Social Services and Other Legislation Amendment (Incentivising Pensioners to Downsize) Bill 2022 [Provisions]

Summary: National Seniors Australia supports legislation to incentivize pensioners to downsize. Downsizing barriers include effort of moving, age pension means test impacts, and costs. Proposed legislation may assist pensioners with housing decisions and exemptions. National Seniors advocates for policies to encourage downsizing voluntarily. Preferred policy includes means test exemption for those over 80 with home care package. Benefits of removing means test impacts include reducing premature entry into care and boosting economy.