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.

[lakeland27]

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@diamond-halo wrote:

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@lakeland27 wrote:

i don't think Abbotts PPL scheme will get up. many in his own ranks dont want it , let alone the IPA and the electorate.

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It would take a lot of balls to introduce this, eh?

It would be career suicide for whoever does.

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hopefully .

[lakeland27]

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@nero_wulf wrote:

Labor supporters have very short memories

The decision to increase the pension age was taken in 2009 under Labor  to 67

Labor introduced changes in 2009 that will see the pension age rise from 65 to 67 between 2017 and 2023.

The official retirement age will rise from 65 years to 67. No-one in Australia will be able to access the age pension until they have celebrated their 67th birthday.

The age of 67 is hardly a milestone these days. When the age pension was introduced in the first decade of the 20th century, for many people their 65th year coincided with the unhappy event of their death. Plenty had already dropped off the perch before then.

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not really. nobody liked the idea then either. Hockey making it even worse is typical .. get a lousy idea and expand on it.

[debra9275]

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@diamond-halo wrote:

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@debra9275 wrote:

Yeah, I get that scenario. My OH is basically a waiter, so whilst rough work, not in the same league as a labourer, but he's pretty much done now at 52. He's a fit boy, but his body is wearing out.

well imagine if he HAD to work till seventy

people get tired you know

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Yeah, as I said there are exceptions, there will always be exceptions.

He's semi retired now, and looking to use the skills he has in a different manner.

No different to what I'm doing really, originally a chef, no way I could go back to that now or do it until I was 60. so change tack is in order.

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there would have to be MANY exceptions. Seniors tend to get more health problems, and seriously I don't think too many in the 60-70 year old age bracket would even consider starting up new business ventures, that's just plain unrealistic

[nero_bolt]

Here is the problem: and its worth for the labor supporters to click on the links to the treasury reports in this post..... 

Mind you Labor if they ever get back into power will have to address this as well and they admitted that we have a problem back in 2009 that the selective memories of some on here have forgotten

The Australian population is ageing and living much longer. The average taxpayer in 2050 will have to support nearly twice as many people over 65 as we do toda... As Treasury secretary Martin Parkinson explained:

… by 2050, there will be only 2.7 people of working age to support each Australian aged 65 years or over, compared with 5 working age people per aged person in 2010, and 7.5 in 1970.

About 80 per cent of Australians aged over 65 are on the full or part age pension. And they claim it for much longer:

When the Australian Government introduced the Age Pension in 1909, a man aged 65 years could expect to live around 14 years more, whereas a man born 100 years later could expect to live around 29 years after age 65 years.

The single pension is now $842.80 a fortnight. A pensioner living to age 85 will claim $400,000 in pension payments, not including payments for the seniors health card, hospital treatment, aged care or any other government support. Very few would have contributed so much in taxes, which are also meant to pay for schools, roads, defences forces, public transport, the dole.....

Welfare and health costs are exploding, warns Treasury, just as national growth is slowing:

… total Commonwealth expenditure on health is anticipated to rise from $64.7 billion in nominal terms in 2013-14 to ... $116 billion in 2023-24.

Similarly, our three main pension payments – the aged pension, disability support pension and carers’ payment – grow at an annual rate of 6 per cent per annum in nominal terms over the forward estimates, adding ... another $39 billion to annual payments by 2023-24. 

So a question, how will all this be paid for? 

[debra9275]

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@diamond-halo wrote:

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@i-need-a-martini wrote:

Or they could increase the tax threashold for those earning above $180,000 pa.

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NMot meaning to be argumaentative here, but this is something I have never understood.

Why, should someone who has managed to get themselves into a position to earn more be punished for that?

I think everyone should be taxed equally.

It's sort of like the welfare mantra you hear "it's not wiorth me working right now, cos i get more money to stay home", "if I go and work part time, they take money off my payments, so what's the point?"

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what do you suggest?? Austtralians only do the good 'well paid" high position jobs and 457 visas do the dirty work??

quite often "managing to get yourself into a position to eanr more" is just plain old good luck,

in real life... stuff happens.. not everything always goes as a person has planned

[debra9275]

and despite that, the older generation have paid taxes ALL THEIR LIVES to support our country and it's people. How long do they have to do that for??

[donnashuggy]

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@nero_wulf wrote:

Labor supporters have very short memories

The decision to increase the pension age was taken in 2009 under Labor  to 67

Labor introduced changes in 2009 that will see the pension age rise from 65 to 67 between 2017 and 2023.

The official retirement age will rise from 65 years to 67. No-one in Australia will be able to access the age pension until they have celebrated their 67th birthday.

The age of 67 is hardly a milestone these days. When the age pension was introduced in the first decade of the 20th century, for many people their 65th year coincided with the unhappy event of their death. Plenty had already dropped off the perch before then.

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You would agree with anything this government does

[the_great_she_elephant]

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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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Do you mean they are obliged to work until they are 70, or they are allowed to work until they are 70 - there is a big difference?

[debra9275]

I think it's most likely choice She-ele. I doubt that they are 'forced' to work until 70

[nero_bolt]

I am not sure why you are all worried as this isnt going to happen over night and by the time it does most on here will be long gone

Labor introduced changes in 2009 that will see the pension age rise from 65 to 67 between 2017 and 2023.

So where were you all the good labor socialist supporters yelling in protest when this happened?

?