Welfare groups are welcoming Prime Minister Scott Morrison's decision to drop a plan to raise the retirement age to 70. Αnd his Liberal Party colleagues are describing the move as "sensible" and "pragmatic." But some economists are warning tough decisions have to be made to cope with an ageing population.
While mingling with young Australians this week, Prime Minister Scott Morrison also had a welcome message for those approaching retirement age.
In 2014, then-Treasurer Joe Hockey had announced the Abbott-era plan to move towards a retirement age of 70, but it was never legislated.
The proposal was to start lifting the pension age in 2025, raise it by six months every two years and eventually reach 70 in 2035.
Now the Government has dropped the plan, Opposition Leader Bill Shorten is accusing the new Prime Minister of being untrustworthy.
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