From the SMH blog:
The federal budget will lift the retirement age to 70 by 2035, Treasurer Joe Hockey will announce today.
This date is almost 20 years earlier than the year 2053 as recommended by the government’s commission of audit released on Thursday. It will affect everyone born in 1965 and onwards.
Presently, the retirement age is set to rise from 65 to 67 by 2023.
Bringing forward the date as recommended by the audit commission further suggests the government will not implement some of the other harsher recommendations of the audit commission, such as bringing the family home in to the income assets test in 2027-28.
Mr Hockey will make the announcement at a speech in Sydney at lunch time. It comes amid a storm of protest from welfare and disability groups, doctors, unions and the education sector following the draconian measures recommended by the audit commission.
