29 July

A retired couple who own a $2 million home and with other assets of nearly half a million dollars would still qualify for an annual aged pension of over $41,000 per year. And look at the growth rates along the bottom line, in the past 30 years, all nearly 300%. This is often described as intergenerational inequity. But socially it’s much more interesting than that. This is the old refusing to be old and to adapt their expectations and lifestyles to that change in life. Forever young. For comparision the maximum a university student can receive in government payments to help them live while studying is about $17,000 per year.