45 is far from retirement age for most.
It is now a Schedule 1 requirement that the applicant must not have turned 45 at the time of invitation to apply for the visa.
It seems that the Treasury and DIBP may not be singing from the same hymn sheet. A person of 45 years of age is a long way from retirement age, and will contribute potentially another 25 years of skilled labour to the Australian economy (and to their superannuation funds).
The visa system does not exist in isolation; it sits in a system of markets such as the local labour market, and increased longevity. Australia’s Future Tax Review discussed an increase in the preservation age for superannuation to 67 years to be phased in from 2024. For immigrants, there could be a greater need to work for longer to make up for a potential shortfall in retirement income through Australian superannuation.
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