Abstract
The 2015 Intergenerational Report makes it clear that Australia will have an ageing population by 2055 and the undeniable fact that we are living longer. Life expectancy will, by 2055, be well into the 90s. It is also predicted that the participation rates of people aged 65 and over will increase significantly from 12.9% in 2014-2015 to 17.3% in 2054-55. The report notes that this will provide a significant opportunity to benefit from the wisdom and experience of older Australians. What it is also means is that these older working Australians will contribute to income tax revenue receipts for the Australian Government. What does this then means for the expenditure side for the Government, with respect to the aged pension and the elephant in the room" superannuation?
Original language | English |
---|---|
Number of pages | 2 |
Journal | The Conversation |
Volume | 38777 |
Publication status | Published - 2015 |
Keywords
- superannuation
- pensions
- government policy
- Australia