Retirees could be left with no choice but to sell their family home under a secret plan being considered by the federal government.
In a speech today the Treasurer Josh Frydenberg backed the Retirement Income Review findings that more retirees should use their savings more “efficiently” – which includes selling the family home.
The use of the “efficiency” code word is a nod to the extreme elements of the backbench that the Treasurer might follow through on their scheme to cut super.
This underhanded plan to break an election promise and cut super would leave the average 30-year-old couple $170,000 less at retirement. To make up for the shortfall a government review, the Superannuation Minister and now the Treasurer have all indicated retirees should sell down the home.