Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

 

[CplMedic76]

Omg now I am 66 now and have worked all my life, had an work accident 3 years ago, need knee replacement unable at this stage as now have a large acute DVT for past two years, unwell in myself. Waiting now to see DVT Specialist. Wearing prescription compression stocking for rest of my life. I have in medical fir over 20 years could never do this job again !!!!! My whole life has been turned upside down. I need my age care pension.. This is terrible to think, how many other people have illnesses that stop them working. What is this world coming to!!!!
l will say get young ones off the dole and get them trained and out to work. How will they survive if they are not working and getting older and no trade or profession. The government is pathetic!!!!!!!!!! God help us

Agree completely, the young people who bleed the system and refuse to gain employment are the major drain on resources and the government allows them to sit on the beach and get paid to do this. This has been a problem for over a decade, and it is now a thought that “my parents never worked and lived on government handouts, so why should I have to work”.

 

[Alan1]

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

Retirement should be 65 that's fair many people look forward not working past that if they have a good super fund.

 

[lynstacker]

I am 65 & no longer able to work. As it stands now, I am eligible for the pension at age 67. I have worked hard ( sometimes 3 jobs) and more than paid for my retirement. How about we address the real problem & get the generations who have never worked & don't intend to, into the workforce to make their contribution. They are enjoying retirement now. It is time for them to pay for it.

 

[Cacou]

Why did we pay taxes all those years? It was for the pension. They keep raising the age every few years and it's not fair to the people who reach the age only to have it change.

 

[mcajmj]

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

It's one thing to say retirement age should go up ,the main point is can you get a job to keep you going till 70 . I'm 62 and can't find anyone to employ me at this point. I find that companies just don't want older people to employ. So instead of paying pensions the Government will probably be paying unemployment so what's the point. Maybe they are hoping that your partner works so you can't get unemployment and it doesn't show up on the unemployment figures. saying that you want to keep people in the workforce longer is ridiculous if employers are not prepared to do that. I see that there are a large amount of applications for each job advertised so it's not like there is a worker shortage , except for professional or trade jobs were you need to take 4 years to get qualified so that kind of defeats the purpose

 

[StarTrekker]

As a retired Psychiatric Nurse, there is no way it is safe to ask people over 60 to work in that profession. We can no longer move fast enough to avoid injury when a patient is aggressive & so the injury rate would increase dramatically & be a drain on govt funds to support them through their injury time. These people need to get out of their ivory towers & get into the real world before making these suggestions.

I'm also a retired General Nurse and I have just got to 65. I can no longer work due to spinal deterioration and I have had my Cervical and Lumber spine fused starting 20 years ago. I did bookkeeping for a while but now I cannot walk for more than 100 metres or sit for more than an hour.
It would be nice to see all those that work in an office try and be on their feet with lifting and bending for a full 8 hours. They wouldn't last a week.

 

[Suzanne rose]

It’s just ridiculous to think a tradie can work till 70 my son in law only in early 50s and suffering from being a tiler and working on his knees and what’s the big fuss about the younger having to support the seniors when in the next 20 years most will be using there on money from their super

its ridulous to think a tradie can work till their 70 my son in law is a wall and floor tiler and already has knee and back pains in his early 50s from being on his knees and lifting tiles. Also surely within the next 20 or sooner most people will be living on their own super and not requiring help from the government

My son is a builder and at 38 his back is gone but he pushes through and never has had a day off fir sickness.
I'm going to hate to see how he is going to be when he is 50

 

[mcajmj]

A dont see what all the fuss is about, people will have plenty of super squirreled away by the time it gets moved to 70. So people will simply self fund their retirement for the last few years before hitting the trigger age for the govt handout.

You have to be kidding super didn't come in until later in my working life.I have never been on a huge pay . They say you need a million in super to survive I don't even have a quarter of that and have to dip into it now because can't find work. Don't assume that everyone in their 60 s has a huge super fund . The average wage is not 80000 as some suggest more like 45000

 

[trakn]

And treat politicians the same, when they finish representing us, ha that's a joke, no pension if they work, if they leave in disgrace, no pension either. They make rules against us for their own greed.

Politicians should get the exact same pension and conditions as the workforce ,not the massive one they receive, that we pay for.
Their super should also be managed by a super fund just like the rest of us . Not one funded by us the tax payers. Same rules and regulations. Thay would soon see the light. A gfc here a wall Street crash there. They may realise the true problems. Not just putting their snouts in the trough

And treat politicians the same, when they finish representing us, ha that's a joke, no pension if they work, if they leave in disgrace, no pension either. They make rules against us for their own greed.

 

[Anja]

And treat politicians the same, when they finish representing us, ha that's a joke, no pension if they work, if they leave in disgrace, no pension either. They make rules against us for their own greed.

If they applied the same rules to politicians and everyone was on the same keel/page then I am 100% sure things would change and change quickly. Sadly they are sitting on very soft comfy well padded cushions with lots of additional perks, of which I am guess 99% we know very little about. Sure some (very few at the top) forget far to easily and quickly what life was like before they got to their current elevation.

 

[mummygoth]

Why did we pay taxes all those years? It was for the pension. They keep raising the age every few years and it's not fair to the people who reach the age only to have it change.

As I understand it, the pension fund was raided by howard & costello & put into consolidated revenue.

 

[StarTrekker]

As I understand it, the pension fund was raided by howard & costello & put into consolidated revenue.

Actually it was Malcom Fraser who did it.

When age pensions were not welfare

It should be no surprise that many older Australians believe they have an entitlement to the age pension. Like an early version of the superannuation guarantee, pensions were once directly funded by personal tax.

www.firstlinks.com.au

 

[Kelpie]

Simple they do

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's t

 

[Chrisaw14]

I retired at 66 and was very bored, went back working but in a more physical job and continued working until 79. The last five years only part time at 20 to 25 hours per week. Feel sure the physicality was worthwhile. Now 84 and enjoying retirement.
We are all different, and agree those who have been in a physical occupation do wear out earlier and this should be understood and they be allowed to retire earlier rather than those in sedentary occupations that go go on longer.

 

[Wandiwa]

Why did we pay taxes all those years? It was for the pension. They keep raising the age every few years and it's not fair to the people who reach the age only to have it change.

I have to disagree with you completely. We all paid taxes to build roads, schools and hospitals, to fund the military and police force. To fund the fire brigades and the justice system including prison construction and manning etc. Pensions were originally started to fund the last couple of years of peoples lifes. Now we are all living longer the govt cant afford to hand out pensions for 20 yrs, its up to individuals to fund themselves.

 

[PeeBo]

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

It is not so much the raising of the age; it is more about what we are used to and do not like change. A complaint is a human response to the indoctrination we are akin to.
People complain about old age when work is an issue, and suddenly, everyone has ailments. My ailments started long before I was sixty-five. I did not sit down and worked till I was sixty-eight, and employment ceased as the business was sold off.
I agree that men and women should retire at the same age. I could never understand why women were retiring at sixty while most men burnt their butt off working till sixty-five and often dying a couple of years later while women lived a decade or two longer.
There has to be a new benchmark as the human race lives longer and healthier. Not for the convenience of the government and their need to pay retirees a livable pension regardless of super.
In another decade or so, many more people will be retiring with super as the education bites, and people understand the need for this investment. Coming from a country with a different system, I was not so fortunate.
So my answer is basically to stop moaning and move with the times. Seventy seems a healthy age. The problem and acceptability are where does it change? Do you do it in one leap or in increments over a period of five years? Whichever way it goes, it is going to have its moaners and groaners, mostly by those who have not prepared for retirement, and suddenly it was on their doorstep.
Happy retirement, peeps; no matter your health or financial situation, you have a life, and most have a family. Enjoy.

 

[Reet]

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

I worked until I was 67 and only gave up then because I was diagnosed with breast cancer. If a person is able and willing to work until they are say, 70 then they should be allowed to but I don't think the pension age should be raised to that age.

 

[Kelpie]

Simple. They don't want you to have access to your super just in case they need it for something we are not happy about.
The Super funds hold well in excess of $3 TRILLION (YES TRILLION NOT BILLIONS.That is more than 3,000.00 billions dollars which is close to twice the total Australian GDP) and that is a form of a security for any Government. The longer they can delay it the better.

 

[Gsr]

I think anyone over 60 who has worked in a labour intensive job should be entitled to retire on the pension, or on a payment equivalent to the pension amount and with all the benefits that come with the pension. Being on job seeker the money is a lot less and no extra benefits so people can’t survive on it. Also how are all the young people on benefits going to survive when they are older since they won’t have any super to draw on as being on welfare payments doesn’t pay into a super fund. There is no way the government will ever be able to do away with the pension. They should get rid of the pension for all older people with enough super or income, including ex politicians. This would save enough money in the budget to fund pensions for people who need them. I still work part time, I am about to drop my hours down so will receive more pension and pay less tax. There is really no incentive for me to keep working. It annoys me that my income affects both my husbands and my pension, we both lose part of the pension because of what I earn, but the work bonus we both get, including the extra $12,000 the government allowed us is individual. My husband has $12,300 work bonus sitting there but because he doesn’t work we don’t get any benefit from it. This is very discriminatory, we lose from both pensions for me working but the work bonus benefit is applied individually. Typical rip off rules applied by government through Centrelink.

 

[Squizzy1]

Our Senior Discount Club members might remember the good old days when men looked forward to retiring at 65 and receiving the Age Pension, while women's pension age was set at 60.

However, times have changed over the past decade, with the introduction of incremental rises in the pension age, taking it to 67 for all Australians from 1 July 2023.

But how would you feel if the pension age was raised even further, to 70?

View attachment 23327

Starting next month, the eligibility age for the Age Pension will be raised to 67. Credit: Shutterstock.

Backtracking a little, it was the Rudd Labor government who legislated the pension age increase to 67. However, in May 2014, the then Treasurer Joe Hockey made waves by announcing the pension age would rise to 70 by 2035, a proposition that was met with public outcry and faced serious backlash.

Remember the famous slogan: 'Only a bloke who's worked in an office his whole life would think you can work until you're 70'?

Years later, Scott Morrison officially dropped the age-70 target as a Liberal policy. Micheal McCormack, his deputy, said it was 'probably a step too far', adding, 'I think if you are a tradie, or a brickie, or a shearer in rural and regional Australia, you don't want some suit in Canberra telling you you're going to have to work until you're 70'.

While many can rejoice for now, as all Australians will soon have the same retirement age for the first time in over a decade—there is no guarantee that the debate over raising the pension age is over.

Recently, a group of academics revisited the statistics and released a report suggesting that further pension age increases may be warranted to ensure the country has a sufficient supply of workers in the future.

Macquarie University Business School Professor Hanlin Shang and his co-authors recommend three more pension-age increases over the next 27 years, stepping up to 68 by 2030, 69 by 2036, and 70 by 2050.

The proposal is based on factors such as Australia's low birth rate, which impacts the number of workers available to sustain an ageing population.

Professor Shang says, 'Fewer people in the working group and more in retirement will make the old age dependency ratio (OADR) higher. What this means is there are fewer working people to support elderly people, and with more elderly people in the population, this will create a burden for the government pension system.'

Unsurprisingly, the proposal has been met with criticism. One Australian worker told a news outlet, 'Try and be a tradie at 70,' while a retired nurse added, 'People in their 60s are exhausted. I've got back pain from nursing. I cannot work anymore. People should not have to work in old age.'

In response, National Seniors Australia, a non-profit membership and advocacy organisation, has firmly opposed the proposal to increase the pension age to 70. They argue that numerous individuals leave the workforce due to poor health and are unable to sustain employment. Instead, they propose an alternative solution: providing incentives to those who wish to work for a longer period.

Their campaign, known as Let Pensioners Work, advocates for a reduction in the income test taper rates. This will enable individuals to retain a larger portion of their pension if they opt to continue working. National Seniors Australia believes this approach is more equitable than raising the pension age, as it recognises and rewards individuals who have the desire and necessity to work.

As Chief Advocate Ian Henschke recently told Radio 4BC, 'If you are on a pension, you want to keep working; let them work, and it'll be a win for the economy, a win for the pensioners themselves, and a win for the government'.

Key Takeaways

• The pension age for all Australians is set to be 67, effective on 1 July 2023, after incremental rises were introduced a decade ago.
• In 2014, then Treasurer Joe Hockey announced plans to further raise the pension age to 70 by 2035, but this was met with public backlash and was later dropped as Liberal policy.
• A group of academics have recently released a report suggesting three more pension-age increases over the next 27 years, reaching 70 by 2050, to ensure a sufficient supply of workers in the future.
• National Seniors Australia, a not-for-profit membership and advocacy organisation, rejects calls for raising the pension age to 70 and has instead launched the Let Pensioners Work campaign, advocating for reduced income test taper rates to provide incentives for those who choose to work longer.

Members, we'd love to hear your thoughts on this matter. Should the Australian pension age remain at 67, be raised to 70 as proposed, or revert to 65 as previously set? Are there any alternative suggestions that would better suit the needs of the ageing population? Share your opinions in the comments section below, and let's talk!

Ask the French, Australians are too apathetic.