Policy implications of Australian ageing: The greying of a young society

Australian population ageing is moderate by Western country standards but t here are major issues emerging in national policy debates. The proportions 65+ will double and the proportions 85+ will more than quadruple by 2050. T he first concern is the long-term trend to earlier retirement from work alo ng with a nearly universal dependency on publicly funded age pensions rathe r than on private savings and superannuation. New mandatory superannuation guarantee scheme will ease some of the financial pressure from income depen dency. Secondly heart, musculoskeletal, cancers, mental illness and digesti ve diseases are high cost conditions but musculoskeletal and mental conditi ons are a higher cost for women than fbr men. About two thirds of health ex penditures are spent on the tenth of the population 65+ which indicates an issue of control of health. costs through appropriate servicing. Third seve re handicap rates reported in national surveys have stabilised over time to cover the last 3 or 4 years of life. Over two thirds of the remaining year s of life at age 65 are currently spent free of handicap. Aged care service s have shifted in focus fi om intensive options like nursing homes to less intensive options like hostel care and home and community care. There is ab out a two thirds risk of ever entering a nursing home or hostel at age 65. Consequently long-term care financing is one of the most urgent issues in A ustralian aged care policy.