- Age of aged pension to be raised to 67

- Single pension to rise by $32.49 a week

- Pension for couples to rise by $10.14 a week

People will be working until they are 67 to pay for the Federal Government's $14.2 billion reform of the pension system.

Under the changes, the pension for single people will be raised by $32.49 a week, while couples will have their pensions increased by $10.14 a week.