This week, the Coalition government back-flipped on the ‘zombie’ policy to raise eligibility for the Age Pension to 70 years.
Originally proposed in the 2014 Budget as a means to save $3.6 billion over four years, the measure had lain dormant since.
But finally realising how unpopular the policy was, new Prime Minister Scott Morrison dropped it to align his government with the Labor Party’s own position on the retirement age.
While this week’s announcement was applauded by many organisations, there are others who believe that working until 70 years of age is appropriate for some individuals.
In fact, many Australians are still in the workforce at that age. Not everyone wants to retire in their 60s and some seniors may even be persuaded to stay working until their 70th birthday if they were offered incentives.