His plan has been heavily criticised by seniors and the Labor Party, with opposition spokeswoman for families Jenny Macklin saying the legislated rise to 67 had not begun yet, and the government would need to account for serious age discrimination in the workplace before lifting it to 70.

Hard truth: Treasurer Joe Hockey has indicated that his generation would have to work for longer. Credit:Alex Ellinghausen

But the Productivity Commission and the Grattan Institute both support lifting the age to 70, saying it is reasonable in the face of an ageing population.

The data shows if Australia moved to lift its pension age to 70 after 2023, it would be doing so before most other countries had finished lifting their pension age to 67. Canada will finish lifting its pension age to 67 by 2029; Germany will complete the process by 2029, while the US will be done by 2036. China has no plans to lift it above 60.

It is understood that if the pension age was lifted to 70, the rise would be staggered over half a decade or more.