URGENT UPDATE: New research reveals alarming disparities in retirement finances for Indigenous Australians, with more than half dying before they can access the age pension. The study, led by University of Queensland associate professor Levon Blue, highlights systemic flaws that disadvantage First Nations people in Australia’s retirement income system.
This critical issue demands immediate attention as Indigenous Australians face unique challenges, including life expectancy disparities and significantly lower earnings—up to 30 percent less than their non-Indigenous counterparts. According to co-author Peter Anderson, the economic injustices of the past, including the devastating impact of stolen wages, have compounded these difficulties.
“Economic justice for our old people and Elders is actually having access to their superannuation or access to funds,” Prof Anderson stated. “We have high earning potentials, yet we can’t access the money of the system.”
The research reveals that many Indigenous workers, particularly those involved in the Community Development Program (CDP), have not received compulsory superannuation contributions. This alarming oversight leaves them vulnerable in retirement. Prof Anderson expressed his shock, stating, “Being from a remote community myself… superannuation wasn’t even factored into the conversation.”
In response to these findings, researchers propose the addition of a new “pillar” to Australia’s retirement system. This would allow early accumulation and access to superannuation for Indigenous people and those with chronic illnesses facing shorter life expectancies.
Dr. Blue emphasized that recent changes, such as superannuation payments during maternity leave and early access during the COVID-19 pandemic, indicate that the system can adapt. “This isn’t a new issue,” she noted. “It’s been talked about and advocated for for decades… and it still hasn’t occurred.”
The implications of this research are profound. It not only sheds light on the inequalities faced by Indigenous Australians but also calls for immediate reforms to ensure they can retire with dignity and security.
As this story develops, attention will be on how policymakers respond to these urgent findings. Will systemic changes finally be implemented to rectify these long-standing injustices?
For ongoing updates on this critical issue, stay tuned. The research has been published in the Australian Journal of Social Issues, and advocacy for change continues to grow.
