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Greens plan to return retirement age to 65

Retirement could come sooner for more than half a million Australians under a new Greens proposal.

The plan involves returning the retirement age to 65 from 67 years by 2026 and granting everyone earlier access to the age pension.

That means expanding access to the pension to hundreds of thousands of older Australians currently living in poverty, the party says, and provide an earlier retirement with guaranteed income support.

The announcement comes in addition to the Greens promising to raise the pension rate to $88 a day.

Both major parties have failed low-income older Australians since the Labor government increased the pension age by two years in 2009, the Greens say.

Leader Adam Bandt says if the Greens are successful at the May election they will use their leverage to advocate for older voters and the working class.

“In balance of power, the Greens will fight to restore respect and dignity in ageing and ensure that it’s rest and revitalisation, not poverty, awaiting people at the end of their working years,” he said.

“By making billionaires pay their fair share of tax, older Australians can retire earlier with dignity.”

The plan is expected to cost nearly $5.6 billion over the forward estimates period.

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