The government wants Australians to keep working until they are 70, to reduce pressure on the aged pension, but new research shows that nearly a quarter of people now in their 40s will be too sick to stay in the workforce.
Treasurer Joe Hockey last year proposed lifting the age at which people are entitled to full access to their superannuation, known as the preservation age, from 65 to 70 for anyone born after January 1966.
In 2035, when the change would take effect, the majority of retired or unemployed Australians in their sixties will not have enough superannuation to fund their retirement.
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Source Credits: Sally Rose in The Sydney Morning Herald