Your Lifestyle

Retirement ages

In accordance with an objective of the Australian Government to encourage continued workforce participation among older people, there is no statutory retirement age in Australia. Currently, very few Australians over 50 wait until qualifying for the Age Pension before retiring. A recent Australian Bureau of Statistics (ABS) survey found that around 76% of men had retired before 63 and 76% of women had retired before the age of 60.

The notion of formal retirement will have a decreasing relevance for Australians over 50 as many people move from full time to part time and casual work, and others face redundancy and an increasing difficulty to gain access to the labour market.