Fewer people, less productivity and growth. Bleak times ahead for Australia. Could seniors be the solution? Chief Advocate Ian Henschke believes so.
The latest Intergenerational Report (IGR) released last week by Treasurer Josh Frydenberg highlighted the challenges to our economy – lower population, productivity and growth. However, the government could improve incentives for older Australians to keep working. The first step is to allow pensioners to earn more than $150 a week before being penalised.
The benefits: Whether by choice or circumstance, many seniors will continue working well beyond their parents’ working lives. Working longer we know promotes better financial health, but we also now know it promotes much better physical and mental health.
So getting the balance right between government payments, paid employment and superannuation is now critical to solving the nation’s problems. With 4 million retirees and almost 6 million baby boomers moving through the system we must reimagine and reinvent Australia. We must see older Australians as an asset, not a burden. The full article can be found in the link below: