Policy Impact: Policies need to take account of the different consequences of voluntary and involuntary workforce transitions at mature ages for individuals and governments.IntroductionAustralia's population is ageing rapidly, and there is growing concern for anticipated shortages of labour force and increases in government payments on disability and age pensions . The Government's Intergenerational Reports have underscored the significance of demographic change and the importance of labour force participation for productivity and fiscal sustainability.With expectations for longer and relatively healthier later lives, working more years is becoming increasingly necessary and feasible . But workers at mature ages can be vulnerable, with limited choices. Among Australia National Seniors aged 50 to 64 years participating in the Ageing Baby Boomers in Australia project in 2009, 12% reported having had to retire due to redundancy and 43% left paid work due to their own or their spouses’ poor health . Among people who were not in paid work at mature ages, 37% had more than half of their household income from public pension and benefits, and this ratio differed significantly between those who were voluntarily (35%) or involuntarily not in paid work (45%) , as well as those who were living in a household
Australasian Journal on Ageing – Wiley
Published: Jan 1, 2018
Keywords: ; ; ; ;
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