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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Blake Briggs
CHIEF EXECUTIVE OFFICER
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FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara 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.