Viral sign from a tradie sparks wider debate: Effects of raised retirement age extend beyond seniors

At the Seniors Discount Club, we consider managing finances and planning for retirement a key concern for our members. We know you have worked hard to contribute to this nation's prosperity.

Unfortunately, secure and comfortable retirement is becoming more challenging to attain with each passing year. We aim to keep you updated on issues concerning your future security and comfort, and that's just what this article is all about.



Recently, a photograph of a determined Aussie tradie asking a valid question about our nation's retirement age gained attention online—reigniting a long-debated discussion. The photo showcased the tradie's protest against a plan to raise the pension eligibility age, evoking a widespread response from thousands.

The sign reads, 'Only a bloke who's worked in an office his whole life would think you can work until you're 70.'


Screen Shot 2023-06-30 at 11.48.01 AM.png
The spike in retirement age affects not only hard labour workers but also extends to other demographics. Credit: Shutterstock.



The debate gained momentum with the upcoming increase in Australia's pension age to 67 in July, with further speculation about the retirement age possibly rising to 70 by 2050. This spurred a wave of concern amongst the hardworking Aussies, many believing 70 is too long to maintain strenuous work routines.

'I've been a sign painter climbing ladders since I was 16. I'm 67 now and had a hip replacement three years ago due to wear and tear,' one worker shared.

'We need to elect a few tradies into parliament and start getting things back on track,' another expressed, supporting the unheard voices of physical labourers everywhere, suggesting that the retirement age should be even younger.

Their concerns were clear, 'wearing out' and burnout are real, and these aren't just limited to labourers but other professions demanding physical exertion like retail work.



Dr Lisa Denny, a workforce demographer and Adjunct Associate Professor with the Institute for Social Change at the University of Tasmania, shed light on this issue. She spoke about another demographic that needs to brace for an extended career—the young Australians just entering the workforce.

According to her, in the current economic climate, overwhelmed by high inflation, rising rent and interest rates, low wage growth, and cost of living pressure, the ability to contribute more to savings and superannuation is indeed 'severely curtailed'.

'With homeownership being harder these days, the likelihood that younger generations will have to work for longer is pretty high,' Dr Denny explained—a sobering outlook if there ever was one.



A team of academic experts, led by Professor Hanlin Shang from Macquarie University Business School, added to these concerns with the reveal of their report. It suggests three additional increases in the pension age over the next 27 years, aiming for a retirement age of 68 by 2030, 69 by 2036, and eventually 70 by 2050.

Their research highlighted the impacts of Australia's low birth rate on the future workforce.

They warn that fewer people in the working age group and more retirees will increase the old age dependency ratio (OADR), burdening the government pension system. With a higher OADR, fewer working people will support the elderly population.

These pressing issues aren't just confined to tradies or those doing hard physical labour. Now more than ever, it is essential for everyone to plan and prepare for retirement appropriately.

Early planning and saving for the future is essential, regardless of occupation.



For those with children or grandchildren, Dr Denny offered some advice. She urges them to understand what superannuation is for, contribute more, and not wait until they're in their 60s.

'If we don't want to work until we're 70, then we need to make sure we're planning appropriately for that,' she said.

Those approaching retirement today have the benefit of the favourable housing market. She pointed out that 'Homeownership has always been something to help shore up retirement,' and the current retirees might have done well in the housing market, setting themselves up for a more comfortable retirement.

Key Takeaways

  • The eligibility age for the Australian pension is set to increase to 67 from July 1st this year, with a suggestion that it may need to rise to 70 by 2050, prompting societal debate.
  • The spike in retirement age affects hard labour workers and extends to other demographics.
  • Academics led by Professor Hanlin Shang from Macquarie University Business School suggest three additional increases in the pension age over the next 27 years.
  • Workforce demographer Dr Lisa Denny argued that younger Australians might have to work for longer due to the difficulty of obtaining homeownership and other economic pressures.



Regarding retirement, it's important to remember that one size doesn't fit all. This complex matter involves several factors, including age, occupation, health, personal savings, and homeownership. It's crucial to be flexible and plan according to individual circumstances, regardless of profession.

In the end, one thing is clear: Australians of all ages need to start planning for their financial futures now more than ever. The trend of increasing retirement age is concerning, and it's time for us to assess our financial plans and adapt them to a potentially longer working life. By doing so, we can ensure a secure and enjoyable retirement!

We'd love to hear your thoughts on this article. Feel free to share them with us in the comments!
 
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At the Seniors Discount Club, we consider managing finances and planning for retirement a key concern for our members. We know you have worked hard to contribute to this nation's prosperity.

Unfortunately, secure and comfortable retirement is becoming more challenging to attain with each passing year. We aim to keep you updated on issues concerning your future security and comfort, and that's just what this article is all about.



Recently, a photograph of a determined Aussie tradie asking a valid question about our nation's retirement age gained attention online—reigniting a long-debated discussion. The photo showcased the tradie's protest against a plan to raise the pension eligibility age, evoking a widespread response from thousands.

The sign reads, 'Only a bloke who's worked in an office his whole life would think you can work until you're 70.'


View attachment 23742
The spike in retirement age affects not only hard labour workers but also extends to other demographics. Credit: Shutterstock.



The debate gained momentum with the upcoming increase in Australia's pension age to 67 in July, with further speculation about the retirement age possibly rising to 70 by 2050. This spurred a wave of concern amongst the hardworking Aussies, many believing 70 is too long to maintain strenuous work routines.

'I've been a sign painter climbing ladders since I was 16. I'm 67 now and had a hip replacement three years ago due to wear and tear,' one worker shared.

'We need to elect a few tradies into parliament and start getting things back on track,' another expressed, supporting the unheard voices of physical labourers everywhere, suggesting that the retirement age should be even younger.

Their concerns were clear, 'wearing out' and burnout are real, and these aren't just limited to labourers but other professions demanding physical exertion like retail work.



Dr Lisa Denny, a workforce demographer and Adjunct Associate Professor with the Institute for Social Change at the University of Tasmania, shed light on this issue. She spoke about another demographic that needs to brace for an extended career—the young Australians just entering the workforce.

According to her, in the current economic climate, overwhelmed by high inflation, rising rent and interest rates, low wage growth, and cost of living pressure, the ability to contribute more to savings and superannuation is indeed 'severely curtailed'.

'With homeownership being harder these days, the likelihood that younger generations will have to work for longer is pretty high,' Dr Denny explained—a sobering outlook if there ever was one.



A team of academic experts, led by Professor Hanlin Shang from Macquarie University Business School, added to these concerns with the reveal of their report. It suggests three additional increases in the pension age over the next 27 years, aiming for a retirement age of 68 by 2030, 69 by 2036, and eventually 70 by 2050.

Their research highlighted the impacts of Australia's low birth rate on the future workforce.

They warn that fewer people in the working age group and more retirees will increase the old age dependency ratio (OADR), burdening the government pension system. With a higher OADR, fewer working people will support the elderly population.

These pressing issues aren't just confined to tradies or those doing hard physical labour. Now more than ever, it is essential for everyone to plan and prepare for retirement appropriately.

Early planning and saving for the future is essential, regardless of occupation.



For those with children or grandchildren, Dr Denny offered some advice. She urges them to understand what superannuation is for, contribute more, and not wait until they're in their 60s.

'If we don't want to work until we're 70, then we need to make sure we're planning appropriately for that,' she said.

Those approaching retirement today have the benefit of the favourable housing market. She pointed out that 'Homeownership has always been something to help shore up retirement,' and the current retirees might have done well in the housing market, setting themselves up for a more comfortable retirement.

Key Takeaways

  • The eligibility age for the Australian pension is set to increase to 67 from July 1st this year, with a suggestion that it may need to rise to 70 by 2050, prompting societal debate.
  • The spike in retirement age affects hard labour workers and extends to other demographics.
  • Academics led by Professor Hanlin Shang from Macquarie University Business School suggest three additional increases in the pension age over the next 27 years.
  • Workforce demographer Dr Lisa Denny argued that younger Australians might have to work for longer due to the difficulty of obtaining homeownership and other economic pressures.



Regarding retirement, it's important to remember that one size doesn't fit all. This complex matter involves several factors, including age, occupation, health, personal savings, and homeownership. It's crucial to be flexible and plan according to individual circumstances, regardless of profession.

In the end, one thing is clear: Australians of all ages need to start planning for their financial futures now more than ever. The trend of increasing retirement age is concerning, and it's time for us to assess our financial plans and adapt them to a potentially longer working life. By doing so, we can ensure a secure and enjoyable retirement!

We'd love to hear your thoughts on this article. Feel free to share them with us in the comments!
70 is too old for anyone unless you want to keep working. Like it or not, most of us slow down physically and mentally. I'm almost 63 in a job mentally challenging and even younger people can't cope. Many older people also help care for grandkids while the parents work, so this will no longer be an option. Also, with superannuation, not many people will rely on the aged pension in the future. Granted people coming up for retirement in the nearer future may depend on the aged pension because compulsory didn't super didn't start until the early 90's and only at 6%.
 
I am 63 and have been working since I was 16 yrs old. I am not working until I'm 67, I will put myself on unemployment until the ridiculous retirement age of 67. Retirement age should never of been increased, it should be darn lowered back to 60 yrs of age!!
 
I am 63 and have been working since I was 16 yrs old. I am not working until I'm 67, I will put myself on unemployment until the ridiculous retirement age of 67. Retirement age should never of been increased, it should be darn lowered back to 60 yrs of age!!
yes I agree I have retired now but worked till I was 67 because of my now ex I had to we decided early on that we would put extra into his super as I wasn't working at the time the as we both got up in age I was able to go back to work and had a sml super then he left so he toke the large super and I was left with the house but little to none in super so may be they only want us to build our super up so we drop off the porch and leave a wealthy young kids as they say we are living longer
 
Totally agree with the tradies, my husband is self employed & works in the rural sector. At 64 his hands can no longer do simple tasks, he has little feeling in them & they are often painful. He had by-pass at 54 (family history). 70 is not achievable! Fortunately I had paid into Super since 82 as a health worker. I am hoping when the time comes, we can at least get the govt. benefit of HCC, reduced rego etc.
 
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Sometimes its entirely appropriate to swear and my comment of ITS BLOODY DISGUSTING them doing this applies as it adds to all of the many ridiculous decisions taken by politicians who only consider their own lifestyle demographic.

This Law change to me is a cry for help identifying that they really do need to get out more. Of course, 67 years old people can operate a computer, as a clean neat job and older age wisdom can easily interact with people of all ages, I agree.

I only registered my A.B.N two weeks back, to do just that and I haven't a clue yet how to do that, but I have the desire and the time to learn. But a person being able to function well at their job at whatever age, certainly doesn't apply to everyone.

President Biden's ongoing public demise is a sad thing to watch. Is his age being considered for office workers?

There's just no forward thinking going on by our leadership. It's like the nation as a convoy is being led at speed directly at a lighthouse. So many in our Nation are out of work. so many immigrants being brought into a country with a long-term housing shortage, limited job prospects and now this?

The Whizzdumb of Politicians, cancelled the Northern Rivers railway service, touting that a rail trail serves the same function for all age groups. That is so bloody hilarious.

Why not CANCELL ALL CITY SERVICES AS WELL, if it's so great for society. it's like they have no clue at all.
.
All of the clocks in Canberra must have NOW at every location instead of Numerals on it because metaphorically speaking they do not seem to know what time applies, for the rest of us.

Hard heavy dirty dusty work is just that, as a great many of us know and many older Australians have to get up in the wee hours to get ready for work, not just to go for a piddle.

Wow, what a world we are creating. Back in my sixties, I had a serious heart area complaint after being caved into by a bouncing log, torn shoulder muscles and spent two haaaard years pushing through skin cancer.

Now at the edge of 70 I'm full of life and bright and bouncy as can be, and when my broken ankle recovers fully, I will be started up a senior age dance class and posting on Utube.

Sure, a great many of us are active and competent in our seventies but back before I seriously hurt myself, life was a hard wake up early get home late monotonous trudge.

It should be legislated that Russian gulag music be piped throughout All parliamentary offices nationwide and play in every corridor of the house every day for a year in penance.
 
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Labor ...... has stuffed up this country bid time. They only do this because they get the taxes. So glad we never ever voted for them :/
LNP were the ones that increased the pension eligibility age. I am sure that this idea was embedded into their legislation. I’m glad we voted them out. Albo is in a position to knock this down. If he doesn’t, well, he may be just as bad.
 
Burn out and wear and tear is inevitable in some areas of work. As an aged care nurse it might have been possible to work longer but unfortunately with such staff shortages us nurses ( mainly enrolled) are having to work a lot of the shift on the floor. Hoisting, bending, lifting and dealing with aggressive abusive residents. I for one can not imagine going beyond 65, let alone 67!
 
Albo is much too busy jamming the Voice down our throats to bother about us seniors, they're just hoping by forcing us all to work longer hopefully we'll all fall off the perch sooner and stop being such a bloody problem
How about getting all these lazy ones on the dole off their backsides and into work. How did this country get to the state where the dole stopped being a safety net and became a lifestyle choice.
How about stopping the single mums pensions for the thousands of young girls who keep having kids willy nilly with every Tom, Dick and Harry, while living with these lazy no hopers, who are also collecting the dole, paying no maintenance for the children they produce, and this goes on from one generation to the next. Politicians living in their ivory towers then tell us this is only a very small percentage of the population. They need to get out into the real world and open their eyes. There are so many places where they can save money instead of picking on the pensioners all the time
I have step daughters, single mums, who actually get subsidised child care and they don't even work,.go figure.
As far as the Voice is concerned, the elders in remote communities didn't want the cashless debit card cancelled. Did the Labour Party listen to them NO, so much for their Voice.
All it will do will be to set up another load of bureaucracy at an astronomical cost to the taxpayer, such as ATSIC, bound for failure and being ripped off by the same people it is supposedly being set up to help .
God help us all
 
Sad really that this, like most issues affecting us oldies (😔), automatically generates collective blame on the government of the moment. We all need to wake up to the fact that, regardless of who is in power at any given time, ALL politicians need to be made aware of what the people want. Trying to lay blame on one particular party is counter productive. Make ALL politicians aware that we, the public of all ages, are fed up with excuses.
If they want our votes they have to start offering us the opportunity to engage in the decision making. Instead of a referendum on the Voice, perhaps a referendum on the retirement age. What about one on the perks they continually lavish on themselves. 😎
 
At the Seniors Discount Club, we consider managing finances and planning for retirement a key concern for our members. We know you have worked hard to contribute to this nation's prosperity.

Unfortunately, secure and comfortable retirement is becoming more challenging to attain with each passing year. We aim to keep you updated on issues concerning your future security and comfort, and that's just what this article is all about.



Recently, a photograph of a determined Aussie tradie asking a valid question about our nation's retirement age gained attention online—reigniting a long-debated discussion. The photo showcased the tradie's protest against a plan to raise the pension eligibility age, evoking a widespread response from thousands.

The sign reads, 'Only a bloke who's worked in an office his whole life would think you can work until you're 70.'


View attachment 23742
The spike in retirement age affects not only hard labour workers but also extends to other demographics. Credit: Shutterstock.



The debate gained momentum with the upcoming increase in Australia's pension age to 67 in July, with further speculation about the retirement age possibly rising to 70 by 2050. This spurred a wave of concern amongst the hardworking Aussies, many believing 70 is too long to maintain strenuous work routines.

'I've been a sign painter climbing ladders since I was 16. I'm 67 now and had a hip replacement three years ago due to wear and tear,' one worker shared.

'We need to elect a few tradies into parliament and start getting things back on track,' another expressed, supporting the unheard voices of physical labourers everywhere, suggesting that the retirement age should be even younger.

Their concerns were clear, 'wearing out' and burnout are real, and these aren't just limited to labourers but other professions demanding physical exertion like retail work.



Dr Lisa Denny, a workforce demographer and Adjunct Associate Professor with the Institute for Social Change at the University of Tasmania, shed light on this issue. She spoke about another demographic that needs to brace for an extended career—the young Australians just entering the workforce.

According to her, in the current economic climate, overwhelmed by high inflation, rising rent and interest rates, low wage growth, and cost of living pressure, the ability to contribute more to savings and superannuation is indeed 'severely curtailed'.

'With homeownership being harder these days, the likelihood that younger generations will have to work for longer is pretty high,' Dr Denny explained—a sobering outlook if there ever was one.



A team of academic experts, led by Professor Hanlin Shang from Macquarie University Business School, added to these concerns with the reveal of their report. It suggests three additional increases in the pension age over the next 27 years, aiming for a retirement age of 68 by 2030, 69 by 2036, and eventually 70 by 2050.

Their research highlighted the impacts of Australia's low birth rate on the future workforce.

They warn that fewer people in the working age group and more retirees will increase the old age dependency ratio (OADR), burdening the government pension system. With a higher OADR, fewer working people will support the elderly population.

These pressing issues aren't just confined to tradies or those doing hard physical labour. Now more than ever, it is essential for everyone to plan and prepare for retirement appropriately.

Early planning and saving for the future is essential, regardless of occupation.



For those with children or grandchildren, Dr Denny offered some advice. She urges them to understand what superannuation is for, contribute more, and not wait until they're in their 60s.

'If we don't want to work until we're 70, then we need to make sure we're planning appropriately for that,' she said.

Those approaching retirement today have the benefit of the favourable housing market. She pointed out that 'Homeownership has always been something to help shore up retirement,' and the current retirees might have done well in the housing market, setting themselves up for a more comfortable retirement.

Key Takeaways

  • The eligibility age for the Australian pension is set to increase to 67 from July 1st this year, with a suggestion that it may need to rise to 70 by 2050, prompting societal debate.
  • The spike in retirement age affects hard labour workers and extends to other demographics.
  • Academics led by Professor Hanlin Shang from Macquarie University Business School suggest three additional increases in the pension age over the next 27 years.
  • Workforce demographer Dr Lisa Denny argued that younger Australians might have to work for longer due to the difficulty of obtaining homeownership and other economic pressures.



Regarding retirement, it's important to remember that one size doesn't fit all. This complex matter involves several factors, including age, occupation, health, personal savings, and homeownership. It's crucial to be flexible and plan according to individual circumstances, regardless of profession.

In the end, one thing is clear: Australians of all ages need to start planning for their financial futures now more than ever. The trend of increasing retirement age is concerning, and it's time for us to assess our financial plans and adapt them to a potentially longer working life. By doing so, we can ensure a secure and enjoyable retirement!

We'd love to hear your thoughts on this article. Feel free to share them with us in the comments!
At the Seniors Discount Club, we consider managing finances and planning for retirement a key concern for our members. We know you have worked hard to contribute to this nation's prosperity.

Unfortunately, secure and comfortable retirement is becoming more challenging to attain with each passing year. We aim to keep you updated on issues concerning your future security and comfort, and that's just what this article is all about.



Recently, a photograph of a determined Aussie tradie asking a valid question about our nation's retirement age gained attention online—reigniting a long-debated discussion. The photo showcased the tradie's protest against a plan to raise the pension eligibility age, evoking a widespread response from thousands.

The sign reads, 'Only a bloke who's worked in an office his whole life would think you can work until you're 70.'


View attachment 23742
The spike in retirement age affects not only hard labour workers but also extends to other demographics. Credit: Shutterstock.



The debate gained momentum with the upcoming increase in Australia's pension age to 67 in July, with further speculation about the retirement age possibly rising to 70 by 2050. This spurred a wave of concern amongst the hardworking Aussies, many believing 70 is too long to maintain strenuous work routines.

'I've been a sign painter climbing ladders since I was 16. I'm 67 now and had a hip replacement three years ago due to wear and tear,' one worker shared.

'We need to elect a few tradies into parliament and start getting things back on track,' another expressed, supporting the unheard voices of physical labourers everywhere, suggesting that the retirement age should be even younger.

Their concerns were clear, 'wearing out' and burnout are real, and these aren't just limited to labourers but other professions demanding physical exertion like retail work.



Dr Lisa Denny, a workforce demographer and Adjunct Associate Professor with the Institute for Social Change at the University of Tasmania, shed light on this issue. She spoke about another demographic that needs to brace for an extended career—the young Australians just entering the workforce.

According to her, in the current economic climate, overwhelmed by high inflation, rising rent and interest rates, low wage growth, and cost of living pressure, the ability to contribute more to savings and superannuation is indeed 'severely curtailed'.

'With homeownership being harder these days, the likelihood that younger generations will have to work for longer is pretty high,' Dr Denny explained—a sobering outlook if there ever was one.



A team of academic experts, led by Professor Hanlin Shang from Macquarie University Business School, added to these concerns with the reveal of their report. It suggests three additional increases in the pension age over the next 27 years, aiming for a retirement age of 68 by 2030, 69 by 2036, and eventually 70 by 2050.

Their research highlighted the impacts of Australia's low birth rate on the future workforce.

They warn that fewer people in the working age group and more retirees will increase the old age dependency ratio (OADR), burdening the government pension system. With a higher OADR, fewer working people will support the elderly population.

These pressing issues aren't just confined to tradies or those doing hard physical labour. Now more than ever, it is essential for everyone to plan and prepare for retirement appropriately.

Early planning and saving for the future is essential, regardless of occupation.



For those with children or grandchildren, Dr Denny offered some advice. She urges them to understand what superannuation is for, contribute more, and not wait until they're in their 60s.

'If we don't want to work until we're 70, then we need to make sure we're planning appropriately for that,' she said.

Those approaching retirement today have the benefit of the favourable housing market. She pointed out that 'Homeownership has always been something to help shore up retirement,' and the current retirees might have done well in the housing market, setting themselves up for a more comfortable retirement.

Key Takeaways

  • The eligibility age for the Australian pension is set to increase to 67 from July 1st this year, with a suggestion that it may need to rise to 70 by 2050, prompting societal debate.
  • The spike in retirement age affects hard labour workers and extends to other demographics.
  • Academics led by Professor Hanlin Shang from Macquarie University Business School suggest three additional increases in the pension age over the next 27 years.
  • Workforce demographer Dr Lisa Denny argued that younger Australians might have to work for longer due to the difficulty of obtaining homeownership and other economic pressures.



Regarding retirement, it's important to remember that one size doesn't fit all. This complex matter involves several factors, including age, occupation, health, personal savings, and homeownership. It's crucial to be flexible and plan according to individual circumstances, regardless of profession.

In the end, one thing is clear: Australians of all ages need to start planning for their financial futures now more than ever. The trend of increasing retirement age is concerning, and it's time for us to assess our financial plans and adapt them to a potentially longer working life. By doing so, we can ensure a secure and enjoyable retirement!

We'd love to hear your thoughts on this article. Feel free to share them with us in the comments!
Wait until these 67 yr olds retire and they find out the pension they get for the first year or so is only about $250/week, not the $513 full pension. Earn over $5,000 the year before you retire, and your pension gets reduced by 50 cents in the dollar. Good work government!!
 
It's a disgrace, by the time you retire at 67 your lucky if you Have any life left in you to enjoy retirement. Take it back 60 and let people enjoy there retirement, there family's, there life most of all....
 
LNP were the ones that increased the pension eligibility age. I am sure that this idea was embedded into their legislation. I’m glad we voted them out. Albo is in a position to knock this down. If he doesn’t, well, he may be just as bad.
Er I might be wrong but I seem to recall that it was rudd that increased the aged pension age.
 
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I am 63 and have been working since I was 16 yrs old. I am not working until I'm 67, I will put myself on unemployment until the ridiculous retirement age of 67. Retirement age should never of been increased, it should be darn lowered back to 60 yrs of age!!
I totally agree. Maybe even pigeonhole hole workers. Those who work the hardest retire the earliest and those that sit on their butts (ie: POLITICIANS AND THE LIKE) work until they are eighty. Makes more sense!!
 
Sad really that this, like most issues affecting us oldies (😔), automatically generates collective blame on the government of the moment. We all need to wake up to the fact that, regardless of who is in power at any given time, ALL politicians need to be made aware of what the people want. Trying to lay blame on one particular party is counter productive. Make ALL politicians aware that we, the public of all ages, are fed up with excuses.
If they want our votes they have to start offering us the opportunity to engage in the decision making. Instead of a referendum on the Voice, perhaps a referendum on the retirement age. What about one on the perks they continually lavish on themselves. 😎
Or a referendum for taking away all politicians privileges and making it mandatory for them to be treated the same as us ‘mere’ mortals and pass the assets test before getting approved for the pension.
 
Labor ...... has stuffed up this country bid time. They only do this because they get the taxes. So glad we never ever voted for them :/
Well Petra, It was your Lovable Liberals who raised the Pension Age - GOTCH YA !!!! Still Love them as much ???
 
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