Hoarding $100s to ensure a pension

By Peter Martin
Updated September 25 2012 - 8:18am, first published 7:18am
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.

A former Reserve Bank official says the extraordinarily high number of $100 notes in circulation is the result of massive welfare fraud in which undeserving Australians get access to the pension.

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