Self-funded retirees breathed a sigh of relief when the federal government budget was delivered on Tuesday.
Warrnambool Association of Independent Retirees spokesman Rod Carter said he was pleased the government extended the pause on the mandatory minimum annual withdrawal rate for superannuation funds.
"We had a win with the pause extended for the financial year," Mr Carter said.
"That's one thing that came out of it that will help us."
Last week, Mr Carter said self-funded retirees were hoping the pause would be extended.
The rates were halved for the 2019/20 and 2020/21 financial years in the midst of the coronavirus pandemic.
"We're asking the government to let that continue for another year," Mr Carter said at the time.
However, it wasn't all good news for self-funded retirees, according to Mr Carter.
One key concern was a lack of investment in increasing salaries for aged care workers.
Mr Carter said Australia had an ageing population and it was essential the federal government focus on recruiting more aged care workers.
"I think the federal government will probably lose a lot of older voters on that one," he said.
Mr Carter said it was also disappointing many Australians would receive financial relief - with pensioners set to receive a one-off $250 payment and and low to middle income earners receiving a tax offset of up to $1500.
He said it would be a huge strain on the federal government if self-funded retirees were forced to go onto the public purse.
Mr Carter said some were now receiving part pensions as a result of COVID-19's impact on the stock market, low interest rates and the rising cost of living.
"There seems to be an idea with the Liberal National coalition that all self-funded retirees are rich," he said.
"That couldn't be further from the truth."
Mr Carter said he was also concerned the cut to the fuel excise tax could result in less money being spent on roads.
"The roads in the Western District are terrible and this might affect how much they spend on roads," he said.
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