specialty focus
‘ A seismic shift ’
A call for dignity : Australia ’ s ageing crisis – opinion
By Mark Woodland
Australia just topped the US News & World Report ’ s Best Countries ranking for a comfortable retirement because of our healthcare programs , pensions , and cost of living . Yet , the stark reality is that simultaneous population ageing and decline will change this in the near future .
We are ageing – not just as individuals or communities but as a global population . For the first time in history , people aged 65 and over will outnumber children under age five .
In 2006 , almost 500 million people worldwide were 65 and older . By 2030 , that total is projected to increase to one billion . As people live longer and have fewer children , family structures become transformed , leaving older people with fewer options for care .
This poses a complex , but important question : what will happen as populations age , all at once , globally ?
The truth is that Australia ’ s ageing population is straining existing health and pension systems , and we must act now or face an impending crisis .
EXISTING HEALTHCARE CHALLENGES An ageing population presents long-term economic and fiscal challenges , with fewer people of working age relative to the number of older Australians and a growing demand for quality care and support services .
Well-planned and well-managed population growth would help to deliver better outcomes , but we still need to ensure we ’ re creating a pipeline of healthcare workers for the future .
Our demand for care and support workers has already outpaced the availability of talent significantly .
The 2021 Australian Government Care Workforce Labour Market Study predicts a gap of more than 200 thousand full-time care workers by 2050 .
Medical specialisation can take over 10 years of study in some cases , and with the last baby boomers set to retire by 2031 , people who are thinking of becoming medical specialists need to make their career decisions now .
Shrinking ratios of workers to pensioners and people spending a larger portion of
“ Much of the
responsibility has fallen on the ‘ sandwich generation ’ – those caring for their children and their parents
their lives in retirement , increasingly strain existing health and pension systems .
A lower number of working-age Australians will result in lower tax revenues ; at the same time , expenditure on agerelated services is expected to increase .
Given the projected decrease in tax revenues , our government aims to address this challenge by shifting our reliance from pensions to superannuation as a key source of retirement income , calling it a “ silver lining ” in The
Intergenerational Report . While Treasurer Jim Chalmers applauded this shift , calling it the “ intergenerational genius of super ,” it fails to consider the burden on family members who provide informal support , often tapping into their own income and assets to provide adequate care for their parents or grandparents .
SUPPORTING INFORMAL CARE WORKERS Australia ’ s aged care system is becoming overwhelmed as facilities reach capacity or become too expensive .
20 agedcareinsite . com . au