Why more people are turning to the retirement pension | 7.30

Why more people are turning to the retirement pension | 7.30
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Hundreds of thousands of retirees feeling the pinch due to record low interest rates are expecting some relief soon.

Floryday WW

The Federal Government is under pressure to allow pensioners to earn more from investments or savings without affecting their pensions.

It’s reviewing what’s called the pension ‘deeming rate’ in a move that could cost the budget hundreds of millions of dollars.

But in the longer term, the Government faces more fundamental challenges to age pension funding, as Peter McCutcheon reports.

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