Australia is getting older. Rising life expectancy brings with it the prospect of not years but decades in retirement. Can we afford the costs of old age? Will superannuation give retirees the standard of living they want? Is pension spending sustainable if it will triple over the next 40 years?
These are the pressing questions that were addressed by Dr Cassandra Goldie (CEO, Australian Council of Social Services), Jeremy Cooper (Chairman, Retirement Income at Challenger Ltd), and Simon Cowan (CIS Research Fellow and Target30 Director) at the Centre for Independent Studies forum: Can We Afford Old Age?
The speakers probed the age pension, superannuation, the family home exemption in the assets tests, and ways to give pensioners a good standard of living without placing a heavier burden on taxpayers.