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!

 

[Joseph Gallina]

Here we have yet another ill-considered policy from politicians out of touch with reality. Job seekers over 50 already have an uphill battle as employers prefer younger employees. Job seekers over 60 have almost no chance at all of being employed. Presumably, these job seekers approaching 70 will become Centrelink clients, adding to an overloaded system. What this policy will do is to move older age people from pension payments to Job Seeker payments until they reach age 70. Giving people a choice about working into older age is a good option, but not everyone is in physical shape to continue working. If the problem this policy claims to address is that the country is short of workers, then a more productive solution is to find positive ways to get people off unemployment benefits and into jobs rather than forcing people who have worked through their lives to work longer.

These ideas always seem to be dreamed up by armchair academics most of whom are in a position to retire when they choose on pretty comfortable superannuation schemes that allow access from as young as 55. Nurses. Aged carers, teachers, as well as the harder physical occupations we all know such as the building trades, manual workers etc don’t have the capacity in many cases to continue working past about 65 let alone 70 . Another issue to consider is; won’t the ‘horse have bolted’ by 2050? The ‘baby boomers ‘ will all largely have croaked it by then? The immigration rates may need to increase to bring in skilled younger people and the mix of people will have changed yet again.
Certainly it would be great to encourage part time work for a range of reasons including intellectual and social stimulation and so taking away the current financial disincentives would be a great move.
Why penalise a pensioner etc at all if they work? Sure, tax them as per the income tax tables but provide real incentives for those of us who want to work to do so.
I know that after 52 years in the paid workforce, having had many different jobs and even as a ‘pen pusher’, I was ready to retire at 68.
I basically enjoy my retirement and contributing to many local community activities that provide satisfaction from being involved.

Average male & female life spans in Australia

male	80.93 years
female	85.36 years

As we blokes die 5 years before women, we blokes should have full pensions paid at age 60 and women at 65. Not the other way round. Equal rights, blokes?

Yes, well done Rob for finding that statistic. I didn't get around to finding it when I was making my initial post on this issue. Your figures in a way back up my thoughts. You can see it on a post I made in replay to a post by 'shankherst'. By the way what site did you get it from please?

 

[Subduedshilo]

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!

Absolutely Not. Let them choose if they wish to continue to work from the age of 65 by letting them earn more before their pension is touched

 

[Brian S]

70? For some jobs it is not reasonable to expect people to work till then. Also age discrimination in employment impacts on many over 60s. And pension age rises need to be decided early in working life so we can all plan ahead. Until such issues can be overcome, no pension age rise can be justified.

 

[Maurie7]

Stop paying dole bludgers to sit on their arses and do nothing and there'd be plenty of workers.

 

[Rob44]

"Most people do not look after their health these days and the growing obesity rates, diabetes, dementia, and numerous metabolic diseases have increased dramatically and will continue to do so.,......Maybe it will be a start to getting people on the right track in terms of their health earlier in preparation for retirement".

So the floggings will continue whilst our joints and lungs and hearts and blood vessels do their normal thing of wearing out through age? Having lived a very physically active live, still having a brain that can cope with the complexities of my profession and having remained remarkably fit despite assorted issues caused by bits of me wearing out naturally through age, and never having smoked in my life, I am supposed to work till 70 years old? It would be nice if I could find a paying job in my chosen profession.

 

[Tipsy]

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 dont know what every one is going on about it reaching 70 as it is going to happen whether you like it or not

 

[lwaaleboer]

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 retired at the age of 75 by necessaty

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 Retired at the age of 75 by necessity, been a baker al my life which did not include sitting on my bum al day cooking up stupid, cruel rules. It is physically hard work but fortunately I was healthy and fit till the age of 70, after that it was downhill and was struggling to keep up. Since I retired my health improved a bit. It easy to say for those over paid lazy and arrogant bean counters to decide we have to work longer, they got no clue what hard work is. Big bloody deal that they have increased the amount you can earn before it effects the pension, if you can't work because the old body is breaking down this rule is as usefull as an ashtray on a motorbike or the more popular version as tits on a bull. It is the new normal to get screwed every time we walk into a supermarket, get fuel, pay our insurance , rates and power bills. I might be a pessimistic, grumpy old fart but I believe our society is going down the gurgle real fast.

 

[Nasira]

All the pension age should be 60 to 65 not going to be 70 I'm very much against it

 

[Loubeauxarts]

From my perspective when I first read this my immediate thoughts were ' that's funny in part that's exactly what I was thinking'. Most people do not look after their health these days and the growing obesity rates, diabetes, dementia, and numerous metabolic diseases have increased dramatically and will continue to do so. Therefore, apart from ending up being a burden on the medical industry, the only money to be made is on Doctors, Medicine and the 'Big Pharma'. You see nowadays a lot of people try to invest in their financial future but never think about investing in the future of their health. So as a consequence, retiring becomes very disappointing for a lot of people, because of their lack of being able to enjoy a life like they had hoped for. So, in effect what you are saying is correct in terms of health. Now of course there are those that get great satisfaction from working on longer and find it stimulating and rewarding even later in life, and some of those continue to look after their health and go on the have good retirement years. However, they are the exception rather than the rule. There's a lot more that can be discussed here and be said about the notion of raising the retirement age, but I suppose the purpose of this site is to provide people the ability to give their thoughts at a snapshot. Your post was good in terms of sparking people's thinking and because we know within ourselves that raising the retirement age will probably be inevitable at some stage, health and wellbeing should become the priority staring at a young age. Maybe it will be a start to getting people on the right track in terms of their health earlier in preparation for retirement.

Well said

 

[marls57]

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!

If people wish to work to 70 or beyond, let them. I feel the pension age should be brought back to 65, so that those who want to retire, can. If it is brought back, it would open jobs for the younger people who now get unemployment and allow them to work. I realise it wouldn't really solve a lot but it would reduce the unemployment rate and as someone said, by the time we reach even 65, we would have some money in super to help fund our retirement and save our government a bit of money. I see it as a win win situation.

 

[mooju60]

I do not agree with the age raise at all. I am now 63, have medical conditions that may impact my returning to any paid work, cannot get any assistance from government as my partner is just over the threshold, by not much. I cannot access the pension because I am not old enough.
Why can't we as people decide when we want to retire? Maybe from 60+ years up. I have worked since I was 15 in Australia and paid my taxes, so why now do I get penalised when I need the assistance and the age raised making it impossible to meet.
Will I get to 67 (God willing), and if I do, will it be raised again making it impossible again for me to apply?
I read a comment stating that it shouldn't be a worry and that we will all have enough super to retire on. Not sure which planet this person is on! Not everyone has super or enough if it to retire on. This was an ignorant statement in my mind.
It is easy for people in the govt to make these types of decisions when they have a very good income and will retire on an even better income. Unfortunately, the average person would not have that pleasure.
I believe that they are trying to eventually try to stop it and make the families be responsible for the older generation like many many years ago.
Not good!!

 

[Milica]

I do not agree with the age raise at all. I am now 63, have medical conditions that may impact my returning to any paid work, cannot get any assistance from government as my partner is just over the threshold, by not much. I cannot access the pension because I am not old enough.
Why can't we as people decide when we want to retire? Maybe from 60+ years up. I have worked since I was 15 in Australia and paid my taxes, so why now do I get penalised when I need the assistance and the age raised making it impossible to meet.
Will I get to 67 (God willing), and if I do, will it be raised again making it impossible again for me to apply?
I read a comment stating that it shouldn't be a worry and that we will all have enough super to retire on. Not sure which planet this person is on! Not everyone has super or enough if it to retire on. This was an ignorant statement in my mind.
It is easy for people in the govt to make these types of decisions when they have a very good income and will retire on an even better income. Unfortunately, the average person would not have that pleasure.
I believe that they are trying to eventually try to stop it and make the families be responsible for the older generation like many many years ago.
Not good!!

Have you applied for a sickness benefit - i think it is still called? or if you can't return to any paid work due to medical conditions, a disability pension, your Dr can help with a medical report. I truly hope the age/pension age does not go up - there are many people who as we are ageing have legitimate medical issues - a c/link payment is required as the person cannot work! Either a sickness benefit, disability pension or an age pension. Otherwise if the age goes up, it will feel like the age/p/age is out of reach - a lot of families would not be able to look after the older generation as they may not have work, home, savings, super - each and every persons life is different - to think this may happen is placing responsibility on young shoulders. You have been working all your life, contributing to society and this country. You now need help in the form of a C/Link payment.
Quality of life, safety, affordable housing, and security is what is needed even more as we get older and seniors most definitely need to be looked after, when all is said and done, most seniors are all someones mother and father & if not they still most certainly need to be looked after.

 

[KAY WILLS]

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!

Not for manual workers - cruel for these people, okay for 9-5 desk jockeys who are close to a water cooler and coffee maker Kay Wills

 

[Ezzy]

Sure people are living longer, but that is only one half of the equation isn't it? Living longer with what health concerns which may restrict their enjoyment of life?

Who was the last Polly or rather, what % of State or Federal Politicians work to age 70 or even 67? They are keen to retire on their big Taxpayer Funded Superannuation which possibly amounts to a pension for them. Their reason for retirement is usually, 'to spend more time with their family'. Walk a day in my shoes. See how hard these jobs are to do before making outlandish decisions like these.

Couldn't a Shift Worker or construction worker for example use family or health as a genuine reason for retiring before age 67?
I once oversaw Government employed bricklayers working on a Govt. complex come in, lay the maximum # of bricks required of them & then went home after approx 5 hours. I bet they won't need to retire from overwork like our private industry brickies (as just one example).

Ian Henschke on Radio 4BC said it all for me. Keep the retirement age down & give people the option of retirement!

 

[starrysnan]

It's interesting that members can see the pros and cons of this argument but our governments seem unable to get it. Maybe because they retire on a very generous pension scheme and don't have to worry about managing their finances.

 

[weezza]

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!

 

[Nettles]

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!

 

[weezza]

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 should be pushed back to 65, politicians are out of touch with reality, they have very high incomes and retirement WHICH we pay for. Depending on individual circumstances not everyone is able to have massive super. So don’t judge. Most financial issues are created by over spending by the governments of the day.. no exceptions, as always it’s funded the public paying taxes. The more they waste the more the tax payer pays, The pension is even below the poverty line. I worked as a hairdresser for 33 years then 20 years in the disability field. When you work in those health industries, and you do physical work: construction, heavy machinery your back, neck and shoulders suffer. Of course there’s the high risks of injuries. So it’s easy when you’re a pen pusher, sitting behind a desk and have no idea about real life as you just do statistics which are not accurate anyway. You have no idea about physical work.

 

[Nettles]

Obviously the people making these changes haven't done hard yakka for 50 years of their life. Would you seriously expect your parents to go out and work at that stage of their lives, instead of retiring and enjoying their grandkids, your children ? You can't keep working that hard for that long without something in your body wearing out, even if you do live a healthy lifestyle. Come on people be sensible !

 

[Clive King]

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'm a tradesman painter that is currently on income protection due to permanant injury and despite the injuries I have, I am amazed how someone in office can judge me and my colleagues ability to continue my trade beyond the age of 65. The trade of a Painter is very strenuous and taxing on the human body long term and although we stay 'fit' due to the exercise needed to perform our trade skills there is absolutely no way I would or could do my job at the same level needed at age 70. Maybe the desk jockeys making these decisions should be the ones working to age 80 to compensate for the real workers that are broken by the age of 60 let alone 65 or 67 as it is now!