Productive Ageing

| November 30, 2016

In 1970, only 8% of Australians were older than 64. In 2050, it’ll be almost a quarter. Pension age is increasing, but this still lags behind growing life expectancy.

According to the GAP report on Productive Ageing, two million older people are willing and able to work – in fact, their underemployment currently costs Australia $10.8 billion a year in lost GDP. An increase of 3% of workplace participation in people over the age of 55 would increase GDP by $33 billion, while 5% growth would see 750,000 benefit recipients become tax payers and give the economy a $48 billion boost.

So why aren’t we employing Australia’s mature citizens? Ageist prejudices persist, as a fixed retirement age labels people who reach it as unemployable. Besides affecting job prospects, ageism can have a profound impact on someone’s confidence, financial situation and quality of life.

That we are living longer, healthy lives shouldn’t be a threat – it is an opportunity to be seized. For the next two months, we will be exploring the many facets of productive ageing. Please contact Svetlana at sstankovic@openforum.com.au to share your story, opinion or blog idea.

 

RELATED CONTENT:

editor
Open Forum is an interactive policy discussion website hosted and moderated by Global Access Partners (GAP).

2 Comments

  1. davidhudson

    January 2, 2017 at 9:07 am

    Productive Ageing

    The National Seniors Productive Aging Center (NSPAC), co-supported by National Seniors Australia and the Department of Social Services, tries to propel learning and comprehension into all parts of beneficial maturing to enhance the personal satisfaction of individuals matured 50 and over. NSPAC has examined and distributed top to bottom reports on a scope of themes, including full grown age work, matured care, wellbeing and the maturing of Australians from vagrant foundations.

    • Watcher

      January 9, 2017 at 4:54 am

      Productive ageing reply

      I think seniors living in Australia have better work prospects than most countries. By law an employer cannot discriminate because of age. I am 72 years of age and have been working in the disability care industry for a State Government for 20 years. I am still employed as a casual and can work hours to suit my lifestyle and age. Last year the Department I work for employed a 70 year old man as a casual who had no previous experience in the industry. There are incentives for people who wish to continue working after retirement age. There could be improvements of course but on the whole it is not bad. When I reached 65 I could have continued in my full time position until I died or was unable to continue due to health. However I did not believe that I should be taking a full time position from someone else who probably had a mortgage, children and higher financial needs than me. I retired and became a casual. Providing we are not disadvantageous to the younger population who want to work I believe working within your own limits past retirement can be very advantageous.

Leave a Comment