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In its pre-Budget submission, National Seniors has demanded the Morrison Government reduce the taper rate by which the Aged Pension is phased-out:
It wants to reduce the taper rate, which reduces the age pension for people depending on the value of their assets. The taper rate was lifted by then-treasurer Scott Morrison more than two years ago.
The organisation argues the current $3 taper rate means someone with $800,000 in assets is receiving less income than someone with $400,000 in assets.
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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.
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