The 2014 Federal Budget included many new initiatives that will affect mature age workers and Seniors. Some have been received well others, others not so well like the proposed increase in the pension age to 70.
While we can sit around and debate the merit of these programs, what we can be certain of is that something does need to be done to increase the workforce participation rate of mature age workers.
Broadly speaking, the last 30 years have seen an increase in participation among Australians in their 50s and 60s. However, in more recent times, this growth has plateaued. So what does this tell us? Well, a couple of things.