Recalculating Australia's ageing population
Should we "retire" the 'old-aged dependency ratio'?
Traditionally, we have used the old-aged dependency ratio which compares the population aged 65 and over with the so called working-age population aged 15-64. But this approach is now outdated and can lead to unnecessary fear and even unhelpful policies. We need to revisit the definition of an older person and consider the actual labour force, rather than the potential labour force.
Dr David Knox AM believes that the old-age dependency ratio does not present the full story.
The measurement of our future ageing population needs to be more dynamic than the use of static ratios. It must recognise that there are likely to be ongoing changes in the labour force and life expectancies.
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