Universal Pensions: Australia’s Lesson — 65% Top Tax Rates

How do other countries’ universal pensions work?

A forum member’s sober analysis: 1970s Australia had a universal pension, but means-tested (excluding homes) — the thrifty spent down before qualifying; top income tax hit 65%, and ageing made the system unsustainable. Food for thought for Hong Kong.

Could it work here?

Tax base, demographics, means-testing — each a hard battle. Debate aside, the safest personal move is maximising your MPF — low fees, right mix, never outsourcing retirement to policy.