So Australia just announced raising the Pension age (from 65 to 67 -- applies to people who are now about 50 and younger). The figure that came out with that - was that when the pension was established 80 odd years ago - it was for a life expectancy of about 67 - the expectation was that it was support for old people about to die. Since then - people are living much longer - and the age hasn't gone up.

Also note that Australia has compulsory Retirement savings (9% of Gross Income) for all employees! Which is probably going to be my plan A, since I don't expect the Gov to be able to afford to pay for me when I retire.