Mitch Fifield (Victoria, Liberal Party, Assistant Minister for Social Services) Share this | Hansard source

There will be changes to indexation arrangements and the eligibility threshold for the age pension in three years time. From July 2025, the qualifying age to receive the age pension will continue to increase from 67 years by six months every two years until it reaches 70 years. We are keeping our commitment to the Australian people and ensuring that changes will not come into effect until after the end of this parliamentary term.

It will come as no surprise, I know, to colleagues that Australia's population is ageing. We are living longer; we are living better. That is something to be celebrated. And it is incumbent upon all governments to ensure that we get the policy settings right to make sure that our safety net is sustainable, not just now but into the future. That is why we are doing this—because we want to reinforce and underpin that safety net.