Baby Boomers and Ac/ve Ageing: What is the Future for South Australia?

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1 Baby Boomers and Ac/ve Ageing: What is the Future for South Australia? Dr Helen Feist Ac/ng Director Australian Popula/on and Migra/on Research Centre University of Adelaide 20 th August, 2015

2 Who are the baby boomers? Born between 1946 and 1964 A result of Post- WWII op:mism Have changed society at every stage of their lives Now moving into the third age of re:rement and older age

3 Baby Boomers and Popula/on Ageing 14% of Australia s population is currently aged 65+ but the number of older people is set to increase greatly in the coming years Number of Persons Projected number of persons aged 65+ in Australia 2011, 2021, Australia 2011 (actual) Australia 2021 Australia 2050

4 Baby Boomer Myths Baby boomers are healthier than previous genera:ons Baby boomers are op:ng to re:re early for lifestyle reasons Baby boomers are protected because they own their own homes Baby boomers are cashed up and spending the kids inheritance

5 Characteris/cs of Baby Boomers Have different characteris:cs and health behaviours than older and younger genera:ons Unprecedentedly large cohort First genera:on to grow up in an affluent society Unprecedented educa:onal and employment opportuni:es Greater access to health and welfare services First genera:on with ready access to immunisa:ons, an:bio:cs, accelera:ng development of diagnos:c technologies and pharmalogic and surgical therapies

6 Health Status at Mid- life Baby Boomers Compared to Pre- War Genera/on Health indicators Baby Boomers At Mid- life Pre- war Genera:on At Mid- life % % Obesity Diabetes 9 3 Asthma 10 5 Hearing loss 17 8 Arthri:s Migraine 6 4 Back problems 9 6 Mul:ple condi:ons ( 3) High cholesterol 14 8 Alcohol risk Currently smoking Emphysema/bronchi:s 3 5 No private health cover Source: ABS; NHS ;

7 Baby Boomers and Pre- war Genera/on As They Enter Old Age, Social Indicators Source: ABS Census 1981 & 2006 Social Indicators Social Supports Entering later life without a spouse Baby Boomers Pre-war Generation at mid-life at mid-life % % Childless 14 9 Living alone 11 6 Education Completed secondary 43 6 school Bachelor degree or higher 19 3 Religion Identify as Christian Housing Owner Purchaser Rental No Private Health Cover Overseas born NES Overseas born 20 12

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9 Labour Par/cipa/on Rates for Baby Boomers Labour Force Participation Status Males Females Total % of total Employed (fulltime and part time) 1,883,254 1,646,261 3,529, Unemployed, looking for work 79,120 60, , Not in the labour force 545, ,227 1,444, Total (includes 'not stated') 2,647,336 2,720,583 5,367,

10 Issues Rela/ng to Increased Re/rement Age Health issues Inequali:es types of employment Need for flexibility in - transi:oning to re:rement - changing types of work later in life Issues of discrimina:on against older workers, employer agtudes Training and retraining issues What happens to our pool of volunteers and social capital?

11 Volunteering Rates by Age, Greater Adelaide, Rest of SA and South Australia, 2011 Percent Volunteer Greater Adelaide Rest of SA South Australia Age

12 Rates of Providing and Receiving Unpaid Assistance, 2011 PROVIDE ASSISTANCE % 80+ % % Greater Adelaide Rest of SA Total SA TOTAL AUSTRALIA RECEIVE ASSISTANCE % 80+ % % Greater Adelaide Rest of SA Total SA TOTAL AUSTRALIA

13 Intergenera/onal Giving of Time & Money Time Money Measure % households % persons b Gave Received Measure Gave Received % of sample (n households) % persons 20 4 Median number of hours per week per person involved Median value involved persons $ Average annual value per person involved $6,890 $20,500 Total annual value of time transferred (extrapolated to Australia) $30 billion $37 billion Average annual value involved persons only Total annual value of money transferred (extrapolated to Australia) $12,900 $3000 $23 billion $1.8 billion c

14 Addressing Diversity in Ageing There are no silver bullets no single policy interven:on will counteract the effects of ageing Introduc:on of a number of strategies involving Produc:vity, Par:cipa:on and Popula:on is essen:al To be most effec:ve they need to be introduced well before the ageing crunch Demographically Australia is bemer placed than any OECD country to effec:vely cope with ageing but it needs to begin appropriate policy interven:on now

15 How does Ac/ve Ageing fit into this picture? Ac:ve ageing is the process of op:mizing opportuni:es for health, par:cipa:on and security in order to enhance quality of life as people age. It applies to both individuals and popula:on groups. Ac:ve ageing allows people to realize their poten:al for physical, social, and mental well- being throughout the life course and to par:cipate in society, while providing them with adequate protec:on, security and care when they need.

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18 Conclusion Older people are great contributors to family and society We need to think of contribu:ons beyond simply employment and work Baby boomers represent both challenges and opportuni:es and with the right encouragement they can con:nue to be produc:ve, ac:ve ci:zens for decades to come