1. 1 Rewarding older workers

2. 2 Old-age poverty Percent in poverty (%)

3. 3 Reduce old- age poverty Target gross replacement rate of 60-70% Fiscal sustainability 1 23 Criteria for success

4. 4 5% increase in age pension for every year retirement is delayed Requirement 1.Continue working and contributing to superannuation beyond the age pension age 2.Do not access the age pension My recommendation

5. 5 % of median salary53%55%63% Assumptions: Age 56, $40K salary, $55K super/assets Criteria 1: Reduce old-age poverty Delay to 70 with proposed scheme Poverty line (50-60% median salary) Income

6. 6 % of median salary53%55%63% Assumptions: Age 56, $40K salary, $55K super/assets Criteria 1: Reduce old-age poverty Delay to 70 with proposed scheme Poverty line (50-60% median salary) Income

7. 7 % of median salary53%55%63% Assumptions: Age 56, $40K salary, $55K super/assets Criteria 1: Reduce old-age poverty Delay to 70 with proposed scheme Poverty line (50-60% median salary) Income

8. 8 Replacement rate57%60%65% Assumptions: Age 56, $80K salary, $155K super/assets Criteria 2: Target gross replacement rate Target gross replacement rate (60-70%) Income

9. 9 Replacement rate57%60%65% Assumptions: Age 56, $80K salary, $155K super/assets Criteria 2: Target gross replacement rate Target gross replacement rate (60-70%) Income

10. 10 Replacement rate57%60%65% Assumptions: Age 56, $80K salary, $155K super/assets Criteria 2: Target gross replacement rate Target gross replacement rate (60-70%) Income Delay to 70 with proposed scheme

11. 11 Additional people 70-79 who delay retirement Impact (bps) 2%0 3.5%3 5%7 10%18 Sensitivity analysis Impact (bps) Criteria 3: Fiscal sustainability

12. 12 Evaluation Reduce old- age poverty Target gross replacement rate of 60-70% Fiscal sustainability 1 23