Retirement Age In Australia Essay

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Retirement age in Australia
In Australia, the retirement age is gradually changing. Workers born from 1st July 1952 to 31st December 1953 have retirement age of 65.5; workers born from 1st January 1954 to 30th June 1955 may retired at 66; workers born from 1st July 1955 to 31st December 1956 is 66.5; workers born from 1st July 1955 to 31st December 1956 can retired when 66.5; workers born from 1st January 1957 will retired at 67. Now, as reported by the government, Australia’s retirement age will rise to be the world’s highest with workers expected to retired at age 70 by 2035.

The pressure that the ageing population is putting on Australia
The ageing population in Australia has created lots of social pressure. As workers have become older, many of them have begun to retire. As a result, there is a newfound lack f workers in the Australian workforce. Therefore, companies may have to increase wages to encourage more people to …show more content…

Making the change to retirement age without also changing the policies on social security for retired people is reckless and unfair to all workers in the social. It also causes unnecessary anxiety for some women who do not draw a super in their lives. Also, many elderly women have limited work experience and do not have an income due to raising their families.
Some old workers are too hard to employ because of discrimination in the workforce. Sometimes employers do not even give them a chance to show their qualifications because they are too old and need employers to pay them more wages than younger people. Research shows that being forced out of the workforce and into retirement via redundancy is more of a concern than a higher pension age, which is shown to have no adverse impact on population

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