Work lures for seniors
The first programs to keep seniors in the workforce look likely to coincide with the release of the latest intergenerational report in February 2010.
It is believed up to $50 million could be set aside to help keep seniors working, with the money possibly going into employment pilot programs.
The Government is also believed to be considering giving employers financial incentives to take on older workers.
Sources said some of the funds might go into research to understand the full extent of the ageing phenomenon.
The long-awaited report is tipped to indicate that the nation has, over the past decade, begun facing down the financial threats of an ageing population.
In 2002, the first intergenerational report revealed Australia faced a grim future because of the cost of caring for the aged, combined with a loss of productivity.
The increase in the tax burden alone was predicted to approach $90 billion by 2042.
But Treasurer Wayne Swan, who is expected to deliver the latest intergenerational report on Monday, has taken heart from a slight increase in the birth rate (from 1.6 babies a woman to 1.7).
Older workers were also showing an inclination to remain at work longer, while migration will also soak up the gradual decline in the workforce. Bob Mousley, at 61 and with three decades of retail experience behind him, said the goalposts had shifted in the past few decades.
Mr Mousley had recently embarked on a new career as a small businessman, buying into a Hire a Hubby franchise.
With daughters still in high school, a mortgage to pay and home renovations keeping him busy, he sees himself as still in his prime rather than four years off official retirement.
“I’m fit, I like to work and I don’t see myself settling into a comfy chair anytime soon.”
Lobby group National Seniors has welcomed suggestions from Treasury secretary Ken Henry about possible tax breaks for older workers.
But National Seniors said employers needed to be given more incentives to retain and hire older workers.
