Labor to give pensioners greater financial incentives to downsize homes

Social services minister says thousands' of older Australians should benefit from change

Pensioners will be given more support and financial incentive to downsize their homes in a bid to boost housing stock for families, as the Labor government moves to legislate an election commitment first proposed by the Coalition.

The social services minister, Amanda Rishworth, said she hoped thousands" of older Australians would benefit from the change, which will reduce the impact on pension payments if homeowners make a windfall from their property sale.