No, it is not compulsory to retire at 65 in Australia. The age of 65 was traditionally considered the retirement age, but it is not a mandatory retirement age set by law. In fact, the Australian government has been gradually increasing the eligibility age for the Age Pension and the preservation age for superannuation.
Actually, the eligibility age for the Age Pension is currently 66 years and will increase further in the future. This means that you can choose to retire and access the Age Pension once you reach the eligibility age or continue working if you prefer.
Regarding superannuation, the preservation age determines when you can access your superannuation funds. The preservation age ranges from 55 to 60, depending on your date of birth. Once you reach the preservation age, you have the option to retire and access your superannuation, but it is not mandatory.
Ultimately, the decision to retire at any age is a personal choice based on various factors such as financial readiness, health, personal circumstances, and individual preferences. It is advisable to plan for retirement, consider your financial situation, and seek guidance from a financial advisor to make informed decisions about retirement timing and accessing retirement benefits in Australia.