Retirees won't have to worry about their homes being included in the test to get the pension any time soon.
But they may be asked about the sustainability of the ballooning payment in a report set to be released in the coming weeks.
After ruling out the family home in pension eligibility tests last year, the government was forced into another dismissal on Tuesday.
"There is no plan," Social Services Minister Scott Morrison said.
It would not raise much money in overall efforts to rein in pension spending, which costs $42 billion a year, Mr Morrison said.
That's despite new research on Tuesday suggesting millionaire retirees are receiving up to $500 million a year in handouts.
The National Centre of Social and Economic Modelling says about 260,000 Australian households with a net worth of more than $3 million are receiving $800 million a year in welfare payments.
Within the group of households worth more than $3 million, NATSEM found those of pension age received about $3700 annually in cash payments compared to $2800 for the rest.
Treasurer Joe Hockey said it was important today's generation did not pass the buck to those of the future - a day after his parliamentary secretary raised the issue of the family home being means tested and questioned intergenerational fairness.
Mr Hockey said the Intergenerational Report due in the next two weeks will address the challenges and opportunities posed by an ageing population.
The treasurer has the opportunity to lay the groundwork for the report on Friday when he launches a seniors jobs plan framework.
"I think the nation is ready for a conversation about our future," he said.
Seniors lobby groups are open to some changes in the pension, but want wide consultation beforehand.
Both National Seniors and COTA Australia say the pension income and assets test could do with some tweaking, and singled out super tax concessions as an area for review.
Labor said the family home had to be treated with caution.
"You can't eat your family home, you can't pay your electricity bill with it," deputy leader Tanya Plibersek said.
Mr Morrison, however, is more concerned with the penalties imposed on retirees who sell their homes, because those that did would lose the pension and diminish their incomes.
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