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!

 

[Trudi]

Another misleading headline! I am so tired of entitled pensioners whingeing amd complaining about how tough they have it. I wonder how many have cashed in their super the moment they had access to it and spent it on caravans and overseas travel instead of making the money work for them!

The retirement age will not be raised, people can retire at any age if they so choose. Alternatively, if they want to, they can work until their nineties.

What is being increased, is the age at which people qualify for the age pension and, to be quite honest, NOBODY retiring now should have to rely totally on the age pension, considering that super has now been place now for more than 30 years!

This means that anybody in their 50s, has had superannuation contributions made by their employer for their entire working life to date!

The age pension is a safety blanket only, no longer an entitlement!

 

[Pommyoz]

TRAIN the YOUNG, get them off the dole. Mentoring should be mandatory. My sister and I have been cleaners all our lives, she has to keep going until shes 67! I am now retired 72. But the middle sister is a medical typist and sits most of the day, still works full time and she's 68. Retirement age should be based on your work and not age, How I hate educated people , as quoted " in their ivory towers" They are all brain and no brawn, and it's the brawn that tastes better than nothing.

 

[Ducky2]

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 believe that it’s unfair yes there are some who work in office or that type of work who would like to continue so let them but there are many who work in heavy labour who will not be able to continue as their body will give out. We should go back to every senior employee there must be 2 juniors this ensures training on the job more apprenticeship places are needed so funding for this would be beneficial to all trades including medical positions. If anything should be scaled down it should be unemployment for the younger sector who are physically able to work but unfortunately some are reared in unemployment homes and believe it is their right to do the same . I worked from 14. Years old until 65 but in my day there was no super so my super was what I could save. There are going to be many unemployed that will not have super as they have never worked the unemployment system needs to change to encourage people to work for a living

 

[Pommyoz]

Another misleading headline! The retirement age will not be raised, people can retaire at any ate they so choose and if they want to, they can work until their nineties.

What is being increased, is the age at which people qualify for the age pension and, to be quite honest, NOBODY retireing now should have to rely totally on the age pension, considering that super has now been place now for more than 30 years!

The age pension is a safety blanket only, not an entitlement!

You are so wrong, have you paid taxes, I have, for 50 years, and its government that has wasted it. We need to look to Finland for the answers, but then I guess you wouldn't agree with that either.

 

[Littleboy8]

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!

Leave it at 65

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.

and those well padded cushions are there huge bums! Oh and don’t forget those big fat jelly bellies! No baked beans on toast for them! Actually they probably don’t know what they are! And yes those so called job providers are so rude just like a young girl quoted on the next door app!

 

[Kelpie]

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

The point is that the Government may not be wanting you to access your super. Think about it.

 

[JayEeGeeP]

Well, in that case politician retirement age should be around 80 except it appears a number of them have senility problems. And by that age they wouldn't need the handouts they receive after retirement.

 

[Cyberchook]

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.

Not all, only those who have been able to save and could. Many are underprivileged in our society.

 

[Cyberchook]

All about the $ and changes to our society over the years

 

[Missypep]

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!

 

[Missypep]

Most people at 65 to 70 have a lot of medical problems that make it hard for them to keep working. Leave the pension age as it is,we have worked all our lives and paid taxes,now we need to rest Not work until we drop. Maybe if those in Government didn’t get so many huge pay rises they would not begrudge us the pension we need to live.

 

[Littleboy8]

Most people at 65 to 70 have a lot of medical problems that make it hard for them to keep working. Leave the pension age as it is,we have worked all our lives and paid taxes,now we need to rest Not work until we drop. Maybe if those in Government didn’t get so many huge pay rises they would not begrudge us the pension we need to live.

Well said totally agree!

 

[Glen44]

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!

Do all governments want us to have the pension just before we die

 

[Milica]

The fact that they can even consider raising the pension age is disgusting! Again & again trying to save monies from the Gov't coffers, but hitting the most vulnerable living on the poverty line. How about cutting back Politicians wages & there pensions just to help with the savings of monies-why is it i rarely hear of the wealthy that are being targeted or having to pay a price - the price of putting up the age pension age - truly will impact on the persons state of health, physically, mentally, emotionally & have an even bigger societal cost in another area-Health. What possesses these academics to come up with these numbers, when they have no idea at the grassroots level to even factor in all the unforseen circumstances that may happen just in our day to day living. I remember a very long time ago! when the pension age was 60 for men 55 for women! How could the help not be there for a person ageing, particularly with health related issues, worn out from diligently working all there lives, and if not physically, then burnout with trying to do the work of 2 people-in many areas especially in health, policing, prisons, & community services. The better age should be as it was 65 for men, 60 for women. Let people that have worked all there lives and contributed to society have some quality time left to look after themselves with there health and start to enjoy there lives. I agree with NSA's rejection of: to not put the pension age up - but instead letting seniors who are still able to work-to do so, if they choose to or need to. The younger unemployed, if asked would probably want to be involved in a workplace training scheme, not only would they be doing something to help themselves with there self-esteem/self confidence, but they would be learning the skills to be able to work in that particular area-whatever that may be. Going back some 50yrs ago now!!! I would go from workplace to workplace asking if there where any jobs and then leaving my name & address. Back then you did not need to be qualified - as you where trained on-the job - which was even better! Give young people this opportunity-give them the hope of a better future, for themselves and society, without financial distress - which is what will happen to seniors if they raise the pension age-financial distress, worry, concern, not able to eat properly, and now more older people becoming homeless - it is well understood that we need to take care of seniors in our society they still have so much to offer on many levels - working, mentoring, advice, training the young for skills required for jobs - and by just being there,
seniors can be a stable and caring influence for many young people, but also being there for themselves and other seniors - my apologies for my short story!_!:_)

 

[Young]

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!

Might sound good for those in the government, but like to see them do hands on jobs, age care nursing, a lot of trades and driving jobs. yes some might be able to do it but there would be a lot more out here that are struggling to work til the age of 67. The government should get out of there comfort zones, and do some of these heavy jobs. They also shouldn't get a pension any earlier that the public and it should be brought in line with everyone else

 

[Milica]

Do all governments want us to have the pension just before we die

Yes it sounds more like it!_!

 

[Littleboy8]

The fact that they can even consider raising the pension age is disgusting! Again & again trying to save monies from the Gov't coffers, but hitting the most vulnerable living on the poverty line. How about cutting back Politicians wages & there pensions just to help with the savings of monies-why is it i rarely hear of the wealthy that are being targeted or have to pay a price - the price of putting up the age pension - truly will impact on the persons state of health, physically, mentally, emotionally & have an even bigger societal cost in another area-Health. What possesses these academics to come up with these numbers, when they have no idea at the grassroots level to even factor in all the unforseen circumstances that may happen just in our day to day living. I remember a very long time ago! when the pension age was 60 for men 55 for women! How could the help not be there for a person ageing, particularly with health related issues, worn out from diligently working all there lives, and if not physically, then burnout with trying to do the work of 2 people-in many areas especially in health, policing, prisons, & community services. The better age should be as it was 65 for men, 60 for women. Let people that have worked all there lives and contributed to society have some quality time left to look after themselves with there health and start to enjoy there lives. I agree with NSA's rejection of not putting the pension age up - but instead letting seniors who are still able to work-to do so, if they choose to or need to. The younger unemployed, if asked would probably want to be involved in a workplace training scheme, not only would they be doing something to help themselves with there self-esteem/self confidence, but they would be learning the skills to be able to work in that particular area-whatever that may be. Going back some 50yrs ago now!!! I would go from workplace to workplace asking if there where any jobs and then leaving my name & address. Back then you did not need to be qualified - as you where trained on-the job - which was even better! Give young people this opportunity-give them the hope of a better future, for themselves and society, without financial distress - which is what will happen to seniors if they raise the pension age-financial distress, worry, concern, not able to eat properly, and now more older people becoming homeless - it is well understood that we need to take care of seniors in our society they still have so much to offer on many levels - working, mentoring, advice, training the young for skills required for jobs - and by just being there,
seniors can be a stable and caring influence for many young people, but also being there for themselves and other seniors - my apologies for my short story!_!:_)

Well penned go you!

 

[Margie56]

Typically it’s a group of academics espousing this recommendation. There’s a huge difference between sitting in an ivory tower at 70 and working in a labour-intense job at 70. They haven’t a clue!

Exactly what I was thinking when I read it! They're not exactly in tune with the real world and probably are in their 40's and 50's. No idea at all.

 

[Shedguy]

No doubt that the pension age will raise, people are living longer, ageing population etc. I worked till I was 70 purely out of necessity as I have very little super, I’m still in good health and probably could have kept on working but the Covid came along and working from home was an issue.
My sister who worked as a paralegal retired earlier this year aged 73!

 

[Agramon8]

The academics seem to be forgetting the fact that as technology grows job availability decreases. In 10-20 years the need for human workers will decrease drastically meaning far less job availability for the young. Each year a human manufactured product is replaced by a machine. There will be less need for a labour force as there will be less jobs available. The longer a person stays in their current job the longer a young person has to wait for that job to become available and the greater the possibility the person will be replaced by a machine anyway.