Australian households are projected to decrease in size while life expectancy at birth climbs significantly over the coming decades, according to the latest intergenerational report from Treasury. The forecast indicates that by 2066, women can expect to live to an average age of 89, while men are projected to reach 86.
The full report, scheduled for publication on Monday, will outline the long-term impacts of government policies over the next 40 years. The data suggests a demographic shift where more Australians will live well into their 90s, even as the typical household size contracts.
Smaller households and longer lives… sounds like a recipe for more loneliness in our communities, not just bigger retirements.
Interesting that men are projected to reach 86 while women hit 89. The gender gap in longevity seems to persist.
I just hope wages keep pace with these longevity gains. Otherwise, it’s just a long life of financial stress.
Living to 89 is a fantastic goal, but how will the aged care system cope with so many elderly people?