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  2. Social security in Australia - Wikipedia

    en.wikipedia.org/wiki/Social_security_in_Australia

    The age pension was the first payment made by the Australian Government, dating back to 1909. [25] There is no automatic entitlement to an age pension in Australia, unlike in countries such as the UK or New Zealand. Taxpayer-funded pensions are means tested [26] (similar to the UK's Pension Credit), effectively making them another type of benefit.

  3. Retirement age - Wikipedia

    en.wikipedia.org/wiki/Retirement_age

    In Australia the retirement age was increased to 67 years in July 2023. [20] ... Pension age in the United States is determined on one's birth year, the earliest a ...

  4. Retirement - Wikipedia

    en.wikipedia.org/wiki/Retirement

    Retirement is the withdrawal from one's position or occupation or from one's active working life. [1] A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public pension benefits, although some are forced to retire when ...

  5. Superannuation in Australia - Wikipedia

    en.wikipedia.org/wiki/Superannuation_in_Australia

    On reaching age 65, or on ceasing employment after age 60 members have total access to their superannuation balance. In most cases this can be taken as a tax-free lump sum or a tax-free income stream. Decisions on when to retire are likely to be influenced by the government Age Pension which, as of July 2023, commences at age 67.

  6. Australia to make pension contributions for workers on paid ...

    www.aol.com/news/australia-pension-contributions...

    Under the new policy, the government will contribute 12% of a worker's wages into their pension fund, known in Australia as superannuation, on top of their government-funded parental leave. The ...

  7. Pension - Wikipedia

    en.wikipedia.org/wiki/Pension

    A pension (/ ˈ p ɛ n ʃ ən /; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.

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