The grey economy: how retirees rort the pension

By Peter Martin
Updated September 25 2012 - 6:08am, first published 5:50am
Welfare fraud on a massive scale ... elderly people wanting to get the pension are hiding their income in cash to ensure they qualify for the means-tested benefit, former Reserve official Peter Mair says.
Welfare fraud on a massive scale ... elderly people wanting to get the pension are hiding their income in cash to ensure they qualify for the means-tested benefit, former Reserve official Peter Mair says.

ELDERLY Australians committing welfare fraud on a massive scale are behind the extraordinarily high number of $100 notes in circulation, a former senior Reserve Bank official says.

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