Baby Boomers To Work Two More Years

Following the last post… some more from the Australian newspaper on the same story.

AUSTRALIA’S baby boomers will be asked to work two years longer before they can claim an aged pension with the eligibility test for payments to be lifted to 67 years of age by 2023.

Retirees will also be urged to keep working after they leave the full time workforce, with more generous work bonuses introduced to allow pensioners to keep more of their pension when they are also earning income from part-time work.

The decision to make older Australians wait until they are 67 to claim the aged pension reflects the findings of a major review of pensions and retirement incomes commissioned by the Rudd government that argues increased life expectancy should trigger a review of age eligibility test for the pension.

Are other countries doing the same thing? Please let me know and I’ll add it here…..