Pension privilege in the crosshairs

Age pension policy ineffectiveness has become so obvious Canberra can no longer ignore it. The sooner Joe Hockey revisits his approach, the better.

Comments by the Business Council of Australia and Treasurer Joe Hockey suggest that welfare and entitlements for older Australians are now on the agenda for the May budget. Pension and superannuation policies will need to be addressed, among other things, if the government wishes to create a sustainable budget balance and avoid an increasing budget imbalance.

Budget forward estimates are rarely accurate, frequently revised and political fodder for both political parties but they possess one undeniable truth: with an ageing population the current long-run budget is not sustainable.

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