As an Australian senior, I wish to offer an apology to the Government for reaching pension age, having only given them 65 years notice (by registering my birth) to prepare.
Also for working for 50 years and paying a range of taxes to fund all manner of Government expenditure and, hopefully, my pension.
It seems that someone forgot to make provision for pensions and so the Government intends to cut back on future pension increases and to raise the pension age to 70.
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READ NOWBy far the best approach would be to cut the retirement age back to 55 or 60 and free jobs for younger people.
After all, paying an age pension would be better economics than paying Newstart to young ones who, not having gainful employment, will spend their time breeding even more welfare recipients.