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3.4.2 Age Equalisation For Females
In this section
In the 1993-94 Budget the Government announced that the age at which females can be granted an income support pension on the basis of age would be gradually increased to bring it into line with pension age for males.
Income support pension is:
- a social security pension
- a service pension;
- an income support supplement.
Currently, the pension age for a veteran is 5 years earlier than pension age for a non-veteran.
Male Pension Age
- If a veteran = 60 years. Veteran pension age is specified in VEA section 5QA.
- If a Non-Veteran = 65 years. Pension age for non-veterans is specified in VEA section 5QB.
Pension age for a female is subject to age equalisation. Pension age for females is being raised by 6 months every two years, so that by 1 January 2014 the eligibility ages for males and females will be the same.
From 1 July 2017, the pension age for both male and female non veterans born on or after 1 July 1952 will progressively increase by 6 months every 2 years, so that by 1 July 2023, pension age for a non veteran will be 67. Veteran pension age will not change so by 1 July 2023 pension age for a veteran will be 7 years earlier than pension age for a non veteran. A table explaining this gradual increase can be found in 3.4.1 Age requirements.