Lift preservation age to 65, save $7bn annuallyBY ALEX DUNNIN | TUESDAY, 7 JUL 2015 10:00AMFollowing successive government plans to lift the age at which retirees can access their age pension, policymakers are pushing ahead with proposals to lift the Preservation Age. Related News |
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David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
Preservation age of 60 needs to be retained. Individuals need to have options of transitioning into a semi-retirement lifestyle by partial access to their superannuation after this age.
Additionally consideration needs to be given to natural deterioration in health or a sudden change in employment status. A transitional retirement arrangement could keep an individual in the work-force for longer.