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The Removal of the Compulsory Retirement Age Essay Example for Free

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 The Removal of the Compulsory Retirement Age Essay
However, http://how-to-write-a-college-paper853558.mystrikingly.com our superannuation system is in a transition phase, and some the details of the changes are contained in the table below: Age regulations and qualifications governing superannuation and social security systems 55| Age to which superannuation entitlements are compulsorily preserved. From age 55, preserved superannuation becomes available upon retirement. For people aged 55 to 60 years, Regulations under the Superannuation Industry (Supervision) Act 1993 (SIS regulations) define retirement as permanent withdrawal from the workforce.
A phased increase in the superannuation preservation age to 60 is to begin in 2015 and will affect people born after 30 June 1960.
    
 By 2025, people born after June 1964 will be subject to a preservation age of 60 years. | | People aged 55 years and over can access a range of social security pensions and benefits depending on their circumstances, e. g. Disability Support Pension, Newstart Allowance, Carer Pension and Widow Allowance.