News that the government has abandoned plans to increase the pension age to 70 has been welcomed by Industry Super Australia.
The increase, scheduled for 2035, was announced in the 2014-15 federal budget by then Treasurer Joe Hockey. It was opposed in the Senate and failed to be legislated.
Industry Super deputy chief executive Matt Linden said: “We are pleased that the Morrison government has abandoned Coalition plans to increase the pension age.”
“Forcing manual workers, in particular, to stay at it until 70 would have been unreasonable”.
“Australians do not want to work until they drop."
“We hope today’s announcement may signal a willingness within government to also reconsider the extent of the 2017 pension asset test changes."
Media contact: Phil Davey 0414 867 188
Industry Super Australia provides policy, research and advocacy on behalf of 16 not-for-profit Industry SuperFunds who are the custodians of the retirement savings of six million Australians