Population Ageing, Participation Rates & Policy Options

Size: px
Start display at page:

Download "Population Ageing, Participation Rates & Policy Options"

Transcription

1 Population Ageing, Participation Rates & Policy Options Guay Lim Melbourne Institute of Applied Economic and Social Research

2 Preamble - the 3 Ps Population Participation Productivity

3 Age Population (PC) Males 1945 Females 0-3% 0% 3% per cent of population 1945 Age Males Females 0-3% 0% 3% per cent of population

4 Participation Rates Participation Rates by Age Groups female male

5 Productivity inverted U-shape - productivity increase with age then decline after middle years PC Report (2005) - Overall, there is insufficient evidence that ageing per se will either enhance or erode labour s productivity prospects

6 Population, Participation, Productivity per capita GDP growth will slump to 1.25% per year by mid 2020s half its rate in Fiscal pressure increase in health and aged care spending Aggregate Participation Rates (Victoria) projected ( ) actual ( )

7 3 Ps + 1 Population Participation Productivity Add 4 th P Policies

8 Policies (PC Report) Population policies have limited potential Fertility rates are insensitive to policy Net migration Productivity performance is critical Incentives to be efficient and innovative Scope to lift participation drivers of participation?

9 OECD studies Jaumotte (2003) Focus: female labour force participation Key drivers: education, childcare support Burniaux, Duval and Jaumotte (2003) Focus: decision to retire Key drivers: pension reforms (e.g. removal of early retirement schemes) For Australia: impact of disability benefits

10 Estimation of a Labour Supply and Welfare Participation Model for the Australian Population by G. Kalb & H. Buddelmeyer MI Tax and Transfer Simulator (MITTS) preference for labour supply highest for people with high educational level, who are in their thirties. The preference for labour supply is lower for women with children, in particular when the children are young. there is a (financial or psychological) cost to welfare participation.

11 Health Status and Labour Force Participation: Evidence from Australia by L.Cai & G.Kalb Household, Income and Labour Dynamics in Australia (HILDA) survey results indicate that better health increases the probability of labour force participation for all four groups males aged 15-49; males aged 50-64; females aged and females aged 50-60

12 5 key policy drivers of participation rates Education Childcare Health Welfare Pension

13 Can policies improve participation rates? Aggregate Participation Rate (Victoria) policies ageing population

14 Report on a study for the Victorian Department of Treasury & Finance Guesstimates of likely effects of policies on participation rates - by gender and age-groups Who will be affected, when, how much? Education cohort effect, 20+, 2017 Childcare women only, 25+, 2005 Health small change, 35+, 2012 Welfare men & women, 55+, 2005 Pensions women & men, 60+, 2013

15 Policy Effects on Age-Specific Participation Rates: Males (percentage point increase) Age group Education attainment Better childcare Better health Welfare reforms Delayed retirement

16 Policy Effects on Age-Specific Participation Rates: Females (percentage point increase) Age group Education attainment Better childcare Better health Welfare reforms Delayed retirement

17 Gradual shift upwards 100 Male Participation Rates 90 Female Participation Rates scenario scenario

18 Can policies improve participation rates? Aggregate Participation Rate (Victoria) policies ageing population

19 Range of Policies! Policy option Improved educational attainment Improved childcare services Improved health Welfare reforms Delayed retirement Contribution to improvement in participation rates 4.7 % 1.1 % 0.9 % 2.5 % 1.6 %

20 Where will our workers come from? 20-24: improved education attainment 25-54: childcare (women) 35-54: health & welfare 55+ : pensions & retirement policies

21 more Ps? probabilities & possibilities Professors or Plumbers skills? Public/Private health care lifestyle? Parental-support working environment? Pensions financial incentives? Payment of benefits welfare dependency?

22 Pessimistic/Optimistic scenario? Old of tomorrow different from old of today better educated, healthier more technological advances? Projections not Forecasts

M e d i a R e l e a s e

M e d i a R e l e a s e M e d i a R e l e a s e Under embargo until 12.15 am, Friday 22 November 2013 This release and its content are not to be provided to anyone outside your agency. Third parties should not be approached for

More information

Effects on pensioners from leaving the EU

Effects on pensioners from leaving the EU Effects on pensioners from leaving the EU Summary 1.1 HM Treasury s short-term document presented two scenarios for the immediate impact of leaving the EU on the UK economy: the shock scenario and severe

More information

Chapter 4: Ageing pressures and spending

Chapter 4: Ageing pressures and spending Chapter : Ageing pressures and spending Overview Ageing of the Australian population will contribute to substantial pressure on government spending over the next years. Total spending is projected to increase

More information

Ageing, health spending and the long-term fiscal outlook: a UK perspective

Ageing, health spending and the long-term fiscal outlook: a UK perspective Ageing, health spending and the long-term fiscal outlook: a UK perspective 31 January 2014 Robert Chote Chairman Long-term fiscal analysis at the OBR Annual Fiscal sustainability Report Public sector balance

More information

State of Working Britain

State of Working Britain State of Working Britain Aim is to Gives an up to date assessment of the performance of UK labour market, to highlight recent important developments seeks to describe and understand the major long-term

More information

Hungary. 1. Economic situation

Hungary. 1. Economic situation 2. COUNTRY NOTES: HUNGARY 125 1. Economic situation has faced considerable challenges to regain fiscal credibility. After almost a decade of persistent, high fiscal deficits and the building up of external

More information

An Ageing Australia: Preparing for the Future

An Ageing Australia: Preparing for the Future An Ageing Australia: Preparing for the Future Mike Woods Deputy Chairman, Productivity Commission COTA National Policy Forum Productivity Commission million 90% confidence interval 95% confidence interval

More information

RBA ECONOMICS COMPETITION

RBA ECONOMICS COMPETITION RBA ECONOMICS COMPETITION 2007 The consequences of an ageing population for Australia's future productivity and economic growth, and the associated economic policy challenges Best Essay from a First Year

More information

Retirement Saving in Australia

Retirement Saving in Australia Garry Barrett UNSW Yi-Ping Tseng University of Melbourne November 2006 Overview Outline of Presentation 1 Introduction 2 Social Security in Australia 3 Voluntary private retirement saving 4 Mandated private

More information

Social Insurance Coverage in Urban China. John Giles Dewen Wang

Social Insurance Coverage in Urban China. John Giles Dewen Wang Social Insurance Coverage in Urban China John Giles Dewen Wang Overview Social insurance schemes in Urban China Trends in social insurance coverage Regional variation Micro evidence of social insurance

More information

Gambling revenue. 10.1 Gambling revenue and taxation

Gambling revenue. 10.1 Gambling revenue and taxation Gambling revenue TECHNICAL PAPER 1 The gambling industry is subject to the Australian Government s GST, as well as a wide range of State taxes, license fees and levies. This paper focuses on State Government

More information

Over the past 40 years, Australia has enjoyed strong economic performance, underpinned by a growing population and a series of major reforms.

Over the past 40 years, Australia has enjoyed strong economic performance, underpinned by a growing population and a series of major reforms. Executive Summary Over the past 40 years, Australia has enjoyed strong economic performance, underpinned by a growing population and a series of major reforms. This economic success has greatly enhanced

More information

SAMA Working Paper: POPULATION AGING IN SAUDI ARABIA. February 2015. Hussain I. Abusaaq. Economic Research Department. Saudi Arabian Monetary Agency

SAMA Working Paper: POPULATION AGING IN SAUDI ARABIA. February 2015. Hussain I. Abusaaq. Economic Research Department. Saudi Arabian Monetary Agency WP/15/2 SAMA Working Paper: POPULATION AGING IN SAUDI ARABIA February 2015 By Hussain I. Abusaaq Economic Research Department Saudi Arabian Monetary Agency Saudi Arabian Monetary Agency The views expressed

More information

The Training Needs of Older Workers

The Training Needs of Older Workers The Training Needs of Older Workers Katrina Ball, Josie Misko and Andrew Smith National Centre for Vocational Education Research ABSTRACT The nature of work has been the subject of significant change in

More information

G20 EMPLOYMENT WORKING GROUP COUNTRY SELF-REPORTING TEMPLATE ON IMPLEMENTATION OF G20 EMPLOYMENT PLANS

G20 EMPLOYMENT WORKING GROUP COUNTRY SELF-REPORTING TEMPLATE ON IMPLEMENTATION OF G20 EMPLOYMENT PLANS G20 EMPLOYMENT WORKING GROUP COUNTRY SELF-REPORTING TEMPLATE ON IMPLEMENTATION OF G20 EMPLOYMENT PLANS Contents 1. Key economic and labour market indicators 2. Key policy indicators 3. Checklist of commitments

More information

Electricity, gas, water and waste services

Electricity, gas, water and waste services Electricity, gas, water and waste services covers the electricity supply sector, the gas supply sector, water supply, sewerage and drainage services and waste collection, haulage, treatment and disposal

More information

OECD THEMATIC FOLLOW-UP REVIEW OF POLICIES TO IMPROVE LABOUR MARKET PROSPECTS FOR OLDER WORKERS. DENMARK (situation mid-2012)

OECD THEMATIC FOLLOW-UP REVIEW OF POLICIES TO IMPROVE LABOUR MARKET PROSPECTS FOR OLDER WORKERS. DENMARK (situation mid-2012) OECD THEMATIC FOLLOW-UP REVIEW OF POLICIES TO IMPROVE LABOUR MARKET PROSPECTS FOR OLDER WORKERS DENMARK (situation mid-2012) MACROBUTTON NUMBERING (SITUATION In 2011, the employment rate for the population

More information

Living Standard Trends in Australia: Report for Anglicare Australia. BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015

Living Standard Trends in Australia: Report for Anglicare Australia. BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015 Living Standard Trends in Australia: Report for Anglicare Australia BEN PHILLIPS NATSEM UNIVERSITY OF CANBERRA, September 2015 2 Contents 1 Executive Sumary 3 2 Introduction 5 3 Methodology 6 4 Results

More information

Employment and Unemployment

Employment and Unemployment Employment and Unemployment A2 Economics, Autumn 2010 Measuring Unemployment A Working Definition of Unemployment People able, available and willing to find work and actively seeking work but not employed

More information

PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIES AUSTRALIA

PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIES AUSTRALIA PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIES Online Country Profiles, including personal income tax and social security contributions AUSTRALIA Australia: pension system in 2008

More information

Retirement income in Australia

Retirement income in Australia Retirement income in Australia The development of adequacy over time Joint research by Towers Watson and The University of Melbourne Presented by John Burnett 7 July 2015 Background Purpose of research

More information

Germany and Japan under Demographic Change

Germany and Japan under Demographic Change Germany and Japan under Demographic Change Prof. Dr. Thusnelda Tivig University of Rostock, Department Ageing of Individuals and Society (AGIS), and Rostock Center for the Study of Demographic Change Content

More information

Household savings and retirement. Where has all my super gone? A report on superannuation and retirement for CPA Australia

Household savings and retirement. Where has all my super gone? A report on superannuation and retirement for CPA Australia Household savings and retirement Where has all my super gone? A report on superannuation and retirement for CPA Australia KELLYresearch October 2012 CPA Australia Ltd ( CPA Australia ) is one of the world

More information

The Future of Australia - An Accounting Analysis

The Future of Australia - An Accounting Analysis What is an intergenerational report? An intergenerational report assesses the long term sustainability of Commonwealth finances. It examines the impact of current policies and trends, including population

More information

A Long-term Forecast of Demographic Transition in Japan and Asia

A Long-term Forecast of Demographic Transition in Japan and Asia A Long-term Forecast of Demographic Transition in Japan and Asia Takao Komine Professor, Hosei University Why is the Population Problem Important for Asia Today? 1. The uncertainty of population forecasts

More information

Higher Education in Finland

Higher Education in Finland Higher Education in Finland Orientation Program for American Fulbright Grantees September 1, 2011 Senior Adviser Eeva Kaunismaa Expenditure on educational institutions as a percentage of GDP Primary and

More information

Long Run Growth and Redistribution in the Italian Social Security System

Long Run Growth and Redistribution in the Italian Social Security System Long Run Growth and Redistribution in the Italian Social Security System Carlo Mazzaferro University of Bologna (Italy) and CAPP Marcello Morciano University of East Anglia (UK), Institute for Social and

More information

The norwegian economy Lecture in Norwegian Life and Society

The norwegian economy Lecture in Norwegian Life and Society 1 The norwegian economy Lecture in Norwegian Life and Society Joakim Prestmo Economist reseacher Reseach department, Statistics Norway 1 Outline of today's lecture a. Where do we stand to day? b. How did

More information

Immigration and the Welfare State

Immigration and the Welfare State Immigration and the Welfare State Victoria Chorny Rob Euwals Kees Folmer A Scenario Approach Immigration policy Research questions & methods Impact of immigration policy & welfare state on immigrant selection

More information

Sustainable Safety Nets Australia s Experience

Sustainable Safety Nets Australia s Experience Sustainable Safety Nets Australia s Experience Multi-Pillar Systems of Social Safety Net Seoul 6 December 2006 Dehne Taylor Social Welfare Design Redistribute income through the taxation and social security

More information

The Family Tax Cut. Ottawa, Canada 17 March 2015 www.pbo-dpb.gc.ca

The Family Tax Cut. Ottawa, Canada 17 March 2015 www.pbo-dpb.gc.ca Ottawa, Canada 17 March 215 www.pbo-dpb.gc.ca The mandate of the Parliamentary Budget Officer (PBO) is to provide independent analysis to Parliament on the state of the nation s finances, the government

More information

Recent Trends in Superannuation Fund Assets

Recent Trends in Superannuation Fund Assets Recent Trends in Superannuation Fund Assets The assets of superannuation funds have increased rapidly in the 99s. Along with managed funds more generally, this growth has been considerably faster than

More information

The Lisbon Process and European Women at Work

The Lisbon Process and European Women at Work The Lisbon Process and European Women at Work Tito Boeri Università Bocconi and Fondazione Rodolfo Debenedetti, Milan. Prepared for the Conference Political Economy and Social Policy of Western Europe

More information

ANZ SUBMISSION TO THE AUSTRALIAN GOVERNMENT ON AUSTRALIA S DEMOGRAPHIC CHALLENGES AND A MORE FLEXIBLE AND ADAPTABLE RETIREMENT INCOME SYSTEM

ANZ SUBMISSION TO THE AUSTRALIAN GOVERNMENT ON AUSTRALIA S DEMOGRAPHIC CHALLENGES AND A MORE FLEXIBLE AND ADAPTABLE RETIREMENT INCOME SYSTEM ANZ SUBMISSION TO THE AUSTRALIAN GOVERNMENT ON AUSTRALIA S DEMOGRAPHIC CHALLENGES AND A MORE FLEXIBLE AND ADAPTABLE RETIREMENT INCOME SYSTEM ANZ SUBMISSION TO THE AUSTRALIAN GOVERNMENT ON AUSTRALIA S DEMOGRAPHIC

More information

Ireland and the EU 1973-2003 Economic and Social Change

Ireland and the EU 1973-2003 Economic and Social Change Ireland and the EU 1973-2003 Economic and Social Change Table 1 Population, 1971-2002 viii Table 2 Population of the provinces ix Table 3 Births, deaths and life expectancy ix Table 4 Numbers in education

More information

TDT Victoria Logistics Cadetship Program

TDT Victoria Logistics Cadetship Program TDT Victoria Logistics Cadetship Program A partnership between Industry, TDT Victoria and Kangan Institute With support from the Chartered Institute of Logistics & Transport Australia The Way Forward for

More information

2015 Intergenerational Report Australia in 2055. Circulated by The Honourable J. B. Hockey MP Treasurer of the Commonwealth of Australia

2015 Intergenerational Report Australia in 2055. Circulated by The Honourable J. B. Hockey MP Treasurer of the Commonwealth of Australia 215 Intergenerational Report Australia in 255 Circulated by The Honourable J. B. Hockey MP Treasurer of the Commonwealth of Australia March 215 Commonwealth of Australia 215 ISBN 978-1-92522-41-4 This

More information

COMMONWEALTH EXPENDITURE ASSOCIATED WITH RETIREMENT (SUBCLASS 410) VISA

COMMONWEALTH EXPENDITURE ASSOCIATED WITH RETIREMENT (SUBCLASS 410) VISA COMMONWEALTH EXPENDITURE ASSOCIATED WITH RETIREMENT (SUBCLASS 410) VISA Copyright Statement Commonwealth of Australia, 2011 This copyright work is licensed under a Creative Commons Attribution - No Derivatives

More information

Data analysis of informal employment in China and India. Xizhe Peng, Yaowu Wu, Jeemol Unni

Data analysis of informal employment in China and India. Xizhe Peng, Yaowu Wu, Jeemol Unni Data analysis of informal employment in China and India Xizhe Peng, Yaowu Wu, Jeemol Unni MOTIVATION Employment is primary channel through which growth translates into better living standards, reduced

More information

SICKNESS, DISABILITY AND WORK Improving opportunities in Norway, Poland and Switzerland

SICKNESS, DISABILITY AND WORK Improving opportunities in Norway, Poland and Switzerland Seminar, 7 June 6, Warszawa SICKNESS, DISABILITY AND WORK Improving opportunities in Norway, Poland and Switzerland P. Andersson, M. Förster, M. Pearson, Ch. Prinz OECD Directorate for Employment, Labour

More information

The Bayt.com Middle East and North Africa. Salary Survey 2016. May 2016

The Bayt.com Middle East and North Africa. Salary Survey 2016. May 2016 The Bayt.com Middle East and North Africa Salary Survey 2016 May 2016 Objective This research was conducted to gauge employee satisfaction levels with their salaries, but also pay raises and factors impacting

More information

An update on the level and distribution of retirement savings

An update on the level and distribution of retirement savings ASFA Research and Resource Centre An update on the level and distribution of retirement savings Ross Clare Director of Research March 2014 The Association of Superannuation Funds of Australia Limited (ASFA)

More information

The Elderly in Africa: Issues and Policy Options. K. Subbarao

The Elderly in Africa: Issues and Policy Options. K. Subbarao The Elderly in Africa: Issues and Policy Options K. Subbarao The scene prior to 1990s The elderly were part of the extended family and as such enjoyed care and protection. The informal old age support

More information

G20 LABOUR AND EMPLOYMENT MINISTERIAL DECLARATION MELBOURNE, 10-11 SEPTEMBER 2014

G20 LABOUR AND EMPLOYMENT MINISTERIAL DECLARATION MELBOURNE, 10-11 SEPTEMBER 2014 Introduction G20 LABOUR AND EMPLOYMENT MINISTERIAL DECLARATION MELBOURNE, 10-11 SEPTEMBER 2014 Preventing structural unemployment, creating better jobs and boosting participation 1. We, the Ministers of

More information

An Introduction to MIDAS_BE: the dynamic microsimulation model for Belgium

An Introduction to MIDAS_BE: the dynamic microsimulation model for Belgium An Introduction to MIDAS_BE: the dynamic microsimulation model for Belgium Workshop Using process produced data in pension microsimulation models, Central Administration of National Pension Insurance (CANPI)

More information

Victorian electricity sales and peak demand forecasts to 2024-25 SUMMARY REPORT

Victorian electricity sales and peak demand forecasts to 2024-25 SUMMARY REPORT Victorian electricity sales and peak demand forecasts to 2024-25 SUMMARY REPORT Prepared by the National Institute of Economic and Industry Research (NIEIR) ABN: 72 006 234 626 416 Queens Parade, Clifton

More information

THE IMPACT OF POSSIBLE MIGRATION SCENARIOS AFTER BREXIT ON THE STATE PENSION SYSTEM. Dr Angus Armstrong Dr Justin van de Ven

THE IMPACT OF POSSIBLE MIGRATION SCENARIOS AFTER BREXIT ON THE STATE PENSION SYSTEM. Dr Angus Armstrong Dr Justin van de Ven THE IMPACT OF POSSIBLE MIGRATION SCENARIOS AFTER BREXIT ON THE STATE PENSION SYSTEM Dr Angus Armstrong Dr Justin van de Ven Date: 2 June 2016 About the The is Britain's longest established independent

More information

Access to meaningful, rewarding and safe employment is available to all.

Access to meaningful, rewarding and safe employment is available to all. Home Previous Reports Links Downloads Contacts The Social Report 2002 te purongo oranga tangata 2002 Introduction Health Knowledge and Skills Safety and Security Paid Work Human Rights Culture and Identity

More information

The future of retirement income

The future of retirement income The future of retirement income March 2015 The Association of Superannuation Funds of Australia (ASFA) Partnered with State Street Global Advisors (SSgA) The Association of Superannuation Funds of Australia

More information

ILO-RAS/NET/Vanuatu/R.2. Vanuatu. Report on the implementation of the Health Insurance Scheme in Vanuatu

ILO-RAS/NET/Vanuatu/R.2. Vanuatu. Report on the implementation of the Health Insurance Scheme in Vanuatu ILO-RAS/NET/Vanuatu/R.2 Vanuatu Report on the implementation of the Health Insurance Scheme in Vanuatu International Labour Office, 2006 Contents 1. Introduction 3 2. Background: Health expenditure in

More information

THE DEMOGRAPHY OF POPULATION AGEING

THE DEMOGRAPHY OF POPULATION AGEING THE DEMOGRAPHY OF POPULATION AGEING Barry Mirkin and Mary Beth Weinberger* An inevitable consequence of the demographic transition and the shift to lower fertility and mortality has been the evolution

More information

The long term policy view: Shifting Wealth, Income Inequalities and Demography - The Ageing Report

The long term policy view: Shifting Wealth, Income Inequalities and Demography - The Ageing Report The long term policy view: Shifting Wealth, Income Inequalities and Demography - The Ageing Report Per Eckefeldt European Commission Directorate General for Economic and Financial Affairs XXV Villa Mondragone

More information

Pension Plans in Slovenia - A Guide

Pension Plans in Slovenia - A Guide Health and Pension Reforms in Central Europe System of private pension provision Case of Slovenia Vienna, 25. April 2008 Meta Berk Skok Table of Contents 1 Summary... 2 2 Role within the social system...

More information

15 The implications of ageing for education policy

15 The implications of ageing for education policy 15 The implications of ageing for education policy Penny Taylor, Patrick Laplagne and Craig de Laine 1 15.1 Introduction The ageing of the Australian population over the next 50 years suggests that public

More information

dream long-term Economic Projection for 2011 Pdf version

dream long-term Economic Projection for 2011 Pdf version dream long-term Economic Projection for 2011 Pdf version Dream s Long-term Economic Projection for 2011 Dream, 2011 DREAM Amaliegade 44 DK-1256 Copenhagen K Denmark Telefon: +45 3344 5899 E-mail: info@dreammodel.dk

More information

Australia to 2050: future challenges OVERVIEW. the 2010 intergenerational report

Australia to 2050: future challenges OVERVIEW. the 2010 intergenerational report Australia to 5: future challenges the intergenerational report OVERVIEW Contents Intergenerational challenges Planning for the future Long-term economic outlook 3 Australia s ageing population Long-term

More information

Primary School Net and Gross Attendance Rates, India. Primary School Net Attendance Rate in Urban and Rural Areas, India

Primary School Net and Gross Attendance Rates, India. Primary School Net Attendance Rate in Urban and Rural Areas, India Primary School Net and Gross Attendance Rates, India About one-fourth of school age children in India do not attend primary school on time although of children attend primary school at some time in. of

More information

Melbourne Institute Policy Briefs Series Policy Brief No. 3/13

Melbourne Institute Policy Briefs Series Policy Brief No. 3/13 Melbourne Institute Policy Briefs Series Policy Brief No. 3/13 Does Reducing Rebates for Private Health Insurance Generate Cost Savings? Terence C. Cheng THE MELBOURNE INSTITUTE IS COMMITTED TO INFORMING

More information

Re-thinking Health Policy: From Austria to Europe and back. European Health Policy and Austria Achievements and intentions

Re-thinking Health Policy: From Austria to Europe and back. European Health Policy and Austria Achievements and intentions Re-thinking Health Policy: From Austria to Europe and back European Health Policy and Austria Achievements and intentions Dr. Natasha Azzopardi-Muscat Vienna 9 April 2015 Lecturer Health Services Management

More information

Income tax personal allowance for those born after 5 April 1938 for 2015-16

Income tax personal allowance for those born after 5 April 1938 for 2015-16 Income tax personal allowance for those born after 5 April 1938 for 2015-16 Who is likely to be affected? Income tax payers, employers and pension providers. General description of the measure For 2015-16,

More information

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com.

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com. Contact us Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au www.kpmg.com.au No reliance This report should not be regarded as suitable

More information

2. THE ECONOMIC BENEFITS OF EDUCATION

2. THE ECONOMIC BENEFITS OF EDUCATION 2. THE ECONOMIC BENEFITS OF EDUCATION How much more do tertiary graduates earn? How does education affect employment rates? What are the incentives for people to invest in education? What are the incentives

More information

AUSTRIA: Pension Projections 2004-2050

AUSTRIA: Pension Projections 2004-2050 AUSTRIA: Pension Projections 2004-2050 1. Pension System: Overview 1.1 General Structure of the System The Act on the Harmonisation of Austrian Pension Systems came into effect on 1 January 2005. The main

More information

United Kingdom. Country coverage and the methodology of the Statistical Annex of the 2015 HDR

United Kingdom. Country coverage and the methodology of the Statistical Annex of the 2015 HDR Human Development Report 2015 Work for human development Briefing note for countries on the 2015 Human Development Report United Kingdom Introduction The 2015 Human Development Report (HDR) Work for Human

More information

Greece. 1. Economic situation

Greece. 1. Economic situation 2. COUNTRY NOTES: GREECE 119 1. Economic situation The Greek economy is in a recession in the wake of the economic and sovereign debt crisis, exacerbated by the impact that austerity measures are having

More information

Contents. Introduction 1 Key Findings 1. 1. Canada s Changing Retirement Landscape 2. 2. Retirement Expectations and Aspirations 4

Contents. Introduction 1 Key Findings 1. 1. Canada s Changing Retirement Landscape 2. 2. Retirement Expectations and Aspirations 4 Contents Introduction 1 Key Findings 1 1. Canada s Changing Retirement Landscape 2 2. Retirement Expectations and Aspirations 4 3. Retirement Saving and Planning 7 4. The Retirement Savings Habit 9 Recommendations

More information

Business Priorities for the 2015-16 Federal Budget* May 2015. Federal Budget priorities for Australian business

Business Priorities for the 2015-16 Federal Budget* May 2015. Federal Budget priorities for Australian business Business priorities for the 2015-16 Federal Budget May 2015 Federal Budget priorities for Australian business A survey of Australian Industry Group members reveal the top three priorities for Australian

More information

World Population Growth

World Population Growth 3 World Population Growth Why is world population growing faster than ever before? Population dynamics are one of the key factors to consider when thinking about development. In the past years the world

More information

FEMALE LABOUR FORCE PARTICIPATION: PAST TRENDS AND MAIN DETERMINANTS IN OECD COUNTRIES 1. Introduction and summary

FEMALE LABOUR FORCE PARTICIPATION: PAST TRENDS AND MAIN DETERMINANTS IN OECD COUNTRIES 1. Introduction and summary FEMALE LABOUR FORCE PARTICIPATION: PAST TRENDS AND MAIN DETERMINANTS IN OECD COUNTRIES 1 Introduction and summary The female participation rate is depressed by policy and market failure Female labour-force

More information

Dragan Savic. 12 August 2013

Dragan Savic. 12 August 2013 FSC Deloitte Future Leaders Award 2013 Australia s ageing population What existing policy settings could be changed, or new polices implemented, to better insulate Australia from the future economic impacts

More information

Norway. HDI values and rank changes in the 2013 Human Development Report

Norway. HDI values and rank changes in the 2013 Human Development Report Human Development Report 2013 The Rise of the South: Human Progress in a Diverse World Explanatory note on 2013 HDR composite indices Norway HDI values and rank changes in the 2013 Human Development Report

More information

Equality Impact Assessment Support for Mortgage Interest

Equality Impact Assessment Support for Mortgage Interest Welfare and Wellbeing Group Equality Impact Assessment Support for Mortgage Interest Clarification to the treatment of Excess Payments of Support for Mortgage Interest April 2010 Equality Impact Assessment

More information

United Kingdom. HDI values and rank changes in the 2013 Human Development Report

United Kingdom. HDI values and rank changes in the 2013 Human Development Report Human Development Report 2013 The Rise of the South: Human Progress in a Diverse World Explanatory note on 2013 HDR composite indices United Kingdom HDI values and rank changes in the 2013 Human Development

More information

Conference on Population and Development, Cairo, 5-13 September 1994 (United Nations publication, Sales No. E.95.XIII.7).

Conference on Population and Development, Cairo, 5-13 September 1994 (United Nations publication, Sales No. E.95.XIII.7). EXECUTIVE SUMMARY The General Assembly, in its resolution 54/262 of 25 May 2, decided to convene the Second World Assembly on Ageing in 22, coinciding with the twentieth anniversary of the first World

More information

R. LITVINOV, PhD student in Law, Kharkiv National University of Internal Affairs,

R. LITVINOV, PhD student in Law, Kharkiv National University of Internal Affairs, R. LITVINOV, PhD student in Law, Kharkiv National University of Internal Affairs, SOCIAL SECURITY SYSTEM IN THE USA: GOOD OR BAD EXPERIENCE FOR UKRAINE? Analyzing the process of implementation of the pension

More information

Hungary A continuous shrinking of the unemployment benefit system

Hungary A continuous shrinking of the unemployment benefit system Hungary A continuous shrinking of the unemployment benefit system Béla Galgóczi * Introduction Unemployment was an unknown phenomenon under state socialism; being without an official job was even seen

More information

Small Business, equity and flexibility data

Small Business, equity and flexibility data Small Business, equity and flexibility data Gender wage gap in small business The weekly Gender Wage Gap (women s average earnings as a % of men s average earnings) for full-time non-managerial employees

More information

2.2 How much does Australia spend on health care?

2.2 How much does Australia spend on health care? 2.2 How much does Australia spend on health care? Health expenditure occurs where money is spent on health goods and services. Health expenditure data includes health expenditure by governments as well

More information

Summary. Developing with Jobs

Summary. Developing with Jobs Do not publish or DiStribute before 00:01 Gmt on tuesday 27 may 2014 Summary Developing with Jobs World of Work Report 2014 Developing with jobs Executive Summary INTERNATIONAL LABOUR ORGANIZATION RESEARCH

More information

OECD Reviews of Labour Market and Social Policies LATVIA

OECD Reviews of Labour Market and Social Policies LATVIA OECD Reviews of Labour Market and Social Policies LATVIA Ministry of Welfare, Riga, 31 March 2015 Monika Queisser and Paolo Falco Directorate for Employment, Labour and Social Affairs Context for employment

More information

Budget priorities: cut company tax, invest in infrastructure and balance budget within five years.

Budget priorities: cut company tax, invest in infrastructure and balance budget within five years. Ai Group Survey Business Priorities for the 2014-15 Federal Budget Budget priorities: cut company tax, invest in infrastructure and balance budget within five years. 4 May 2014 The top three priorities

More information

The norwegian economy A short story about equality, trust and natural resources

The norwegian economy A short story about equality, trust and natural resources 1 The norwegian economy A short story about equality, trust and natural resources Joakim Prestmo Economist reseacher Reseach department, Statistics Norway 7. March 2011 1 Outline Where do we stand to day?

More information

Graduate Entrepreneurial Intention in Turkey: Motivators and Obstacles. Nurdan Özarallı Marmara University, Istanbul, Turkey

Graduate Entrepreneurial Intention in Turkey: Motivators and Obstacles. Nurdan Özarallı Marmara University, Istanbul, Turkey Graduate Entrepreneurial Intention in Turkey: Motivators and Obstacles Nurdan Özarallı Marmara University, Istanbul, Turkey ENTREPRENEURSHIP Entrepreneurship has long been recognized as one of the tools

More information

Equality Impact Assessment Support for Mortgage Interest

Equality Impact Assessment Support for Mortgage Interest Welfare and Wellbeing Group Equality Impact Assessment Support for Mortgage Interest Planned change to the standard interest rate at which Support for Mortgage Interest is paid August 2010 Equality Impact

More information

Living longer: products, problems and possibilities

Living longer: products, problems and possibilities Living longer: products, problems and possibilities John Piggott and Renuka Sane Australian Institute for Population Aging Research University of New South Wales Sydney, Australia j.piggott@unsw.edu.au

More information

ANTICIPATING POPULATION AGEING CHALLENGES AND RESPONSES. Peter Whiteford Social Policy Division, OECD www.oecd.org www.oecd.

ANTICIPATING POPULATION AGEING CHALLENGES AND RESPONSES. Peter Whiteford Social Policy Division, OECD www.oecd.org www.oecd. ANTICIPATING POPULATION AGEING CHALLENGES AND RESPONSES Peter Whiteford Social Policy Division, OECD www.oecd.org www.oecd.org/els Outline z z z What is the OECD and what does it do? Anticipating the challenges

More information

Women and Superannuation in the 21st Century: Poverty or Plenty? Simon Kelly, Richard Percival and Ann Harding

Women and Superannuation in the 21st Century: Poverty or Plenty? Simon Kelly, Richard Percival and Ann Harding National Centre for Social and Economic Modelling University of Canberra Women and Superannuation in the 21st Century: Poverty or Plenty? Simon Kelly, Richard Percival and Ann Harding Paper for the SPRC

More information

THE IMPACT OF POPULATION DECLINE AND POPULATION AGING IN JAPAN FROM THE PERSPECTIVES OF SOCIAL AND LABOR POLICY *

THE IMPACT OF POPULATION DECLINE AND POPULATION AGING IN JAPAN FROM THE PERSPECTIVES OF SOCIAL AND LABOR POLICY * UN/POP/PRA/2000/10 5 September 2000 ENGLISH ONLY EXPERT GROUP MEETING ON POLICY RESPONSES TO POPULATION AGEING AND POPULATION DECLINE Population Division Department of Economic and Social Affairs United

More information

PROJECTION OF THE FISCAL BALANCE AND PUBLIC DEBT (2012 2027) - SUMMARY

PROJECTION OF THE FISCAL BALANCE AND PUBLIC DEBT (2012 2027) - SUMMARY PROJECTION OF THE FISCAL BALANCE AND PUBLIC DEBT (2012 2027) - SUMMARY PUBLIC FINANCE REVIEW February 2013 SUMMARY Key messages The purpose of our analysis is to highlight the risks that fiscal policy

More information

NFAW Submission on Economic Security for Women in Retirement October 2015

NFAW Submission on Economic Security for Women in Retirement October 2015 Submission to the Senate Economics Committee Inquiry into Economic Security for Women in Retirement www.nfaw.org.au Prepared by Associate Professor Helen Hodgson, Curtin Law School By authority of the

More information

Svein Gjedrem: The economic situation in Norway

Svein Gjedrem: The economic situation in Norway Svein Gjedrem: The economic situation in Norway Address by Mr Svein Gjedrem, Governor of Norges Bank (Central Bank of Norway), to invited foreign embassy representatives, Norges Bank, 21 March 2002. Please

More information

Live Long and Prosper? Demographic Change and Europe s Pensions Crisis

Live Long and Prosper? Demographic Change and Europe s Pensions Crisis 10 November 2015, Brussels Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Key Note Speech Dr. Jochen Pimpertz Head of Research Unit Public Finance, Social Security, Income and Wealth

More information

Retirement for All Australians

Retirement for All Australians Retirement for All Australians Dr Kate O Loughlin Ageing, Work & Health Research Unit ARC Centre of Excellence in Population Ageing Research (CEPAR) FACULTY OF HEALTH SCIENCES Centre for Disability Research

More information

Volunteering and the National Disability Insurance Scheme A Survey of Victorian Disability Organisations

Volunteering and the National Disability Insurance Scheme A Survey of Victorian Disability Organisations Volunteering and the National Disability Insurance Scheme A Survey of Victorian Disability Organisations 1. Introduction Volunteers create community. Having volunteers support people with a disability

More information

Women Carers in Financial Stress Report

Women Carers in Financial Stress Report Commonwealth Financial Planning Women Carers in Financial Stress Report Lifetime health and economic consequences of caring: modelling health and economic prospects of female carers in Australia prepared

More information

Ageing OECD Societies

Ageing OECD Societies ISBN 978-92-64-04661-0 Trends Shaping Education OECD 2008 Chapter 1 Ageing OECD Societies FEWER CHILDREN LIVING LONGER CHANGING AGE STRUCTURES The notion of ageing societies covers a major set of trends

More information

Australia to 2050: future challenges. Circulated by The Hon. Wayne Swan MP Treasurer of the Commonwealth of Australia

Australia to 2050: future challenges. Circulated by The Hon. Wayne Swan MP Treasurer of the Commonwealth of Australia Australia to 25: future challenges Circulated by The Hon. Wayne Swan MP Treasurer of the Commonwealth of Australia January 21 Commonwealth of Australia 21 ISBN 978--642-74576-7 This work is copyright.

More information

The Institute of Public Accountants. Review of retirement income stream regulation

The Institute of Public Accountants. Review of retirement income stream regulation The Institute of Public Accountants Review of retirement income stream regulation 5 September 2014 Introduction Benefits and Regulation Unit - Personal and Retirement Income Division The Treasury Langton

More information

EMPLOYABILITY TRENDS

EMPLOYABILITY TRENDS Fabrizio Carmignani Associate Professor, BCom Programme Director (Nathan) Economics, Griffith Business School EMPLOYABILITY TRENDS Plan of campaign Some background on employment projections Australia medium

More information