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A comment on Americans Are Putting Billions More Than Usual in Their 401(k)s. Parent comment

Re:Americans Are Putting Billions More Than Usual in Their 4... by merpnderp on Thursday January 05, 2017 @02:34PM (#13330565)
How does Australia deal with retirees with too little or nothing in this account, aka the poor who are past working age?
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Re:Americans Are Putting Billions More Than Usual in Their 4... by jacalata on Thursday January 05, 2017 @03:05PM (#13330851)
We have an old-age pension if your income and assets are below a certain amount: https://www.humanservices.gov.au/customer/services/centrelin...
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Re:Americans Are Putting Billions More Than Usual in Their 4... by jackvalentine on Thursday January 05, 2017 @03:11PM (#13330901)
And in my opinion the assets test is too generous.

My grandmother is sitting in a multi million dollar inner suburb property and claiming a pension. It seems harsh but I think she should be required to get her pension via the Pension Loans Scheme: https://www.humanservices.gov.au/customer/services/centrelin...

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Re:Americans Are Putting Billions More Than Usual in Their 4... by jacalata on Thursday January 05, 2017 @03:41PM (#13331192)
There is certainly room for discussion on the personal home exemptions to the asset test, I agree.
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