Ageing workers to solve Iemma’s dilemma 9:57am 18.04.08

NSW Premier Morris Iemma will present a plan to increase the retirement age to stave off the consequences of an ageing, dependent population. Without the plan, the government estimates retirees will cost the state $14 billion per year by 2030.

The Towards 2030 report says residents aged over 65 will double in 20 years and suggests that the 300,000 workers currently close to retirement age should remain in the workforce.
 
NSW Ageing Minister Kristina Keneally suggests employers will need to support the move by accommodating older workers, by providing more parental and grandparental leave to attract more people to the workforce.
 
"The challenge of an ageing population is one that we all share,” she said. "Closing the fiscal gap will take a sustained effort from Government to keep spending in check but it also requires we work in partnership with the Commonwealth, with State Government and with the private sector."
 
Iemma will present the plan at this weekend's 2020 summit.