Labor has always stood up for fairness for older Australians. Labor has provided more help for pensioners through increases of more than $100 a fortnight in the age pension for singles and $76 for couples.

Older Australians have made our nation strong and prosperous and deserve to be supported in their later years.   
 
Federal Labor has delivered the biggest increase to the single age pension in more than a hundred years.  Our pension reforms have delivered increases of more than $100 a fortnight for single age pensioners, and more than $76 for couples.

Federal Labor has delivered for pensioners and self-funded retirees.  We have driven major reforms to support older people and prepare Australia for the challenges of the future.  We have improved pension indexation so the pension keeps up with the rising cost of living.  We have introduced a new Pensioner Living Cost Index that better reflects the basket of goods that pensioners buy, and have included this, along with the regular CPI and a benchmark to wages to the pension indexation formula.  The Labor Government has also increased the single pension from 25 per cent to 27.7 per cent of Male Total Average Weekly Earnings, and will keep the benchmark at this higher level.

Federal Labor believes that the age pension is a foundation of Australia’s retirement income system. Three out of four Australians aged over 65 receive a full or part pension.  The age pension needs to provide seniors with a decent standard of living, and that’s what our pension increase and changes to indexation will help achieve.