24 August 2009

Preserving the quality of life for the ageing population

Social policy researchers are warning that there will be widespread poverty among the burgeoning older population if critical issues of income, housing and health aren’t addressed.

Research carried out by the Family Centre Social Policy Research Unit and the Population Studies Centre at Waikato University found that the majority of today’s elderly have a high level of wellbeing strongly influenced by New Zealand Superannuation, home ownership and access to healthcare.

Researcher Charles Waldegrave says these findings have serious implications for future generations of elderly particularly given that those aged 65 plus will double to about 25 percent of the population over the next 30 to 40 years.

“This study shows us how dependent older people are on New Zealand Superannuation. Nearly half live on NZ Super plus $5,000 or less. At least a third have no assets except the family home. With home ownership rates dropping, and uncertainty about the future affordability of New Zealand Super, providing for a growing elderly population is one of the country’s most pressing issues.

“It is vitally important to sustain the relative level of New Zealand Superannuation in future years. And policies that reverse the trend of declining home ownership for younger people will contribute significantly to better living standards for them as they grow old.

“If careful planning and consideration is not given to these issues, ageing baby boomers will end up living in poverty. I hope the results of this research prompts policy makers, elder care providers and all New Zealanders to face up to the challenges and threats facing us as a country in the years ahead,” said Charles Waldegrave.

The research, Enhancing Wellbeing in an Ageing Society: 65-84 year old New Zealanders in 2007, involved a random sample of 1,680 interviews. Nearly 88 percent were either ‘very satisfied’ or ‘satisfied’ with their life and only 3.9 percent were ‘very dissatisfied’ or ‘dissatisfied’.

Men reported a significantly greater sense of wellbeing than women, as did people who were married or lived with a partner. Men, the younger elderly, the more educated and those living in a partnership had more income and wealth.

The Retirement Commissioner Diana Crossan is hosting the launch of the research today, Monday 24 August, 11.30, Level 3 Auditorium, Ministry of Social Development, Bowen State Building, Wellington.

The full report will be available at www.ewas.net.nz or www.familycentre.org.nz

ENDS

© Scoop Media