{"id":31906,"date":"2015-07-07T00:00:00","date_gmt":"2015-07-07T00:00:00","guid":{"rendered":"https:\/\/cms.fiveaa.com.au\/uncategorized\/super-change-would-save-7-billion\/"},"modified":"2015-07-07T00:00:00","modified_gmt":"2015-07-07T00:00:00","slug":"super-change-would-save-7-billion","status":"publish","type":"post","link":"https:\/\/cms.fiveaa.com.au\/show\/will-goodings\/super-change-would-save-7-billion\/","title":{"rendered":"Super change would save $7b"},"content":{"rendered":"

The Commonwealth budget would save $7 billion a year if workers were prevented from accessing their super before they turned 65.<\/h3>\n

Reporting for The Age<\/a>, Gareth Hutchens explains:<\/p>\n

\u201cThe commission has found that if the age at which people can access their super was raised from 55 to 65, older Australians would be encouraged to work for two more years on average, reducing pressure on the aged pension and federal budget.<\/p>\n

\u201cThe budget would save $7 billion a year from 2055 \u2013 a combination of the age pension system saving $3 billion a year and income tax receipts rising by $5 billion, but welfare payments increasing by nearly $1 billion to account for workers who retire involuntarily but are forced to wait longer to access their super.<\/p>\n

\u201cA new report from the commission, Superannuation Policy for Post-Retirement, released on Tuesday, shows most of those budget savings would come from wealthier workers because they would be the ones most likely to be able to afford to work for longer,\u201d according to Hutchens.<\/p>","protected":false},"excerpt":{"rendered":"

The Commonwealth budget would save $7 billion a year if workers were prevented from accessing their super before they turned 65. Reporting for The Age, Gareth Hutchens explains: \u201cThe commission has found that if the age at which people can access their super was raised from 55 to 65, older Australians would be encouraged to work […]<\/p>\n","protected":false},"author":6,"featured_media":22476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[231,268],"tags":[],"geo_market":[],"class_list":["post-31906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-show","category-will-goodings"],"acf":[],"yoast_head":"\nSuper change would save $7b - FIVEAA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.fiveaa.com.au\/show\/will-goodings\/super-change-would-save-7-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Super change would save $7b\" \/>\n<meta property=\"og:description\" content=\"The Commonwealth budget would save $7 billion a year if workers were prevented from accessing their super before they turned 65. 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