Fed: Vanstone denies govt planning to raise pension age to 70

00-00-0000
Fed: Vanstone denies govt planning to raise pension age to 70

Family and Community Services Minister AMANDA VANSTONE has denied the government intendedto raise the qualifying age for the aged pension from 65 to 70 years.

But the opposition says the government still plans to keep people working longer byraising the age at which they can access their superannuation benefits -- known as thepreservation age.

A Department of Finance and Administration submission recommends the government liftthe aged pension qualifying age to 70 by 2014 to keep people in the workforce longer andsave on health and welfare spending.

The DOFA submission also recommends aligning the preservation age -- being increasedgradually from 55 to 60 years -- with the pension age, which is currently higher.

But Senator VANSTONE says the DOFA recommendation's not one sought by the government.

She says no proposal to raise the pension qualification age is being considered bythe Minister for Finance or the government.

AAP RTV jph/smb

KEYWORD: PENSION (CANBERRA)