Archive for September, 2009

At Sixes and Sevens over New Retirement Policy

Wednesday, September 16th, 2009

by Tim Robinson

In its May budget Australia’s Rudd government announced that by 2023 a new retirement age will have been phased in. The new retirement age will increase from the current 65 years to 67 years. When the new policy is in place a raft of existing arrangements and mind-sets will change. Whether it be eligibility for the age pension, policies regarding self-funded retirees’ access to their superannuation balances, eligibility for seniors’ cards, or simply acceptance of a new bench-mark for what constitutes being over the hill, the new retirement age will usher in its own economic and social consequences.  

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