Australian thinktank calls for retirement-age extension

A thinktank in Australia has announced calls for the country's age of retirement to increase, it has been revealed.

According to reports by AM, a broadcast provided by ABC Local Radio, the Committee for Economic Development of Australia (CEDA), by the year 2015, the retirement age should be increased from 65 to 67.

"It's not a radical proposal when you put it against a backdrop of what's happening in other countries around the world," said David Byers, chief executive of CEDA.

"Other nations, including the United States, the United Kingdom, Germany and Denmark are already moving their pension age to 67 or 68," he added.

Moreover, CEDA is also calling for Australia's official age of retirement to be directly liked to an individual's life expectancy.

Between countries, a person's retirement age can vary and it is also possible for the age of retirement to differ between men and women within the same country.