Hockey raises aged pay bar

Lifting the age at which retirees can get their superannuation seems inevitable.

Treasurer Joe Hockey.

Treasurer Joe Hockey.

The Abbott government is under siege from Labor, the Australian Greens and welfare groups over its budget decision to lift the pension age to 70 in 2035 and change pension indexation.

Superannuation is also in the spotlight after Treasurer Joe Hockey raised the prospect of a rise in the age at which super can be accessed, known as the preservation age.

Treasury boss Martin Parkinson added fuel to that fire on Tuesday when he told a business lunch in Sydney that change to the preservation age - which for those born after June 30, 1964 is 60 - was inevitable.

"We have to get a bit more sensible about the way we talk about and think about retirement incomes," Dr Parkinson said.

The overall issue of retirement and the ability of people to work until they are 70 needed to be broadly discussed.

"[We] need to start to think more seriously about how people manage different careers throughout their life and how we manage the transition - we can't realistically expect a bricklayer to become a brain surgeon."

Mr Hockey indicated on a television program on Monday the government could change the age at which people can access their retirement savings. AAP


Discuss "Hockey raises aged pay bar"

Please note: All comments made or shown here are bound by the Online Discussion Terms & Conditions.