Incomes and pensions
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Australia's aged population is growing. The superannuation industry has a great role to play to ensure greater coverage than presently exists. On average, income from superannuation is considerably greater than the age pension, and clearly a more attractive proposition than relying on government social security benefits. Average weekly income from superannuation is 2.5 times the age pension but there are those superannuantes whose incomes are low, but who miss out on the various fringe benefits thus giving them a real income no greater than the pension.
Speech given to the Association of Superannuation Funds of Australia Ltd, Adelaide, 24 February 1987 by Adam Graycar, Commissioner for the Ageing. This speech is made available under the CC-BY-NC-ND 4.0 license: http://creativecommons.org/licenses/by-nc-nd/4.0/