A record 760,000 Australians aged over 65 are now in the workforce—the highest number since records began in 1995 and up nearly 20% since 2022. This marks a major shift in older‑age labour participation.
The Coalition claims that cost‑of‑living pressures are forcing people to retire later, but economists and ageing advocates say the picture is more complex. They cite factors, including:
- The increase in the pension age from 65 to 67 in 2023.
- More people are working in jobs that are less physically demanding, making later retirement feasible.
- Longer life expectancy means people are healthier and more capable of working into their late 60s and beyond.
