The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

2 November 2011

NO.132

Joint Media Release with
The Hon Mark Butler MP
Minister for Mental Health and Ageing

Second Report on Economic Potential of Senior Australians

The Gillard Government today welcomes the second report from the Advisory Panel on the Economic Potential of Senior Australians (the Panel) that looks at how we can make the most of the opportunities presented by a larger and more active community of older Australians.

The Panel, chaired by Everald Compton and also including Professor Gill Lewin and Professor Brian Howe, has identified a number of themes from its public consultations including increasing workforce participation, access to suitable housing, lifelong learning and healthy ageing.

Our nation needs to do more to tap the wealth of life experience, knowledge and skills of older Australians.

Most Australians moving into their senior years now are better educated, healthier and more financially secure than previous generations.

As a result, older Australians are contributing to society, the workplace and their own wellbeing to an extent not previously experienced.

To make the most of this demographic shift, the Panel has identified four key areas where Australia needs to take a fresh approach: healthy living, housing, participation and lifelong learning.  

The growing cohort of senior Australians has the potential to help tackle skills shortages in our economy, add to the quality of the volunteering effort and create a strong market for new customised products and services.

The Panel has completed consultations in Adelaide, Alice Springs, Armidale, Brisbane, Hobart, Melbourne, Perth and Sydney and will soon be holding consultations in Canberra.

We thank the Panel for its work to date and look forward to receiving the final report later this year.

The second report, Realising the Economic Potential of Senior Australians: Enabling Opportunity can be found on the Treasury website.  

CANBERRA
2 November 2011