Adventure Ausrama Blog

Developed country are heading toward a crisis of not enough people to do the work. Baby boomers have reached retirement age and with such a large section of society no longer contributing there will be fewer taxpayers to fund economies. Government revenues will fall. Workers can only pay so much tax. Beyond a certain level incentive to work decreases. Despite the problem, employers still persist in seeking young employees when there are plenty of elderly people who can hold down jobs. Old legislation covering those in public service force retirement on perfectly capable workers. Some Australian states are planning to change this. The private sector has no restrictions. Many doctors, for example, work into their 80s. This is because they are self-employed, so they can decided when to stop. Fewer retirees are offering their service free in voluntary work. This means their lives just slow down and they spend their time doing very little. Their lives would be more interesting

Despite discrimination by some employers, older Australians are determined to keep on working past the retirement age. They believe that they haven't got enough saved to retire on. A large survey discovered that 2.6 million Australians over 45 are working full-time and 653,000 said they would never give up work. Another 399,300 said they could see no time when they would be able to retire. A significant 1.6 million were in part-time employment. Even though superannuation has been compulsory in Australia since 1986 a quarter of the 3.9 million in the study said they would rely fully on the state for a pension. Only half would have sufficient superannuation to live on. Compulsory superannuation will reduce the present number of 66 per cent of elderly people on the aged pension. But people being what they are, many superannuants intend to go on world tours or travel around Australia to quickly get rid of their capital so they become eligible for the old age pension. http://www.ad