David49
nanna8
State pensions should only go to the financially stressed. No one else. As with most countries. Use the money saved to build up defence.
Agree with that, my sister in Brisbane manages fine without
Australia's experience is actually that it evolved through a series of reforms over roughly 75 years, with major changes in 1960, 1969, 1976, and 1985, rather than through one long scheduled phase-in.
One thing that often surprises people when comparing pension systems internationally is that Australia is unusual among developed countries in relying heavily on a means-tested public pension, while also encouraging private retirement savings through the compulsory superannuation system. That combination evolved over decades rather than being introduced all at once. So Australia don't have a magic wand any more than any other country.