Our retirement age just went up — so why aren't we as angry as the French?
Our retirement age just went up — so why aren't we as angry as the French?
Since Saturday, Australians have been required to wait until the age of 67 until they can get the age pension. It has happened with little protest — a stark contrast to the demonstrations and riots that have rocked France, writes Peter Whiteford.
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France's pension pays more than the minimum wage. Here the aged pension is almost half of minimum wage. A lot of people there have planned their retirement assuming that they'll get that nice pension.
In the future, most people here will be living off their super. Aged pension will be for people who haven't worked much and the self employed because they don't have compulsory super. The aged pension won't affect too many people in the future.