory building ministers have agreed on a series of sweeping national reforms that will ensure that new homes in Australia will be more comfortable, liveable, accessible and energy efficient. This is a media release from The Hon Ed Husic MP: Minister for Industry and Science. It was originally published on 26th August, 2022. Industry…

20 July , 2022

How much do you need to save for retirement?

After an extensive consultation process, new retirement savings targets for homeowners are ready to help Australians get started on their retirement plan. This is a media release from Super Consumers Australia. It was originally published on 18th July, 2022. “Among the most important financial questions retirement-planning Australians face is how much they need to save and what income…

28 June , 2022

Report backs greater support for vulnerable customers

Customer-owned banking institutions may need to step up support for consumers experiencing vulnerability as pressures on people increase and ahead of the introduction of more stringent obligations under a new Code of Practice, a new Report says. This is a media release from Customer Owned Banking Code Compliance Committee. It was originally published on 23rd June, 2022. While saying many…