Australia’s population is getting older at a rapid rate. About two million people are aged 70 years or older are expected to rise. The ageing of the population is caused by two factors which are, increased life expectancy and decreasing birth rates. Population changes in Victoria are similar to the Australian pattern. An ageing population is a shift in the country’s population towards older ages and this is usually reflected in an increase in the proportion of the population that is elderly.
Older people without assets or superannuation will be disadvantaged. This particularly applies to women. In 2006 40 per cent of people aged 65 to 74 were living alone, this increases as people age. There is a considerable diversity of language and culture in the older population. As people age they are more likely to have disabilities there will be an increasing number of older people needing support to maintain. It will also increase the demand for the services in rural areas.
By the year 2050 60 billion dollars per year will have to be found to support ageing population. The question is where will it come from? Who should pay when the baby boomers start retiring? Were the questions asked by the public community. The elder generation’s children have to be feeding them, Housing them and clothing them.
“This is taxing people twice which is unfair and unrealistic” said by Peter Costello. In 30 more years we will be living longer an average of four years, 79 for males and 84 for females. This is the greatest economic challenge faced by this country. Something or someone has to give, the older people are not earning for themselves any more so the younger generations are going to have to pay. Most Australians are under prepared for life after work the plan is instead of being on the age pension people over 70 could be financially supported by the adult children because with the ageing population increasing it is hard to keep dealing and giving...
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