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I presume the 1% figure is of all adult Aussies?? A person nearing retirement is far more likely to have more assets than a younger person so it is not correct to assume (from only 1% have over a million) that 99% of Australians will qualify for a part pension.

Although China is wrong about most things he has consistently stated he is talking about the assets of a couple, of which the limit is 1.05m.

How do you know who is on the pension and who not? How do you know the typical pensioner has 800k in assets? Yet you can't even use the computer. The upper limit of assets for a part pension is not 800k - you even provided a link to what it was. Try again China.

Many elders houses are not mansions, merely in an area that had large price appreciation. Should we force grandma to sell her home of 40 years and move to the outer burbs to fund her retirement? A couple with 800k of investments will not receive a 30k pa pension. Under the asset test they...