The end of the Age of Entitlement: What it means for you

“The age of entitlement is over,” declared federal Treasurer Joe Hockey last week. “The age of personal responsibility has begun.” This message from the Federal Government is on high rotation at the moment, used to justify a range of decisions, from refusing assistance to the automotive industry to foreshadowing cuts to the welfare system. What’s the debate likely to mean […]

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Members save big on quality Life Insurance for FiftyUps

“I saved over $80 per month [by switching from] a similar policy with another company,” says FiftyUp Club member Daniel Prokop, 59, who just took up the Life Insurance special offer we’ve negotiated for Australia’s best customers. The product is fully underwritten, with optional trauma and income protection cover, and it’s from 135-year-old provider NobleOak. “NobleOak completed my application over the phone and approved […]

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DEAR MR MURRAY … Here is how to fix our financial system

Beef up consumer protection in the finance industry. Ban banks from wealth management activities. Make product disclosure statements less confusing. These are some of the messages from top economists to David Murray, the former bank boss who is now in charge of the Abbott Government inquiry into Australia’s financial system. Fairfax Media’s BusinessDay asked a panel of experts to nominate […]

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The Swinging 60-, 70- and 80-somethings

The swinging sixties are back, but this time it’s people in their 60s, 70s and beyond who are embracing free love – with potentially dangerous consequences. Older singles must have missed the lecture about safe sex, according to American oncologist Ezekiel Emanuel, who wrote in an op-ed for The New York Times recently: “Combine retirement communities, longer life, unfamiliarity with […]

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How to cut the Federal Budget without cutting the Pension

After a spate of stories about whether the pension could be targeted to find savings for the federal budget, Federal Age Discrimination Commissioner Susan Ryan had a radical suggestion. How about reducing the cost of the pension by keeping older people in the workforce, if they’d prefer to work longer? So we asked Ms Ryan for 10 practical ways we can cut the […]

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To you, I bequeath my enormous medical bills

Raising kids is an expensive business, especially if they don’t move out of home until they’re sprouting grey hairs themselves. But payback for these KIPPERS (Kids In Parents’ Pockets Eroding Retirement Savings) could be on the cards if Australia follows the lead of Germany, where children can be held liable for their parents’ healthcare if their parents can’t cover the […]

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Should a big home mean a smaller pension?

Should the full value of your family home be included in the age-pension asset test? That’s one of the options being considered by a Senate committee investigating cost-savings in the federal budget. The Business Council of Australia’s president, Tony Shepherd (pictured), who also chairs the committee established by the Abbott Government, submitted the proposal to scrap the long-standing exemption to […]

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Pollies do battle over your super again

Should super funds be allowed to spend members’ money on publishing a daily newspaper? A group of industry super funds says yes: in recent months they’ve launched The New Daily, a news website edited by former News Corp Australia and Fairfax Media executive Bruce Guthrie (who famously sued his former employer for six figures when sacked as editor of the Herald Sun newspaper). […]

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Why 2014 could be the year the postman is privatised

Should publicly-owned companies such as Australia Post, Medibank Private and electricity networks be sold off? Would consumers benefit? That’s been one of the hot topics of recent weeks after the competition watchdog suggested it in a newspaper interview about an upcoming federal government review of competition policy. “There is no doubt in my mind that energy prices, particularly in NSW and Queensland, […]

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