MacroPlan Dimasi provides some fresh data on our ageing population

We are all familiar with the basic stats on our ageing population. A report by MacroPlan came across our desk today with a few interesting twists:

• Australia has an older age structure than the USA thanks to very low levels of immigration in the 1970s and 1980s
• people older than 60 have four times greater probability of utilising health services – which will influence ability to continue to work
• people aged 65+ seeking full-time or part-time work will significantly increase, particularly for females and they will move closer to job opportunities. Macro plan calls them the ‘born again’ wealth creators
• the impacts of health and ageing on the economy are likely to be five – 10 times greater than the carbon tax/climate change
• the annual increase in the number of people aged 65–74 jumps from 40,000 persons every year in 2006 to 100,000 persons every year in 2012
• only 31% of retirees who receive a superannuation lump sum invest the money. About 70% pay off debt, buy goods or help their family