You will notice some TV adverts that are currently talking about a 2015 Intergenerational Report that the Government has produced which covers off how Australia will change over the next 40 Years. The report covers off on areas such as population growth, workforce participation, workplace productivity, economic projections, environment, Government budgets and how to prepare for the future. If you are not interested in reading the full report or watching the video the TV ad suggests to, then here are some key figures for you:
- Life expectancy of those born today – males 91.1 yrs going to 95.5yrs, females 93.6 yrs going to 96.6 years
- Population in 2055 will be 39.7 million
- 40,000 people will be over 100 yrs in 2055 compared to 5000 now
- Number of people aged between 15-64 for every person over 65 is 4.5 today and will be 2.7 in 2055
- Those 65+ working will increase from 12.9% to 17.3%
- Economic growth will remain constant at 2.8%
- Annual income to rise from $66,400 to $117,300
- Health costs pp expected to rise from $2,800 to $6,500
- Aged care costs pp expected to rise from $620 to $2,000
