Older Australians hit hard by cost of living crisis

A new survey has revealed how hard the cost of living crisis is hitting older Australians, with 80 per cent feeling the pinch.

And that figure is expected to increase in the next 12 months.

The National Seniors Social Survey covered 5700 people over 50 nationwide.

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The results showed 90 per cent of respondents were concerned about keeping up with rise of living costs, while 25 per cent were "extremely concerned".

Health costs, energy prices and groceries are the top three worries, though housing affordability is also a concern.

The survey found severe cost-of-living impacts were felt across all income levels and age groups.

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However, certain types of older people are hit hardest, such as renters, low-income households, people in their 50s, households of three or more people, and people in rural and remote areas.

"If you're an older person renting or on a low income, you're more likely to be hit hard by rising living costs," National Seniors Australia chief advocate Ian Henschke said.

The organisation is calling for the government to index the age pension every quarter during times of high inflation.

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"The age pension is adjusted twice a year in March and September. Rather than have pensioners wait six months, government should increase payments quarterly when inflation is high," Henschke said.

"Another key measure would be to exempt work income from the income test for all government payments, so recipients can work more without penalty."

He also called for an increase to the Commonwealth rent assistance program.

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