On 5 September 2018, the Government announced that it will no longer proceed with the proposal to increase the Age Pension age from 67 to 70.
This measure was originally announced in the 2014/15 Federal Budget. It was intended that the Age Pension age would increase gradually from 1 July 2025 every six months from 67 to 70 by 1 July 2035. It was never legislated.
The age pension age is currently 65.5 and will continue to increase to 67 as follows:
|Date||Impacts those born between dates (inclusive)||Age pension age (years)|
|1/7/2017||1/7/1952 to 31/12/1953||65.5|
|1/7/2019||1/1/1954 to 30/6/1955||66|
|1/7/2021||1/7/1955 to 31/12/1956||66.5|
|1/7/2023||On or after 1/1/1957||67|