ONE person who knows all about the confusion of retirement is Orange Men’s Shed member Denis Barton.
Unfortunately, he didn’t have a choice.
After more than 40 years of work, he was told he was no longer required by his employer Australia Post in Mackay.
He said this was a common problem older workers faced.
“I originally planned to retire when I was 60, but my employer thought I was too old to adapt to their new policy of just making money,” he said.
“I was demoted from supervisor for no reason after 42 years and, because I was over 55, I was pushed to retire.
“For guys in our age group it’s really hard to get back into the workforce. And when you’re pushed out, it leaves a really bad taste in your mouth.”
Now, Mr Barton is faced with the dilemma he may not have enough money saved to live comfortably in retirement.
“Most of us who retire with superannuation don’t have enough to live comfortably,” he said.
“Costs of everyday living make it really difficult. I believe it’s very hard to retire on a nest egg any less than $500,00. You need more like a million.”
It was a sentiment shared by fellow men’s shed member Ken Frame.
He was forced to retire because of ill health, and now relies upon his wife to earn enough to survive.
“If my wife wasn’t working we couldn’t afford our mortgage or car rego and would probably have to sell our house and end up in a caravan park,” he said.
The two retirees said the government should do more to help, including easier access to the pension, and benefits including reduced medical, electricity and gas bills.