Guv' invites Boomers to suck Australia dry (updated)

By Leith van Onselen

The AFR is reporting today that the Abbott Government is canvassing ways to include one’s principal place of residence in the Aged Pension assets test in a bid to make the retirement system more sustainable and equitable as the population ages:

Social Services Minister Scott Morrison has discussed the issue in talks with peak seniors groups in recent weeks, while Kelly O’Dwyer, the parliamentary secretary to the Treasurer, said on Monday the matter will “almost certainly” need to be debated following the release of the intergenerational report within weeks.

A taskforce has also been established within Treasury to look at retirement incomes.

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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.

Guv’ invites Boomers to suck Australia dry (updated)