Perhaps the most unpopular policy decision in Budget ’09 was the Government’s announcement that it will raise the aged pension eligibility age — by 2023, it will only be available to those over 67. Pollsters even suggest it’s what led to a sharp drop in Kevin Rudd’s popularity.
The new policy would suggest that in 2023, 65 and 66 year-olds will either have to keep working, or take the dole as they wait for the pension. But what does that actually mean? Are people right to be peeved on behalf of their future selves?
Admittedly, by 2023, the whole public welfare system could have changed, but we thought we’d crunch some numbers anyway to look at the dollar difference between the current pension and the dole.
Not including extras, the difference between dole and pension is at least $66 a fortnight. Here’s what that looks like in Graph Form: