Framework for working until 70

Treasurer Scott Morrison made it abundantly clear during his Federal Budget press conference that it is still a policy priority for the Turnbull Government to push the Age Pension eligibility age out to 70.

The measure, which was first introduced in the 2014-15 Budget, has failed to gain support through the Senate, as it is considered grossly unpopular, unfair and unrealistic.

Rather than abandoning the measure, the Government has used this year’s Budget to try to make the goal more realistic by addressing some of the impediments of working until 70, chief among them age discrimination in the workforce.

Treasurer Morrison announced funding to provide a $10,000 wage subsidy for employers employing Australians aged 50 and over.

A new Skills Checkpoint will provide advice on relevant skills and training to help workers build their careers or transition to jobs in new industries.

The Government will also provide up to $2000 to fund upskilling opportunities for mature-aged workers as part of a new skills and training incentive scheme, while also expanding the Entrepreneurship Facilitators program to help those interested in starting their own business.

“This means older Australians will have more money in their pockets and our businesses will benefit from the knowledge and experience they bring to an organisation,” Mr Morrison said.

Will the new measures entice you to employ older Australians? Or get back into the workforce?

Written by Ben


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