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To be eligible for the aged pension in Australia, retired individuals must be Age Pension age and meet an income test and an assets test.

To be eligible for the aged pension in Australia, retired individuals must be Age Pension age and meet an income test and an assets test. Doesnt this unfairly penalise those people who worked hard and saved for their retirement compared to those who might have lived a more relaxed lifestyle or splurged their money? Also consider the role of compulsory superannuation and discuss the possibility of unintentional or perverse outcomes with retirement planning.

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