Age
72 per cent of the 3946 respondents were aged 50–70, matching the ABS definition of baby boomers as men and women born between 1946 and 1964.
Gender
53 per cent of respondents were male and 47 per cent female.
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Q.1 to Q.3 Personal info |
Possible retirement income change |
Important – Very Important |
Not very important – not important |
Neutral |
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Q.4 |
Rules on Transition to Retirement (TTR) pensions being tightened to require proof of reduced working hours. |
52 per cent |
21 per cent |
27 per cent (moderately important) |
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Q.5 |
Changing the current concessional rates of tax on superannuation in the accumulation phase |
67 per cent |
15 per cent |
18 per cent (moderately important) |
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Q.6 |
If this rate is changed, how should it be done?
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Would like to see |
Would not |
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15 per cent rebate on individual’s marginal tax rate (Deloitte suggestion) |
39 per cent |
32 per cent |
29 per cent |
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20 per cent rebate on an individual’s marginal tax rate (Henry tax review) |
46 per cent |
29 per cent |
25 per cent |
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Lowering the upper limit for concessional tax from $300,000 to $250,000 (Labor Party policy) |
48 per cent |
34 per cent |
18 per cent |
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Allowing only $11,000 of contributions per year with a lifetime cap of $250,000 (Grattan Institute) |
29 per cent |
52 per cent |
19 per cent |
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Q.7 |
Passing last year Budget legislation to push Age Pension age from 67 (2023) to 70 (2030) |
Strongly disagree/disagree 68 per cent |
Agree or strongly agree 22 per cent |
10 per cent |
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Q.8 |
Should investment earnings from post-retirement assets be taxed? |
Strongly disagree/disagree 68 per cent |
Agree or strongly agree 31 per cent |
11 per cent |
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Q.9 |
If you agree with above question, that such earnings should be taxed, should there be a $75,000 threshold before such taxation starts, at a rate of 15 per cent? (Labor Party policy) |
Strongly disagree/disagree 29 per cent |
Agree or strongly agree 46 per cent |
25 per cent |
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Q.10 |
The family home is currently exempt from the the assets test for an Age Pension. Should properties valued at $2.5 million or higher have at least part of their value included in the assessment? |
Strongly disagree/disagree 32 per cent |
Agree or strongly agree 60 per cent |
8 per cent |
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Q.11 |
(related question to above) |
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Q.12 |
Do you feel Australia’s current retirement income system allows/has allowed you to achieve a reasonable retirement income which will provide a dignified life in retirement? |
Strongly disagree/disagree 55 per cent |
Agree or strongly agree 27 per cent |
18 per cent |
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Q.13 |
Should an urgent review of retirement income (Age Pension, superannuation, tax) be instituted before further changes are suggested?
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Strongly disagree/disagree 8 per cent |
Agree or strongly agree 82 per cent |
10 per cent |
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Q.14 |
If you agreed with the need for this review, should it aim for bi-partisan support for any recommended changes |
Strongly disagree/disagree 4 per cent |
Agree or strongly agree 80 per cent |
16 per cent |
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Q.15 |
Do you agree that there should be a moratorium on further changes to retirement income for a pre-determined period (say 5 years) in order to provide more certainty for those planning retirement income |
Strongly disagree/disagree 10 per cent |
Agree or strongly agree 77 per cent |
13 per cent |
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Q.16 |
Do you agree that there should be a government-backed equity release scheme which allows pensioners to access wealth in their family home, with these funds exempt from an assets test (Institute of Actuaries suggestion) |
Strongly disagree/disagree 14 per cent |
Agree or strongly agree 66 per cent
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20 per cent |
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Q.17 |
Related to above question |
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Q.18 |
Do you agree that negative gearing laws should be changed to only apply to new buildings (Labor Party policy)? |
Strongly disagree/disagree 41 per cent
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Agree or strongly agree 41 per cent
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18 per cent |
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Q.19/Q.20/Q.21 |
Specific income stream questions |
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Q.21 |
In 25 words or fewer, tell us the single most important change to retirement income, including the Age Pension, superannuation or tax, that you wish to see in the Federal Budget 2016/17 |
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