Rich pensioners get Centrelink payments

Almost two thirds of people applying for the age pension in the last 12 months have assets outside their family home that are worth more than $100,000. While people who rely on the age pension alone must live on $273 per week, increasing numbers of asset rich retirees are qualifying for Centrelink payments thanks to the relaxation of the assets test last year. Some couples can qualify for a part age pension whilst retaining $1.1 million of assets outside their family home. More than two thousand couples have assets worth more than $800,000 and are still qualifying for payments from Centrelink.

Source: The Age

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