Stop allowing wealthy home owners access to the pension

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By Leith van Onselen

Fairfax is reporting today that “experts” are calling on the Government to preclude wealthy home owners from accessing the Aged Pension, instead calling on them to take-out reverse mortgages against their homes:

Allowing retired people to raise money through their own homes is seen as a way to make it more politically palatable to reduce the government pension to people who made have a lot of wealth in property.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.