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Kpmg Apollo Bay AHIA National Conference 2005 An Ageing Australia Implications of demographic change for the health industry Bernard Salt Author The Big.

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Presentation on theme: "Kpmg Apollo Bay AHIA National Conference 2005 An Ageing Australia Implications of demographic change for the health industry Bernard Salt Author The Big."— Presentation transcript:

1 kpmg Apollo Bay AHIA National Conference 2005 An Ageing Australia Implications of demographic change for the health industry Bernard Salt Author The Big Shift Partner KPMG Australia 10 November 2005

2 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg Aussies slide towards natural decrease Recession Baby Boom 1975 crisis Fertility decline Boomers die off 2035 Natural decrease

3 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg Singles beat off couples and families  Mum, Dad & the Kids has been the leading social structure at the household level in Australia for several decades  By 2011 the traditional nuclear family loses supremacy as the dominant household type (to couples)  By 2021 ‘families’ and couples are eclipsed by singles – who then pull ahead in 2020s Net growth (000) Singles ,628 Couples ,295 One-parent family Mum, Dad & the Kids Group households54386 Other family11112 Households

4 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg ChildTeenOld Age Adult ChildAdultOld Age Source: ABS 2003a, , , ; Australia’s Health 2004 (AIHW) Boomers redefine 50-something ChildAdolescenceAdultLifestyleOld Retired

5 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000, Year Population Baby boomers just won’t die … they will soon influence national budgets Source: ABS Censuses; ABS Series B Projections September 2003

6 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg It doesn’t get any better after … Boomers at their peak until June 2006 … then the slide begins

7 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg Retirement now … and next decade Born pre 1939 Now aged 65+ Great Depression & WWII Frugal by nature Quite like the term “Senior Citizen” “Content” and “happy” in retirement Most make their exit by 2020 … boomers around until the 2030s Born 1946 – 1961 Now aged 44 – 59 First Boomer retires 1 July 2011 Consumerist by nature Hippies, punks, dinks & yuppies … and now Seachangers Will redefine retirement … may well work longer Boomer retirement impact will peak Today’s retireesTomorrow’s retirees

8 © 2005 KPMG, an Australian partnership, is part of the KPMG International network. KPMG International is a Swiss cooperative. All rights reserved. The KPMG logo and name are trademarks of KPMG. kpmg Further information & contact The Big Shift 2 – $19.95rrp Bernard Salt’s column appears in The Australian every Thursday Bernard Salt’s columns appears monthly in Property Australia and Wish Magazine Population Growth Report 2005 now available at $595: contact Contact: Bernard Salt (03) ; The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


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