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Changes to the age pension

A seniors group is expressing concerns about potential changes to the age pension, which is set to target wealthy retirees.

A new assets test is expected to be announced in next week’s Federal Budget, which may reduce payments to about 200,000 retirees who have over $1 million in assets in addition to the family home.

But National Seniors Australia Chief Executive Michael O’Neill told Gary Adshead it could have a significant impact.

 

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