Asset rich retirees are effectively taking taxpayer funds and preserving their exorbitant principle residences for the tax free benefit to their estate beneficiaries.
Reduce pensions and push for reverse mortgages. Great idea. Pensioners can release equity, tax free and they don't have to sell and downsize because the reverse mortgage can provide more cash than age pensions hence saving stamp duty and selling commissions and stress to the elderly in having to move.
