Firefighters and paramedics are regularly compelled to retire early due to particular barriers to working beyond the age of 60, thereby facing substantial risk of having inadequate retirement incomes. This paper presents the findings from simulations of retirement income trajectories for these emergency workers in Tasmania and discusses a range of policy responses to make early retirement more feasible and secure. 

Findings on firefighters

• Under relatively optimistic assumptions an early-retiring single firefighter can expect their superannuation to run out six years before male life expectancy, nine years before female life expectancy and 15 years earlier than for a regular retiree.
• Under alternative scenarios, incorporating plausible risks, an early-retiring firefighter can expect their superannuation to run out 15 or more years before life expectancy.
• Alternatively, to extend superannuation longevity through their expected life, an early-retiring single firefighter would need to reduce their annual living expenses by 18.5%. 

Findings on paramedics

• Even under optimistic assumptions, an early-retiring single paramedic can expect their superannuation to run out seven years before their male life expectancy, ten years before female life expectancy and 14 years earlier than for a regular retiree.
• Considering plausible risks (such as not owning a home, being single, lower investment returns and others), an early-retiring paramedic’s superannuation could run out 15 or more years or more before life expectancy.
• To extend the expected life of their superannuation through their expected lifespan, an early-retiring paramedic would also need to reduce their annual living expenses by 18.5%.