Wednesday, July 29th30.5°C
26925
25998

Australia's plan to raise pension age to 70 criticized as unfair for workers in tough jobs

CANBERRA, Australia - The Australian government's plan to eventually raise the state pension age to 70 has been criticized as unfair for those in physically demanding jobs, the poor and indigenous people.

Raising the pension eligibility age to 70 by 2035 was one of the measures contained in a budget announced on Tuesday to help Australia cope with the costs of an aging population.

The opposition Labor Party has vowed to oppose the change in Parliament. The current pension age is 65.

Opposition treasury spokesman Chris Bowen said on Wednesday the measure fails the "sensible test."

Bowen says no other wealthy country has suggested making its citizens work until they turn 70 before they become eligible for a pension.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14301.80+224.44
S&P CDNX584.76-2.20
DJIA17751.39+121.12
Nasdaq5111.73+22.53
S&P 5002108.57+15.32
CDN Dollar0.7723+0.0001
Gold1096.90+0.60
Oil49.31+0.15
Lumber253.00+1.40
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.18+0.01
Knighthawk0.010.00
QHR Technologies Inc1.40+0.03
Cantex0.05+0.00
Anavex Life Sciences0.7865+0.0065
Metalex Ventures0.05-0.01
Russel Metals19.21+0.86
Copper Mountain Mining0.85+0.03
Colorado Resources0.06+0.00
ReliaBrand Inc0.0045-0.0022
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.14-0.01
Decisive Dividend Corp2.50-0.08

 





FEATURED Property
1785208151 - 1288 Water Street, Kelowna, BC
1 bedrooms 1 baths
$349,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_





26509


Member of BC Press Council


24697