Nat/act/nzf 2023

[moka]

Neither do I but I wonder what the cost will be of means testing.
It has often been said that the cost would outweigh the benefit but I have never seen actual figures.
From what I have seen of Australia's system it is complicated and probably costly.

Based on the information provided in the search results, the administrative costs of means testing in Australia's retirement pension system can be estimated as follows: The overall operational costs of the benefit system in Australia, including means testing, are approximately 3.6% of total benefit outlays. This figure includes depreciation of assets and assumes equal administrative effort across all benefits. To put this in perspective, the search results compare Australia's administrative costs to those of the United States Social Security Administration, which are estimated at around 1.4% of total benefit outlays in 2013. It's important to note that:

1. This 3.6% figure covers the entire benefit system, not just retirement pensions.
2. The cost includes all administrative aspects, not just means testing.
3. Comparing costs across countries with different administrative arrangements may not provide a perfect like-for-like comparison.

While the search results don't provide a specific figure for the cost of means testing alone, they suggest that Australia's targeted approach, which includes means testing, is relatively cost-effective. The country manages to achieve low public pension outlays as a proportion of GDP while maintaining low poverty rates among the elderly. The search results also indicate that the potential economic efficiency gains from a well-designed means-tested system may outweigh the administrative costs and potential disincentives to work and save. However, more research is needed to fully understand how to best capture the efficiency-improving potential of means testing.

I haven't read this document. https://mrdrc.isr.umich.edu/publicat...df/Piggott.pdf
MEANS TESTING PENSIONS: THE CASE OF AUSTRALIA

This policy brief was likely written sometime between 2014 (when the age 70 proposal was announced) and 2018 (before the age 70 proposal was abandoned).

[Panda-NZ-]

Yikes the conservative govt did want to raise retirement to 70 in AUS didn't they. A figure of 67 was settled on as a compromise.

What employment do they think a 68 year old is suitable for?

[ynot]

Yikes the conservative govt did want to raise retirement to 70 in AUS didn't they. A figure of 67 was settled on as a compromise.

What employment do they think a 68 year old is suitable for?

Almost anything.