Concetta Fierravanti-Wells (NSW, Liberal Party, Minister for International Development and the Pacific) Share this | Hansard source

Thank you, Senator O'Neill, for that question. I will just start off by saying that Australia's population is ageing, and the government has had to make some tough decisions to ensure the age pension remains sustainable and supports those most in need. The 2015Intergenerational report identified that, for every person aged 65 and over, the number of people of traditional working age—being 16 to 64 years old—had fallen from 7.3 people in 1974-75 to an estimated 4.5 people today. By 2054-55, this is projected to nearly halve again to only 2.7 people. Since the coalition formed government in 2013, pensions have increased by $86 a fortnight for singles and about $130 a fortnight for couples.