Essay On Australia's Ageing Population

Australia is a thriving nation continually growing and ageing. According to The Treasury, 2007, the ageing of the population is the direct consequence of sustained low fertility rate whereas, an increased life expectancy at birth. Migration will mitigate these influences, as generally, the majority of migrants are younger than Australia’s resident population. However, according to the 2015 Intergenerational Report, the male life expectancy is projected to increase from 91.5 years to 95.1 years in 2055, whereas the female life expectancy is projected to increase from 93.6 years to 96.6 years in 2055. Furthermore, the number of Australians aged 65 and over is projected to more than double by 2055. As a result, the healthcare for the elderly, …show more content…
Australia’s ageing population may induce numerous health challenged to the community. An increase in elderly people living with chronic diseases such as heart diseases and disabilities may result in a higher demand for health services. According to The Treasury, The number of Australians aged 65 and over is expected to increase rapidly with around 2.5million people aged 65 and over in 2002 whereas it is projected to increase to 6.2million people aged 65 and over in 2042. The number of Australians aged 85 and over is expected to rise from 300,000 in 2002 to 1.1million in 2042. However, with a decline in the workforce as a result of an ageing population, the workforce shortages force a financial strain to provide these health services. According to The Treasury, the growth in the number of people of workforce age is expected to fall from around 1.2% per annum over the last decade to almost zero in forty years time. In 2002, there were more than five people of working age to support every person aged over 65. By 2042, there will only be 2.5 people of working ages supporting each person aged over 65. This provides an incentive to indicate that an ageing population will be detrimental to Australia’s growth as a