Financial responsibility refers to the practice of handling money and other assets in a way that is in your (as the owner of the assets) or your family’s best interest.
Over two million seniors rely on the Age Pension for retirement income, according to the Australian Institute of Health and Welfare (AIHW). Currently, you can start receiving the pension at age 66.5, but by the middle of 2023, you’ll need to be 67 or older.
More than 4.7 million Australians struggling to cope with cost of living pressures are in line for a helping hand.
An indexation increase on September 20 will be the largest rise for welfare payments in more than 30 years and the biggest for pensions in 12 years, Social Services Minister Amanda Rishworth says.
