OZ - Retirement is a thing of the past, says Costello
There would no longer be any such thing as full-time retirement, Treasurer Peter Costello said today, adding that he had no plans to retire at 65.
Asked if he would like to see Prime Minister John Howard, now 64, stay in his job into his 70s, Mr Costello told ABC radio: "I'm encouraging people, whilst they have contributions to make, to continue to do it.
"And that applies to you, me, everybody ...
"But in politics, as you know, the voters decide that, at the end of the day.
"They decide whether or not to compulsorily retire you."
Mr Costello was speaking after yesterday outlining the government's vision to keep older people in the workforce longer and encourage lone parents and disabled people back into paid jobs.
Under the proposals, superannuation changes would give older people incentives to keep working, including allowing them to work part-time and top up wages through their super.
Mr Costello said today the attitude of employers was the biggest obstacle to part-time work for older people.
Older workers were skilled, disciplined and reliable, and their levels of sick leave declined as they aged.
The days of throwing them on the scrap heap at 40 or 50 were over, and employers had to be re-educated to this end, he said.
"There's going to be no such thing as full-time retirement," Mr Costello told ABC radio.
"There's going to be part-time retirement, and part-time work."
Mr Costello said he personally would continue to work after 65, currently considered the mandatory retirement age, and said early retirement led to the loss of a lot of interest in life, workmates and skills.
"I have no plans whatsoever to retire at 65," Mr Costello told Sydney radio 2GB.
"Everybody I know, and particularly those who have taken early retirement at 55, says after a while, 'Geez, I'm bored stupid, my health's declining, I don't have enough to do.
"... It's the same old story, you know you've got to fill in 12 hours a day, seven days a week, you got to do something."
Prime Minister John Howard said he expected attitudes towards retirement would change over the next 30 or 40 years.
"There's not going to be an immediate effect, but over time it will bring about a very significant cultural change," Mr Howard told Melbourne radio station 3AW.
"This is very much about the next three or four decades.
"In my experience a lot of people well into their 60s are making very useful contributions in all sorts of areas and they want to keep on working, and when they stop working their life and their psychology changes for the worse."
Mr Howard said he hoped the reforms to the superannuation laws would also change employers' attitudes towards older workers.
"I talk to a lot of employers in major banks and in major organisations who are now actively pursuing ... policies of not only retaining but recruiting mature age workers," he said.
"That is a lead that I hope other firms follow."
Mr Howard said Australia would not follow the lead of US Federal Reserve Chairman Alan Greenspan, who has proposed a cut in the aged pension.
"I have to make the point, because we don't have a big budget deficit and because our fiscal position is very strong, we don't have to contemplate radical solutions such as that," Mr Howard said.
Can't govern by Google, says Costello
Mr Costello also accused Labor leader Mark Latham of making up policy from the internet and said: "You can't govern a nation by Google."
Mr Costello said Mr Latham had had a long honeymoon as Labor leader with the media, but the hard business of marriage would soon begin.
Mr Costello said Mr Latham would have to pick up on policy, an area in which he was weak.
"He's one of these people, I think he gets on the internet, he gets an idea and he says, 'listen to this'," Mr Costello told ABC radio.
"And then the next day he gets on the internet and he's got another idea, 'listen to this' ...
"After a while you say 'well hang on, what you said on Monday's quite different to what you said on Wednesday'.
"And if you ever got into government you'd have to make this all add up.
"And you can't govern a nation by Google."
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