Importantly, the report also highlighted several options to boost your retirement income:
In terms of this last point, and depending on your personal circumstances, the Government’s Pension Loans Scheme—a voluntary non-taxable loan secured against your property—can be an effective option.
In this animation, we illustrate a brief overview of the Pension Loans Scheme. However, please see here for a more detailed overview.
*Australian Government, Treasury. (2020). Retirement Income Review: Final report, July 2020.