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‘Achievement’ of ageing workforce requires support

By Grace Ormsby · November 21 2019
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egg

Earn

‘Achievement’ of ageing workforce requires support

By Grace Ormsby
November 21 2019
Reading:
egg
Elderly hands typing on a keyboard

‘Achievement’ of ageing workforce requires support

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By Grace Ormsby · November 21 2019
Reading:
egg
Elderly hands typing on a keyboard

Government calls for a comprehensive policy aimed at supporting older Australians who do choose to work into their 60s and 70s have been welcomed by an advocacy group.

COTA, a consumer body for older Australians, has said the Australian economy will need more mature workers as the overall ration between workforce to non-workforce population shrinks.

The alignment and message of support comes after Treasurer Josh Frydenberg’s comments earlier this week, where he indicated that older Australians should stay in the workforce longer to keep the nation afloat. 

Weighing in on the group’s desire for a long-term approach to planning for an older and still-working population, COTA chief executive Ian Yates said the fact that Australians are living longer is a major positive achievement.

The implementation of policy “isn’t about forcing people to work longer than they want to or are physically able to, it’s about supporting Australians to work longer who choose to do so, and creating and capitalising on opportunities for them to do so”, he commented.

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“A significant proportion of people aged between 65 and 75 are still working and more would do so if age discrimination and lack of support weren’t such barriers to remaining in the workforce, often from the 50s onwards.”

Noting that people work longer for many reasons, Mr Yates considered that all employers would benefit from an age diverse workforce, “which has been shown to be both more resilient and more productive”.

At the same time, he emphasised the need for a “major culture shift” to stamp out ageism and discrimination directed against older Australian workers.

“At least 30 per cent of employers admitted to the Australian Human Rights Commission last year that they would not recruit workers over 50, which is morally reprehensible and entirely illegal,” Mr Yates said.

The chief executive commented that “Australia needs stronger laws and government leadership in line with measures on gender discrimination and racism”.

Calling the Treasurer’s comments “a wake-up call”, Mr Yates said it’s a stance that “needs to be followed up with a comprehensive policy approach so that Australia optimises and builds on the many benefits of an older population and proactively and productively manage the risk and challenges”.

‘Achievement’ of ageing workforce requires support
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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

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