Australians under 50 to wait until 70 for pension and super

Federal Member for Fairfax

Media release

Australians now under 50 will have to wait until they are 70 to get a pension or access their superannuation under recommendations from the Abbott government’s Commission of Audit, says Palmer United Party federal leader and Member for Fairfax Clive Palmer.

“The real reason Prime Minister Tony Abbott is looking to extend the pension age and the superannuation preservation age is to stop Australians accessing their superannuation when they can enjoy it,” he said.

“This plays into the hands of the Liberal Party masters in the superannuation industry in Australia.”

Mr Palmer said the government should also change the parliamentary superannuation scheme to bring it into line with what they are proposing for the rest of the nation.

“Tony Abbott and Joe Hockey need to change the parliamentary super scheme so they don’t access it until they are 70,” he said.

“But I don’t think they’ll do that.”

Mr Palmer said the only way to stop the government’s raid on pensions and superannuation is for Australians to vote for the Palmer United Party.

“Australians need to put this proposal in the rubbish bin where it deserves to be,” he said.

“People need to wake up and listen to what I’ve been saying for a long time about the major parties.”

Mr Palmer said the Palmer United Party supported allowing Australians to access their superannuation from the age of 55.

“Tony Abbott intends to bring in a system which ties people’s super funds up until they are 70,” he said.

“The government needs to move to allow people to access their super from the age of 55.”