Australia's Government Scraps Plan to Raise Pension Age to 70

(Bloomberg) -- Prime Minister Scott Morrison said his government was scrapping plans to raise Australia’s retirement age by three years to 70.

The proposal, made by then Treasurer Joe Hockey in the unpopular 2014 federal budget, was never legislated and gave the main opposition Labor party ammunition to attack the government.

Morrison, who replaced Malcolm Turnbull as prime minister last month and is seeking to reverse the government’s slumping poll ratings, said the official pension age would stay at 67.

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