It seems our federal government wants to penalise those approaching the current pension age of 65 just because of past mismanagement of past governments . As you can see from this mornings newspaper article in Melbourne's Age, the Liberal government hope to extend the retirement/Pension eligibity age from 65 to 70. There goes 5 years of retirement and besides what about those who need to work because they don't qualify for the pension. Who will employ a 65 year old?
Join the club!
ReplyDeleteIn the UK the state retirement age is 66 for me (I'm nearly 58) and 67 for people not much younger than me. The intention is to incrementally raise it to 70! I wonder whether for my children (28 and 23) whether there will be one.
I'm fortunate to have a work pension which I can access from 55, but I feel for those that haven't and will have to work, sometimes at jobs they are no longer physically up to doing.
I also agree with your point and believe a new underclass of older, unemployed, former workers will develop with people using up savings to live that they'd saved for retirement.
You work hard, pay your taxes - but the politicians that make the rules live off their fat pensions - I'm disillusioned.
DeleteAt least, Australia is lucky to still have pensions. In the US, only 22 % (and falling) of full time private industry workers get a defined pension benefit compared to 42 % in the 90's. Of course, like for social security, the longer you wait, the more money you get. It has been advised to work till we are 70 years old to get the maximum.
ReplyDeleteCall it mismanagement or theft, funds are gone into someone's pocket or squandered and that is pretty sad in whatever country you are from.
I agree that we still live in the Lucky Country but I feel we just might be influenced more by the US. Our kids are starting to have American accents thru TV, etc....
DeleteWhat an utter disgrace. People work from c20 until they turn 65 and expect some sort of financial comfort while they are still fit and well.
ReplyDeleteMy parents are 90. Is that cretinous politician going to ring them and tell them they have to cut out one meal a day because the pension is being cut?
With you Hels.
ReplyDelete