1 of 1
Story summary
- Treasurer Jim Chalmers will announce the age-pension’s budget cost will drop $15 billion annually.
- Treasury data shows pension spending will fall from 2.3 % to 1.8 % of GDP by the mid-2060s.
- The intergenerational report projects 9 million Australians will be over age 67 by 2066.
- It also predicts pensioners will shrink from 66 % to 52 % of retirees.
- One Nation’s Barnaby Joyce proposes renters withdraw a quarter of the 12 % super guarantee for three years.
