Thread: Pension Age may move to 70

There is a difference between retirement age and pension age.
They are not the same thing as some here realise, and some don't.

Me, I'm semiretired now, will fully retire in 4 years or so at 60, will self fund retirement until 83 when we calculate the money runs out, then will have slowed down enough to survive on the meagre pension offered by the govt. of the day.
Unless I kark early..... Lucky kids.

I doubt they'll ever fully remove the old age pension, they'll always have a safety net of sorts, but it will be meagre.

Originally Posted by rovercare

Old croation bloke up the road from me still working his farm with his son, 86 years young, tells me he'd be dead if he stopped.

That is so sad - there is more to life than working all of it.

I think the salient point is it's HIS farm, pride, joy, hobby.

You don't see Murdoch shuffling around the house in slippers.

Originally Posted by Chucaro

Spot on Bob, some governments are using the day of a sport grand final to vote bad legislation or pay rise for them.
With the football world cup in a few weeks I can see that something unpopular will be introduced in few countries
I think that grand part of the blame is in the naivety or ignorance of the electorates

spot on

Originally Posted by RHS58

There is a difference between retirement age and pension age.
They are not the same thing as some here realise, and some don't.

Me, I'm semiretired now, will fully retire in 4 years or so at 60, will self fund retirement until 83 when we calculate the money runs out, then will have slowed down enough to survive on the meagre pension offered by the govt. of the day.
Unless I kark early..... Lucky kids.

I doubt they'll ever fully remove the old age pension, they'll always have a safety net of sorts, but it will be meagre.

Well done, every one needs a plan. Those who finish work without one, are more likely to fall into depression, or worse. The problem is, I think, a large proportion of our present aged population worked in a time when super was not given the attention it deserved. Not their fault, really. These people rely on the aged pension. Those just behind them have accumulated super, but in most cases not enough to be independent , they look to a part pension to top up . Later generations have been given a big heads up on what is required for a reasonable retirement. I'm talking about the average worker, not those in upper pay brackets.


I believe in the future, government will place those workers deemed too old to continue working 'till 70 on the newstart allowance, & in some cases on disability pensions. Correct me if I'm wrong, but I believe both these systems will cost less than the aged pension, & the benefits that go with it. It's all speculation, until after the budget. Bob

They are already placing people unable to work on the Newstart or disability pensions, that's why there has been such a big rise in the numbers on them in recent years. The reality is many people will NEVER be able to work till 70 for perfectly valid reasons.

Originally Posted by DiscoMick

They are already placing people unable to work on the Newstart or disability pensions, that's why there has been such a big rise in the numbers on them in recent years. The reality is many people will NEVER be able to work till 70 for perfectly valid reasons.

The Disability Reform Package of the early 1990's made changes to Sickness Allowance. SA was paid for a temporary & total disability and the then Invalid Pension for permanent disability exceeding xx % as medically assessed. Sickness Allowance was being paid for ever and ever, years and years, which is definitely not temporary disability. One of the ideas of the Reform Package was to assess long term Sickness Allowees and get them onto a more suitable allowance, hopefully Newstart, and look for work. Not terribly successful as allowees kept producing medical certificates saying they were totally unfit for work. As no-one is now supposed to receive Sickness Allowance for more than two years, this meant the ones over two years and still unfit for work had to go to Disability Support Pension. Sickness Allowance is now paid only to people who have a job to return to once well. Unemployed and unfit for work are on Newstart with a medical certificate. The qualifications for Disability Pension have been changed from the former percentage based system to one giving points on various scales of disabilities. You need to get 20 points on one scale to qualify. Less than 20 points on other scales do not count. They are not added in. The DSP is now much harder to get. Only about 40% of claimants are currently being granted.

Originally Posted by garrycol

That is so sad - there is more to life than working all of it.

Not really, plenty of old farmers out this way happy as. I see lots retire, get fat old and die in their 60's. Old farmers keep on chugging enjoying every day.