In this TARGET 30 Research Report CIS modelling shows that reforming the pension could deliver income gains of more than $5,900 a year to almost 98% of pensioners. These reforms would also reduce the cost of the pension by $14.5 billion a year.
“With four out of every five retirees on the pension, and pensioners with over a million dollars in assets getting the same payment as those with almost nothing, the pension clearly needs reform,” says Simon Cowan, research fellow and co-author of the report,The Age Old Problem of Old Age: Fixing the Pension.
Read more here: https://www.cis.org.au/publication/the-age-old-problem-of-old-age-fixing-the-pension-2/
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