Coping with Population Ageing in Australia

As in other OECD countries Australia's population is ageing progressively. On unchanged policies, this will increase government outlays for public pensions and health care, causing a deterioration in budget balances, and reduce economic growth (mainly by lowering growth in the labour force). Ne...

Full description

Bibliographic Details
Main Author: Carey, David
Format: eBook
Language:English
Published: Paris OECD Publishing 1999
Series:OECD Economics Department Working Papers
Subjects:
Online Access:
Collection: OECD Books and Papers - Collection details see MPG.ReNa
LEADER 01762nma a2200241 u 4500
001 EB001827616
003 EBX01000000000000000994062
005 00000000000000.0
007 cr|||||||||||||||||||||
008 180616 ||| eng
100 1 |a Carey, David 
245 0 0 |a Coping with Population Ageing in Australia  |h Elektronische Ressource  |c David, Carey 
260 |a Paris  |b OECD Publishing  |c 1999 
300 |a 67 p.  |c 21 x 29.7cm 
653 |a Economics 
653 |a Australia 
041 0 7 |a eng  |2 ISO 639-2 
989 |b OECD  |a OECD Books and Papers 
490 0 |a OECD Economics Department Working Papers 
024 8 |a /10.1787/616221120437 
856 4 0 |a oecd-ilibrary.org  |u https://doi.org/10.1787/616221120437  |x Verlag  |3 Volltext 
082 0 |a 330 
520 |a As in other OECD countries Australia's population is ageing progressively. On unchanged policies, this will increase government outlays for public pensions and health care, causing a deterioration in budget balances, and reduce economic growth (mainly by lowering growth in the labour force). Nevertheless, the prospective deterioration in Australia's budget finances is much less than in most other OECD countries because the government only provides the first pillar of retirement income arrangements and means tests this age pension. Moreover, superannuation (private pension fund) benefits are growing, reducing entitlements to the age pension. Even so, the budget costs of population ageing could be lowered by reducing the scope for early retirees to draw on superannuation savings and by requiring individuals to prefund part of the costs of long-term aged care. But the greatest challenge facing Australia policy makers in reducing the costs of population ageing is to roll back the trend ..