A chart that featured in a November
30 article in The Australian by
demographer Bernard Salt shows
two possible pathways beyond 2012.
One assumption puts net overseas
migration at 140,000 a year and the
other at 240,000 a year. The second
chart shows the net addition to the
Government
spending across
housing, health,
infrastructure
and pensions
will have to
increase further
to accommodate
greater boomer
numbers.
the future for
BIG AUSTRALIA
Salt argued net overseas migration
of 242,000 people a year in the next
40 years could provide the skills and
tax required to support the transition
of baby boomers into retirement.
Government spending across
housing, health, infrastructure and
pensions will have to increase
further to accommodate greater
boomer numbers.
21
retirement population averaged
about 40,000 a year between 1950
and 2010. From 2010, more than
100,000 people annually joined the
retirement ranks, with the number
tipped to rise to 140,000 a year.
Whatever stage you are at in your
life, there is ne ver a better time for
you to plan your future. Speak to
your adviser to see how they can
help.