Report reveals shocking reality of poverty rates
According to a recent report card on poverty, those unemployed in Australia have been found to be the poorest in the developed world, with retirees living in Australia ranked as the fourth poorest.
According to The Organisation of Economic Co-operation and Development, 50% of single Australian retirees live in poverty - defined as less than 50% of average earnings. This figure has risen by 4.8% over the last ten years. Other figures also indicate that an alarming 27% of all retired people in Australia live in poverty.
One way to avoid becoming a victim of poverty is to open a high interest savings account and deposit whatever money you can afford. This can then provide a source of financial aid to those in need, keeping them above the poverty line.
Jenny Macklin - Families and Community Services Minister, said the figures from the report are "shameful" and underlines the 12 years of neglect from the former Howard government.
“This is a searing indictment of the Opposition’s record in government on older Australian,” she said.
National Seniors chief Michael O'Neill said the report only reiterate what Australian pensioners already knew.
“The single pension is inadequate and needs to be increased to two thirds the rate of the couple pension,” he said.
The report has provided more bad news, with figures showing that our unemployed are in a worse state than our retirees, ranking them as the poorest in any developed nation.
Gerard Thomas - Sydney's Welfare Rights Centre policy officer, said this was a chilling message, the number of those to become unemployed is expected to continue rising as a result of the economic slowdown.
“The Government has recognised that pensioners are doing it tough but they appear to have blinkers on when it comes to understanding the real situation that unemployed people find themselves in,” he said.
The Rudd Government has introduced a $500 allowance this year in an attempt to boost pension incomes, and will be raising the telephone allowance to $132 a year.
Last October, the Government announced it would be providing pensioners with a one off lump sum Christmas bonus of $1,400 for single pensioners and $2,100 for couples, in an attempt to kick-start consumer spending.
An inquiry is also under-way to increase the single pension, which currently stands at $281 a week.
The unemployed are provided with $50 a week less and they were not included in the Government’s recent economic rescue package.
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