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$1.5 Trillion Pension System Failing as Aussies Tick Bucket List
BloombergLink to more items from this source
Apr. 1, 2015
"More than two decades after Australia set up a compulsory retirement savings scheme, known as superannuation, to wean people off of state pensions, over-generous means testing has resulted in four out of five retirees still being eligible for such welfare. The nation's A$40 billion ($30 billion USD) annual pension bill accounts for 10 percent of government spending and is destined to grow in a country with one of the world's highest life expectancies."

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