It passed without much fanfare, but during 2025 the first wave of Gen X hit 60.

The oldest members of that grouping – born between 1965 and 1980 – have reached what’s called “preservation age”. This is when superannuation can be accessed.

Illustration by Simon LetchCredit:

Some Gen Xers have stopped work already – about 475,000 Australians aged 59 or less reported being retired from the workforce last financial year, Australian Bureau of Statistics (ABS) figures show.

Gen X, which takes its name from the 1991 novel Generation X by Canadian author Douglas Coupland, has lived in the shadow of the bulging Baby Boomer age group it follows.

But as for Boomers, retirement choices for the generation that grew up with landlines, cassette tapes and VHS rentals will shape the national economy and have a huge effect on government budgets.

Gen X has hit 60 as retirement choices become more diverse and complex.

The expected retirement age in Australia has climbed from below 64 years in 2010 to 66.5 years, research by KPMG shows. There is some variation between men – who have an expected retirement age of 67 – and women, at 65.3 years.

But not everyone who exits the workforce stays out. ABS figures show more than 20 per cent of current retirees move back into the labour market, often in casual........

© The Sydney Morning Herald