24 Aug 2023
2023 Intergenerational Report: Old-age dependency ratio
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The 2023 Intergenerational Report forecasts an outlook for the Australian economy and the Federal Government’s budget over the next 40 years.
The forecast is for the population to reach 40.5 million by 2062-63 with the number of people aged over 65 doubling and the number aged over 85 tripling.
The old-age dependency ratio which is the ratio of working-age people to those over 65 will increase plus cost NDIS is expected to keep the Federal Government budget in deficit for the next 40 years.
Click to read.
What will be the Federal Government solution? Increase tax revenue.
This is why planning is so important.
If you have family, friends or colleagues that want financial advice please ask them to contact us and we will work out how best to help.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.
