Keynote Address By Ms Anne Hollonds Director, Australian Institute of Family Studies
Discovering what works for families Challenges and Opportunities of Family Policy in an Ageing Society Asian Families Conference 29 November 2017
Acknowledgements Acknowledgements to Dr Diana Warren and Dr Pilar Rioseco Lopez from AIFS for their assistance, including new analysis of data for this presentation. The views expressed in this paper are those of the author and may not reflect the views of the Australian Institute of Family Studies or the Australian Government. Discovering what works for families Australian Institute of Family Studies
World Health Organisation 2002 “The time to act is now” Discovering what works for families Australian Institute of Family Studies
Demographic overview Age composition of population, 2000 Age composition of population, 2050 100% 100% 5 4 6 6 7 7 7 8 8 11 12 13 16 90% 90% 20 21 22 22 24 24 27 28 35 80% 80% 70% 70% 52 52 57 63 59 60 59 62 60% 60% 65 64 68 63 63 50% 50% 60 59 58 59 57 57 56 54 40% 40% 51 30% 30% 44 43 20% 20% 38 34 33 33 32 31 27 24 23 22 10% 21 10% 20 20 20 20 20 19 17 18 14 0% 0% 0-14 15-59 60+ 0-14 15-59 60+ Discovering what works for families Australian Institute of Family Studies
The ageing population: a challenge or opportunity? • Proportion of Australians aged 65 and over: currently 13% and expected 25% by 2056 • Population is ageing faster in Asia • Everywhere the number of “working age” people is shrinking in comparison • “How will we pay for all these elderly people”? Discovering what works for families Australian Institute of Family Studies
Perspectives on Family Policy and Ageing Discovering what works for families Australian Institute of Family Studies
The Australian Retirement Income System Discovering what works for families Australian Institute of Family Studies
The Australian Retirement Income System Policy reform aims to: • Increase mature age labour force participation • Provide higher levels of savings and a better standard of living in retirement • Reduce reliance on the Age Pension as the main source of retirement income Discovering what works for families Australian Institute of Family Studies
Gender gap in retirement savings Three main causes of the gender gap in superannuation savings: The gender – wage gap: On average, men earn more than women. 1. In 2015, the full-time gender pay gap was 18%. Time out of paid employment: Women are more likely to take 2. time out of paid employment to care for children or other family members. Differences in working hours: Women are also more likely to 3. work part-time because of caring responsibilities. These factors combine to increase the gender difference in superannuation savings over time, due to the compounding effect of accumulating returns on superannuation. Discovering what works for families Australian Institute of Family Studies
The superannuation gender gap 800000 $751K Man: Continuous full- time employment Expected Superannuation Balance ($) 700000 $611K Woman: Continuous 600000 $584K full-time employment $425K 500000 $487K Woman: 5 year career break, then full-time 400000 $384K Woman: 1 year career $326K 300000 break, then part-time 200000 Woman: 5 year career break, then part-time 100000 Woman: 1 year career break, then full-time 0 30 35 40 45 50 55 60 65 Age Discovering what works for families Australian Institute of Family Studies
Trends in mature age labour force participation Mature age labour force participation currently highest on record: more women participating and fewer men leaving the workforce Discovering what works for families Australian Institute of Family Studies
Reasons why • Those approaching retirement are healthier and better educated • Higher expectations about living standards • Superannuation as incentive to delay retirement • Increased demand for older workers • Fewer children/more access to childcare and maternity leave: women staying in workforce • Pressure from inadequate retirement savings (after the Global Financial Crisis) Discovering what works for families Australian Institute of Family Studies
How to maintain good health at older ages? 1. Physical activity 2. Social engagement Discovering what works for families Australian Institute of Family Studies
Physical activity and health • Adults who are physically active have lower rates of all-cause mortality, coronary heart disease, high blood pressure, stroke, type 2 diabetes, metabolic syndrome, colon and breast cancer, and depression • Physical inactivity makes the second largest contribution to the cancer burden in Australia (behind tobacco smoking) • The total annual economic cost of physical inactivity in Australia has been estimated at $13.8 billion However: • Only one-third of children, and 1 in 10 young people meet the physical activity recommendation for their age group • 60% of adults did less than the recommended 30 minutes of moderate intensity physical activity per day. (Aust Health Survey 2012) Discovering what works for families Australian Institute of Family Studies
Adults who engage in regular physical activity are more likely to be in good health Self-assessed health by level of physical activity adults aged 50-54 100% 6% 8% Excellent 16% 90% 17% 80% 36% Very good 70% 42% 60% 33% Good 50% 40% 35% 30% 27% Fair 31% 20% 19% 10% Poor 17% 9% 3% 2% 0% Not at all 1-2 times a week or less 3 times a week or more Source: Self-completed questionnaire HILDA Wave 1, adults aged 50-54, weighted. Discovering what works for families Australian Institute of Family Studies
Adults physically active at younger ages more likely to be physically active later in life Physical activity at age 45-49 by level of Physical activity at age 65-69 by level of physical activity at age 30-34 physical activity at age 50-54 100% 100% 15 years later "3 times a 18% 90% 90% 26% week or more" 36% 80% 39% 80% 57% 70% 70% 62% 33% 60% 60% 15 years later "1-2 times a 38% 50% 50% week or less" 40% 40% 48% 50% 30% 30% 37% 48% 30% 15 years later "Not at all" 20% 20% 36% 10% 10% 17% 11% 8% 6% 0% 0% Not at all 1-2 times a week or 3 times a week or Not at all 1-2 times a week or 3 times a week or less more less more Physical activity at age 30-34 Physical activity at age 50-54 Source: Self-completed questionnaire HILDA Waves 1 and 15, weighted. Discovering what works for families Australian Institute of Family Studies
Social engagement and health • Strong social networks are associated with survival in older Australians • The effect of social relationships on survival is stronger than the negative effects of drinking alcohol excessively and the lack of physical activity • Older adults are at higher risk of social isolation than other groups. Around 20% of older Australians are socially isolated Discovering what works for families Australian Institute of Family Studies
Females engage in social activities more regularly than males Frequency of social activities with family and friends who do not live with you, by age Males Females 100% 100% 6% 7% 6% 8% 9% 10% 10% Once/twice 12% 12% 17% 18% 18% 90% 90% every 3 20% 25% 80% 80% 27% months or 28% 27% 34% 30% less 33% 70% 70% 37% 33% 36% 36% 60% 60% 1 to 3 times a month 50% 50% 40% 40% 74% 68% 66% 64% 63% 30% 30% 60% 58% 55% 51% 49% Once a week 47% 47% 20% 20% or more 10% 10% 0% 0% 50-54 55-59 60-64 65-69 70-74 75+ 50-54 55-59 60-64 65-69 70-74 75+ Source: Self-completed questionnaire HILDA Wave 1, adults aged 50 or over, weighted. Discovering what works for families Australian Institute of Family Studies
Adults who have been socially active in the past, are more likely to continue regular social activities later in life Social activities at age 45-49 by level Social activities at age 65-69 by level of social activity at age 30-34 of social activity at age 50-54 100% 100% 6% 15 years later 8% 11% 90% 90% 22% "Once/twice every 3 27% 35% 25% 80% 80% months or less" 70% 70% 38% 45% 60% 15 years later "2-3 times 60% 45% 38% a month or less" 50% 50% 48% 40% 40% 69% 30% 30% 51% 15 years later "Once a 47% 20% 20% 36% 32% week or more" 10% 10% 17% 0% 0% Once a week or 2-3 times a month Once/twice every 3 Once a week or 2-3 times a month Once/twice every 3 more or less months or less more or less months or less Social acvities at age 30-34 Social acvities at age 50-54 Source: Self-completed questionnaire HILDA Waves 1 and 15, weighted. Discovering what works for families Australian Institute of Family Studies
Adults who engage in regular social activities with family and friends are more likely to be in good health Self-assessed health by frequency of social activities adults aged 65-69 100% 3% 7% 8% Excellent 90% 21% 80% 23% 31% Very good 70% 60% 34% Good 50% 42% 36% 40% 30% Fair 30% 20% 19% 24% 10% Poor 12% 6% 4% 0% Once a week or more 1 to 3 times a month Once/twice every 3 months or less Source: Self-completed questionnaire HILDA Wave 1, adults aged 65-69, weighted. Discovering what works for families Australian Institute of Family Studies
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