The pension is a safety net, not an entitlement

Thursday 12 February 2015

Liberal Democrats Senator, David Leyonhjelm, has penned a spirited article in The AFR today urging reform to the Aged Pension system to ensure that it is reserved only for those in genuine need, rather than those with significant incomes and/or assets:

We are not entitled to an age pension merely because we have paid taxes all our life… fundamentally they are welfare, reserved for the poor.

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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.