Superannuation is unsustainable. The longer the delay in taking measures to restore long-term affordability the worse the problem will become.
As our population ages, the number of people receiving superannuation will rise from 717,000 to 1.43 million.
The cost of superannuation is projected to rise from $13 billion to $76 billion by 2050.
ACT has advocated for raising the retirement age since 2011. We are the only party with a policy to bring down the cost of superannuation for future generations of taxpayers.
ACT will raise the retirement age. Starting in 2023 we will raise the age of entitlement to superannuation from 65 to 67, at a rate of two months per year, finishing in 2035.