Blow to retirement savings

Bathurst AiN Desiree Pearson is studying for her nursing degree full time and can only work part time, at a nursing home.

She earns well below $37,000 a year and therefore benefits from the Low Income Superannuation Contribution (LISC).

Desiree said she was “shocked and quite disgusted” to hear of the Liberal plan to abolish the LISC.

“That’s not going to be fair – it’s going to put a lot of low income people at a disadvantage. That extra cash makes a big difference at the end of your working life when you retire,” she said.

“In today’s climate most people can’t afford to live just on the pension, they need decent superannuation too.”

She described Mr Abbott’s proposal to delay the Superannuation Guarantee increase as “yet another attack on low income earners who are already struggling.

“If the Liberals get their way a lot of people will have to work longer before they can retire.”