Little support for age pension hike
A poll on the federal government’s plan to hike the age pension age to 70 suggests it has little support.
The federal government appears to have little public support for its plans to hike the age pension access age to 70.
Most people believe they will retire at age 65 and are opposed to a budget measure that hikes the pension access age to 70 by 2035.
Most opposition comes from those who stand to be affected, people aged between 18 and 54.
Almost 40% expect superannuation to be their main source of income after retirement, while one quarter believe they will rely on the age pension.
The Essential Poll figures come as the government continues its campaign to convince seniors to remain in the workforce for longer.
It argues the measure is 'good for the nation' because it will improve quality of life and the economy.
Treasurer Joe Hockey says the plan to hike the pension access age was about giving consistency, stability and predictability to the retirement income system.
But he sees merit in linking eligibility to life expectancy rather than having a fixed retirement date.
The fundamental question was whether that could be done step-by-step or through a more 'holistic approach', the treasurer told a recent ageing research conference in Canberra.
Meanwhile, the government is preparing to shift on plans to link the pension to inflation rather than increases in average male earnings.
Social Services Minister Scott Morrison is in talks with crossbench senators on a compromise to hike the pension taper rate, which would cut $3 a fortnight from the payment for every $1000 of assets held over the threshold.
Prime Minister Tony Abbott says negotiations are under way with 'responsible' parliamentarians.
“We do have to ensure that the pension is sustainable for the long term and that's what we're talking to the crossbenchers about,” he says.
