People who own $10 million-dollar homes shouldn't be able to get the age pension, and the money saved by cutting their access should go to lower-income people, says a former adviser to the Henry tax review.

Melbourne University economics professor John Freebairn, who was an influential adviser to former treasury secretary Ken Henry's tax review when Labor was in government, also hit back at Treasurer Joe Hockey's comments that people should be able to tap into their super to buy housing.

Melbourne University economics professor John Freebairn was an influential adviser to former Treasury secretary Ken Henry's tax review when Labor was in government. Credit:Wayne Taylor

The idea has already been slammed by the architect of Australia's superannuation system, former prime minister Paul Keating, the head of the Coalition's financial system inquiry David Murray, and former Howard government treasurer Peter Costello.