70 is not a lucky number!

By Ian Henschke, Chief Advocate of National

Seniors Australia FOR decades, men could look forward to retiring at 65 and getting the pension. For women, it was 60. Their eligibility was increased over ten years between 1995 and 2004 until they too reached the same qualifying age.

In 2009 the Rudd government lifted it to 67 for men and women but it was to be phased in from 2015, with six month increases every two years, starting from July 1, 2017. Now we’ve arrived, after almost thirty years, at a pension age of 67! But it could have been worse.

Almost ten years ago Treasurer, Joe Hockey, announced it would go to 70 by 2035. He asserted it was “highly probable a child born today would live to 150.” Really?

His move followed on from a report from the Commission of Audit, which recommended the qualifying age be linked to life expectancy. The thinking was because we are living longer than our parents and grandparents, we should remain in the workforce longer.

There was a huge backlash including a campaign led by National Seniors. A popular slogan at the time was: “Only someone who’s worked in an office their whole life would think you can work until you’re 70!”

In the run up to the 2019 election Scott Morrison dropped the age-70 target as Liberal policy. His deputy, Michael McCormack said it was “probably a step too far” adding “I think if you’re 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,” he said.

At National Seniors, we were pleased