Proposed Delay on the Age of Access to Super after 60 years old

 

Age of Access for Super

Proposed Delay on the Age of Access to Super after 60

Calls have been made to Delay the Age of Access to Super until at least 2 years after 60 years old (the current age access allowed), from the Financial Services Council.

Gareth Hutchens, reporting in the Canberra Times,  page 11, says – Australia’s superannuation industry has declared that workers should have to wait a further two years to access their super, believing it is bad policy to allow people to draw on their savings from 60 years of age. The Chief Executive of the Financial Services Council, John Brogden, says the age at which people can begin drawing on their super – the ”super preservation age” – should be moved much closer towards the pension eligibility age. The pension eligibility age is 65 at present but will be progressively lifted to 67 over the next decade.
And in the Sydney Morning Herald he wrote – The superannuation industry has declared that workers should have to wait a further two years to access their super, believing it is bad policy to allow people to draw on their savings from age 60. John Brogden, the Chief Executive of the Financial Services Council, says the age at which people can begin drawing on their super – the super preservation age – should be moved much closer towards the pension eligibility age. The pension eligibility age is 65 but will be progressively lifted to 67 over the next decade. READ MORE

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