They receive an amount that is greater then the earnings capacity of $1 million.
If you take into consideration the closet investment equivalent to the risk factor of a pension, it would be getting the deeming rate.
The politicians keep waffling on about simplifying the tax system, so pay everyone a pension and simply pay your tax at end of the financial year - include the pension as assessable income for tax purposes.
Just use the pension as the tax free threshold for tax purposes.
