00:02Heading out onto the shop floor, this 71-year-old manager isn't interested in slowing down.
00:07I enjoy working in retail, obviously, doing it for many, many decades.
00:13It's down on the ground, dealing with customers.
00:16He and his wife get a part-age pension, but with a mortgage, neither one can afford to stop working.
00:22We need the income. We have poor super funds.
00:2715% of Australians aged over 67 were still working in 2025, up from 11% five years ago.
00:35More older people now are getting to retirement age and they may continue to have a mortgage.
00:40More people are getting to retirement age and they're single, so they have a different financial situation.
00:46The problem is, the more someone works, the more pension they lose.
00:49It's stacked against us doing those things. We do it at a grievous cost.
00:55Under the current rules, the first $300 a fortnight earned from work is disregarded from the age pension income test.
01:02That means a couple with no other income can earn a collective $996 a fortnight
01:08before their pensions are reduced by 25 cents in the dollar.
01:11Industry groups want those complex rules relaxed.
01:14They have experience, they have the skills, that's important.
01:18There's a huge benefit for the economy if they want to continue in the workforce.
01:23The Department of Social Services says the government's committed to reviewing the rate of social security payments at every budget.
01:30But for some, the benefits of work are more than economic.
01:33That keeps us alert and it's just the best balance.
01:39The Department of Social Services says the government's committed to reviewing the rate of social security payments.
01:41The Department of Social Services says the government's committed to reviewing the rate of social security payments at every budget.
01:41You
