30% of seniors considering downsizing – Retirement Living Council wants disincentives removed

National Seniors has released a study of 2,018 Australians aged 50+ on their downsizing decisions. 30% are considering downsizing - the equivalent of 1 million seniors.

A major deterrent for 20% of all seniors and 30% of aged pensioners is the fact that any cash freed up in downsizing is subject to the age pension assets test. Mary Wood, Executive Director of the Retirement Living Council, adds to this the cost of stamp duty and has these two costs on their policy agenda with governments.