Retirement income

Federal Budget 2017/18 - how will retirees be affected?

Challenger's Head of Technical Services, Andrew Lowe, explains how the Federal Government's Budget of 9 May 2017 may affect Australian retirees. 

The key changes we highlight in this video include:

  • additional super contributions for down-sizers
  • first home super saver scheme 
  • Energy Assistance Payment
  • Pensioner Concession Card reinstatement
  • working age payments reforms
  • 0.5% increase in Medicare Levy 
  • increase to Medicare levy low-income thresholds.

More information

It's important to note that at this point in time, these proposed measures are not yet law and are subject to change.

For further information regarding these proposed changes, speak to a financial adviser who will look at your personal circumstances. 

This update has been prepared by Challenger Life Company Limited ABN 44 072 486 938, AFSL 234670 (Challenger) and is current as at 9 May 2017. It is general factual information only and not financial, taxation or social security advice. In preparing this information, Challenger has relied on publicly available information and sources believed to be reliable, however the information has not been independently verified. While due care and attention has been exercised in the preparation of this information, no representation or warranty, either express or implied, is given as to its accuracy, completeness or reliability. The information presented is not intended to be a complete statement or summary of the matters referred to. Budget proposals may not be legislated, or may be legislated in amended form. Neither Challenger nor their related entities, nor any of their directors, employees or agents accept any liability for any loss or damage arising out of the use of all or part or, or any omission, inadequacy or inaccuracy in, the information presented.