This is not just a number, but a significant blow to our community. However, there is hope our sustained efforts over the next two years could potentially mitigate this increase.
Let’s not just remain optimistic, let’s be determined to make a difference.
I work daily with people on low incomes. I am very aware of the problems people on superannuation have making ends meet every week.
With super going up 6.7% this year and rates going up 10.1%, it is only making it harder for low-income people to survive. Everything else is going up 10 to 20% or more.
How much longer can people on no income other than superannuation meet their outgoings?
I think this is a significant problem. A group of older people are facing a unique kind of trap in their own homes. They cannot sell or downsize them, which is causing them real difficulty.
Many of these individuals would like to move to a smaller, more manageable home, but they are unable to access bridging finance. The banks, it seems to me, are not interested in helping them out.
This is a problem that needs to be addressed, and it’s one Grey Power is actively advocating for.
The ridiculous thing is we seem to have older people trapped in large homes, unable to put them on the market, and we have families searching for large homes who are unable to find them. I think if the banks could arrange bridging finance, this would take some pressure off families looking for larger homes.
I represented the Grey Power Federation at this year’s Older and Disabled People Focus Group Combined Banks meeting in Wellington.
The meeting discussed bridging finance, a significant problem with downsizing. However, no comments were made from the banks (all the central banks were represented at the meeting).
As we approach the next election for local bodies, we are also drawing closer to the Government-enforced referendum on the Māori seats.
This referendum, scheduled to take place in October next year, has the potential to significantly impact our community. We can expect a surge of political discourse in our newspapers, on TV and social media. Unfortunately, this situation could become overwhelming.
