Will retiring at 70 become the new normal?

An analysis by KPMG found Australian workers expect to retire at their oldest age since the early 1970s, suggesting a fundamental shift in labour market dynamics post-COVID-19.  

KPMG urban economist, Terry Rawnsley, told The Australian. “There will be fewer who find it hard to work into their 60s.” 

Mr Rawnsley noted that countries such as Japan and South Korea, which were prime examples of rapidly ageing societies, had retirement ages of about 70.