Pension Age to Remain at 67
Today the Morrison Government has announced that the Pension Age will remain at 67 and will not be raised to 70.
The increase to age 67 was legislated by the previous Labor Government.
This decision builds on recent Government measures to support older Australians including our decision to retain the energy supplement.
We are doing the right thing by senior Australians. The Morrison Government believes in a fair go for those that have a go, and senior Australians have been having a go all their lives.
Since the Coalition was elected, pensions have increased by $99.20 per fortnight for singles and by $149.40 per fortnight for couples combined.
In this year’s budget, the Government announced a package of measures to help Australians to live a longer, healthy and more active life including the Pension Work Bonus and supporting older Australians to get access to the pension when they are running a business.
Other measures include the Pension Loans Scheme, opened to all older Australians, including full rate pensioners and self-funded retirees, so they can boost their retirement income by up to $17,800 for a couple, without impacting on their eligibility for the pension or other benefits.
We’re also supporting older Australians to stay in the workforce by providing wage subsidies of up to $10,000 for employers who employ older Australians.
For those that don’t want to work beyond 67, the pension is there for you.