A record number of retirees are now quizzing their local members and questioning financial advisors about how they too can receive free money from the government in the form of so-called “franking credits”.

71-year-old retiree Beryl Hattie contacted a local financial advisor today to enquire about getting her free money.

“They told me I couldn’t afford to get the free money,” says Hattie.

According to AFR chief economist Ben Neuman only around 4 per cent of the population can afford to receive the cash handout.

“It’s quite easy to get free money from the government. You just have to be wealthy, and then invest in the stock market,” says Neuman.

“Many retirees and soon-to-be-retirees who thought they could receive some extra free cash were wrong. Firstly, they need to get rich.”

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