WHEN a person imagines their retirement, they might picture travel, expanding their involvement in the community or investing more time in their families, but the key objective is to reward themselves for decades of hard work, having earned the luxury of putting their feet up.
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But as we saw when we spoke to three elderly women about the rise in the age pension from September 20, retirement reality does not always fit those aspirations.
Struggling to afford basic utilities like gas and electricity is hardly a just reward for a lifetime contributing to society.
An extra $11.50 a fortnight will certainly help and a thrift spender will make that money go quite a way.
But with welfare representing a growing proportion of federal budget spending, the pension will not grow by the same amount forever.
While the adjustments will not come into effect in this term, the government has already flagged a change to the way the age pension will be indexed after 2017, meaning the pension will grow at a slower rate than it does now.
Subject to whether the measure passes through the Senate, the seniors supplement is also on the chopping block, which will take its toll as cost of living pressures increase.
If welfare payments are not sustainable, there needs to be another solution.
With the government considering its response to the renewable energy target review, including the subsidies available to those who purchase renewable energy options, perhaps it could consider assisting pensioners reduce their utilities costs into the future.
Taxpayers have a right to expect to pay only what is reasonable to help their fellow Australians, but governments have a responsibility to provide a basic standard of living.
Smart policy and a little investment now could pay off in spades down the track.
