http://www.abc.net.au/news/stories/2009/02/26/2501915.htmMilliona...

http://www.abc.net.au/news/stories/2009/02/26/2501915.htm

Millionaires on aged pension, charity calls for asset changes

Posted 1 hour 21 minutes ago

One of Australia's leading welfare groups says at least 400,000 millionaires are receiving the aged pension.

The Brotherhood of St Laurence is using economic research it commissioned to push for changes to the pension's eligibility criteria.

Spokeswoman Nicola Ballenden says the single biggest asset, the family home, should no longer be exempt from asset tests.

"Fourteen per cent of people who are receiving the aged pension are living in the wealthiest 25 per cent of households, where their net worth is around $1.6 million," she said.

"We think it is time to start discussing including the family home as an assessable asset for the pension."