Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697633470483.pdf (Australia)
Pensions can be either by the government funded or self funded.

The government funds pensions provided your assets do not exceed $556k for singles, $837k for couples, $759k for single non home owners or $1040k for couple non home owners.

Self funded pensioners who are in a more vulnerable position than government guaranteed pensioners can have a maximum of $1600k in their pension fund.

So will the Labour Party exclude all pensions from the new dividend imputation rules?
Inquiry into the implications of removing refundable franking creditsSubmission 57 - Attachment 3