Fed: ACTU to push case for older workers
MELBOURNE, April 23 AAP - An expected decline in the number of older Australians inthe workforce will put an enormous strain on the economy and public services, unions andbusiness leaders predicted today.
The ACTU and the Business Council of Australia (BCA) will today launch a report intothe social and economic impact of Australia's ageing population.
The report, by Emeritus Professor Sol Encel of the University of NSW, found a strongculture of early retirement in Australia compared to other advanced countries.
"We need to support older Australians who want to stay in the workforce longer, whetherit is to maintain their incomes or because they find it fulfilling," ACTU president SharanBurrow and BCA chief executive Katie Lahey said in a joint statement.
"Estimates put the cost of Australia's ageing workforce at $27 billion in lost economicgrowth and spending each decade.
"Health, welfare and pension systems will be ill-equipped to support a growing classof retired Australians."
The ACTU said over the past 10 years there had been 1.4 million new entrants to theAustralian workforce.
However, in the decade between 2020 and 2030, there would only be 120,000 new entrantsto the workforce.
"As a result, where there are currently six working Australians supporting each retiredperson, by 2025 this ratio will be one-to-three," Ms Burrow and Ms Lahey said.
AAP bja/gfr/kim/br
KEYWORD: AGEING
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