Government could claw back billions from wealthy pensioners who are building up inheritances

The government could claw back $2.2 billion a year from “wealthy” pensioners by lowering pension asset tests by $100,000, and a further $3 billion a year by lifting the rate used to estimate the income people earn on their assets, a leading economic adviser to the government says.

Modelling by the Australian National University for The Australian Financial Review also showed taxpayers are paying about $4 billion a year in payments to people living in homes worth more than $1.5 million, including $1.8 billion to people living in homes worth more than $2 million.

Loading…