Pension pressures: The future of Australia’s key seniors’ payment
Australia’s age pension appears under increasing pressure. Seniors are living for longer while the workforce that pays the taxes that help fund pensions is a shrinking proportion of the population.
It might worry people that the money tap will run dry, but finance specialists say the future of this vital government payment looks safe.
They say the growing size of superannuation nest eggs will continue to ease the strain on the public purse, and future governments still have plenty of options to tweak the pension system to ensure money goes to who really needs it.
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This tweaking has already started and could potentially lead to part of the family home being included in age pension assets tests.
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