A new report from the CIS has found that the cost of the pension per worker has doubled since 1970, and the full rate of the pension is now seven times what it originally was - thanks in large part to more generous policy changes. The CIS report recommends that the family home be included in the pension assets test - as well as lifting the age at which the pension can be accessed in line with rising life expectancy. The CIS estimates its reforms could save $15 billion a year.
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