Pensioners include the well-off
New research on Australian pensioners has found that one in seven pensioner households are worth an average $1.6 million, including the family home which is currently not assessable under the pension means test.
The National Centre for Social and Economic Research discovered that most pensioners who rented their homes were close to the poverty line by comparison, and needed much more government assistance than wealthier recipients.
The Brotherhood of St Laurence director in Melbourne, Tony Nicholson, said that “while many are struggling with daily living expenses, some people on the aged pension are actually doing quite well.
“With an ageing population it becomes even more important that the Government targets funds to the most needy.”
The Rudd Government is now receiving numerous submissions on the national pension issue as it begins to finalise its spending priorities on policies in time for the May Budget.
