One of the main problems with Government debt is because of the Aged Pension and people are living longer.
The problem could be solved if all people( if they wanted) received the Pension with less than 2 million
in total assets , and the Pension paid back from their estate on death. , and if people have less than $50,000 in assets there will be no debt to be repay.
To make this fair assets could not be sold or transferred 5 to 7 years before receiving the Aged Pension and
if assets are sold or transferred after recieving the Aged Pension the money would be paid back straight away.
People could decide if they wanted the Aged Pension or not.
There could be many other ideas the Government could have to make the system fairer.
