The IMF is urging governments to lift the pension age in line with rising longevity. It says otherwise, people can look forward to a number of decades in retirement. CEPAR Director, Professor John Piggott, and CEPAR Chief Investigator, Professor Hal Kendig, are interviewed about the report findings.
Aged care worldwide is a booming business, literally. The number of people aged over 85 in Australia is predicted to grow to about 1.6 million over the next 40 years, presenting a significant challenge to industry and government. If the challenge of dealing with the growing diversity of needs, preferences and wealth of increasing numbers of elderly isn’t enough, on top of it are the added demands and aspirations of the baby-boomer generation.
Referred to globally as the “me generation” due to their relative power and wealth, the first of the post-war babies are reaching the official retirement age and are starting to use their influence for change. Members of this generation are used to getting what they want and have high expectations for their final years, says demographer Bernard Salt, a KPMG director.
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