The Sydney Morning Herald has reported that ‘the next increase in compulsory superannuation and a string of budget savings measures that have crimped retirees' incomes will be investigated in the first comprehensive review of the nation's retirement income system in 30 years.’

 

Michael McLaren talk to Ian Yates, Chief Executive of COTA (Councils on the Ageing) who says the review "would have a lot of ground to cover" and the pressure on the government to act on its recommendations would become "quite substantial".

 

Mr Yates says he expected the review to investigate the level of compulsory super, the asset level at which pensions were reduced, housing and aged care.

 

"It's quite a powerful terms of reference," he said. "I think clearly taxpayers' money is not being used as well as it could be to achieve best outcomes. There are different bits that don't fit together at the moment."