Actuary firm, Rice Warner, has questioned the efficacy of Australia’s retirements system, arguing that action is needed to redress imbalances in the pension system that favours wealthy Australians. Specifically, Rice Warner proposes including a retiree’s principal place of residence in the assets test for the Age Pension above a certain threshold, as well as increasing rent assistance for pensioners.
Below are key extracts from Rice Warner’s paper, which will be presented to the Actuaries Institute’s Financial Services Forum later today:
