Are you prepared to work until you are 70?

[i-need-a-martini]

There is no way I will be. I am not planning to work beyond 55!

But it won't affect people like me will it? I have my own plans and they will be self funded.

So once again, it will be those less fortunate and less able to take care of themselves who will suffer.

[donnashuggy]

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@spotweldersfriend wrote:
Here is the current system brought in by the Labor government,which for the record I disapprove.
If you were born prior to July 1 1952, the retirement age is 65.
July 1 '52-Dec 31 '53---65 and 6 months
Jan 1 '54-June 30 '55---66
July 1 '55-Dec 31 '56----66 and 6 months
From Jan 1 '57-----67.

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What about workers compensation? I don't think it covers you over 65 as it is? If this changes will everyone over 65 be falling over accidentally at work? 

[spotweldersfriend]

I'm not sure about compo.I've never claimed compo in my life,even after losing both arms and legs working on various Grollo projects.Fortunately,I can type with my nose.

[donnashuggy]

You can't really fall over then spot! I'm pretty sure you aren't covered over 65.....when does degenerative disease set in?

I think Karen mentioned earlier that indigenous life expectancy is 69

[spotweldersfriend]

With me,it was sometime in the mid-70's 🙂

[lyndal1838]

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@donnashuggy wrote:

You can't really fall over then spot! I'm pretty sure you aren't covered over 65.....when does degenerative disease set in?

I think Karen mentioned earlier that indigenous life expectancy is 69

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Donna, Workers Compensation has to be paid in full for all workers regardless of age but after age 65 they will only pay medical expenses and for a very limited time.  There is no coverage for wages as younger workers get.  The employer also has to pay for coverage of superannuation but that is never paid for any workers.  As superannuation is going up each year it is a significant amount of money that the employer has to pay out.

[donnashuggy]

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@lyndal1838 wrote:

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@donnashuggy wrote:

You can't really fall over then spot! I'm pretty sure you aren't covered over 65.....when does degenerative disease set in?

I think Karen mentioned earlier that indigenous life expectancy is 69

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Donna, Workers Compensation has to be paid in full for all workers regardless of age but after age 65 they will only pay medical expenses and for a very limited time.  There is no coverage for wages as younger workers get.  The employer also has to pay for coverage of superannuation but that is never paid for any workers.  As superannuation is going up each year it is a significant amount of money that the employer has to pay out.

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Thanks for that Lyndal, bit of a worry for those getting injured at work over 65.

[lurker17260]

I haven't read the whole thread yet, I'm only on pg 4 but I can't help thinking about my good mate who I visited yesterday.
He worked until about 65, had a good few years then, the week after his 70th birthday he got a serious cancer diagnosis. That's 2 years ago almost to the day, and we don't expect him to around for much longer.
Wouldn't have been much of a retirement if he'd have had to work until 70.

[ufo_investigations]

The people in government don't give a rats about us! The politicians are only there for their own self interests, nice cushy pension after so many years service and whilst in power they can 'approve' contracts for their mates etc and guaranteed lifetime benefits. ie; air travel, public transport etc.

Do you guys really think politicians are looking after you?

Think again.

[carls*world]

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@diamond-halo wrote:

Judges already have a retirement age of 70.

If we are going to get a retirement age of 70, I'm glad that a lot of the manufacturing jobs etc are being phased out. Working those kinds of jobs for that many years is just too much.

and the "less fortunate" (Martinis words) will now be allowed to work longer at a higher wage than the pension would earn them.

There is good in the proposal as well as negatives. Not time for chicken little to dance just yet

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Anyone, including labourers are already "allowed" and even encouraged to work to 70 if they choose. The problem is those physically unable, being forced to slave on for another 5 years, even when their bodies were ready to give in by 60. We had a driver recently retire 'again' after taking up an initiative to work longer. Intended to retire at 65, some scheme was introduced to pay him a bonus to do another 5 years, but in effect, we basically carried him for the last 18 months to see his time out. Arthritic wreck by the time we farewelled him.

[just_me_karen]

and then when these manual labourers do retire at 70 they've lost their health and quality of life....due to work. What kind of reward for their contribution to Australia is that?

DH, as for phasing out manufacturing job "etc" that's just ludicrous...we need workers in all types of jobs otherwise we have to do those things ourself... which means the whole country de-skills because unproductive time is spent on doing a plethora of things poorly.

Low productivity, loss of skills, economic bust.