Australians are ignoring government pleas to work longer and instead are taking early retirement when they hit their 50s, new figures show.
Last financial year, the average age at retirement for people aged 45 and over was 53.8 years.
The bureau’s latest survey on ”retirement and retirement intentions” in Australia suggests government plans to increase the retirement age to 67 may face some resistance.
According to EuroStats, in every European country except for Sweden, Denmark and Finland, at least a third of the population retire before age 55, while in these countries, a fourth of the population retires before this age. In countries like Poland and Slovakia, more than half of people retire by age 55.
Maybe it’s time to re-evaluate retirement age based on what people are actually doing, rather than what governments want them to do.