The Federal Budget this week has announced that from 1 July 2025, the Age Pension qualifying age will continue to rise by six months every two years, from the qualifying age of 67 years that will apply by that time, to gradually reach a qualifying age of 70 years by 1 July 2035.
Check out your Age Pension age below
| Date of Birth Retirement Age | |
| 1 July 1952 and 31 December 1953 | 65.5 |
| 1 January 1954 and 30 June 1955 | 66 |
| 1 July 1955 and 31 December 1956 | 66.5 |
| 1 January 1957 and 30 June 1958 | 67 |
| 1 July 1958 and 31 December 1959 | 67.5 |
| 1 January 1960 and 30 June 1961 | 68 |
| 1 July 1961 and 31 December 1962 | 68.5 |
| 1 January 1963 and 30 June 1964 | 69 |
| 1 July 1964 and 31 December 1965 | 69.5 |
| 1 January 1966 and later | 70 |
To read more about the budget changes click here
Olivia Maragna is the co-founder of Aspire Retire Financial Services and was awarded the Australian 2012 AFA Adviser of the Year.
Olivia’s advice is general in nature and readers should seek their own professional advice before making any financial decisions.
You can follow Olivia at https://twitter.com/oliviamaragna
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