(SMH) In Australia, the Case to raise the pension age to 70: report

The pension age could be pushed back to 70, and older Australians forced to use growing equity in their homes to help pay for government services under proposals designed to help Australia cope with an ageing population.

In a paper titled ”An Ageing Australia: Preparing for the Future”, the Productivity Commission projects Australia’s population will grow from about 23 million in 2012 to about 38 million by 2060, with a substantial increase in the number of retirees as people live longer.

That will mean lower overall participation in the workforce, and more pressures on governments to pay for higher health, aged care and pension costs.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Aging / the Elderly, Australia / NZ, Economy, Ethics / Moral Theology, Law & Legal Issues, Pensions, Personal Finance, Politics in General, Theology