Hockey: Living longer is a good thing if we have the wealth to support it.
"Of course living longer is a good thing if we have the health to enjoy it and the wealth to support it.
And it would not be an issue if those entering their post-work years had the resources to support themselves.
But increasingly the burden of our ageing is being borne by other people.
Of Australians over the age of 65, four out of five receive a full or part pension. If we also take into account the concessionary health card then only 14 per cent of older Australians receive no government payments.
At least for the Age Pension, this situation is unlikely to be much different in 2050.
Despite spending billions of dollars in taxation benefits for superannuation, by 2050 the ratio of Australians receiving a full or part pension will still be around four out of five."
Hockey: Billions of dollars in taxation benefits for superannuation [produce no benefit].
Superanuation tax concession,1/3 goes to top 10% of wage earners,now cost the same as age pension,at $40bill per year.#auspol
— Wayne Rowles (@tumblegum) April 26, 2014
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