Price-of-living fears hang-out the over 50s

By Mibenge Nsenduluka in Melbourne

OLDER Australians are more and more apprehensive concerning the future as many grapple with the cost-of-living disaster.

About 45 per cent of individuals aged 50 and over consider life is getting worse for them in comparison with 33 per cent in 2021, based on a brand new survey.

The report by the Council on the Ageing Australia exhibits monetary stress and difficulties accessing well being companies are among the many high causes many aged Australians have a detrimental outlook on the long run.

About 2750 Australians aged 50 and over shared their experiences and whereas a big proportion reported feeling almost eight years youthful than their precise ages, about one in three has skilled age-related discrimination.

“Ageism is a perverse problem which permeates the lives of older Australians and sits underlying this wider pattern of rising insecurity,” COTA chief government Patricia Sparrow mentioned.

“The stories findings underscore the necessity for the Australian authorities to develop a nationwide technique for older folks so policymakers take pressing steps to handle the considerations of older Australians to make sure they’re safer and resilient sooner or later.”

Regardless of the finances providing some aid for older Australians with $36 billion allotted to aged-care spending in 2023-24, many are apprehensive about funds, significantly the housing disaster and their threat of homelessness.

About six in 10 mentioned the price of residing was placing a pressure on their finances, which is considerably greater than the 31 per cent who had the identical considerations two years in the past.

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“Although we’re happy with the result of this yr’s federal finances which offered some aid on the pressures older Australians are going through, there may be nonetheless extra to do,” COTA federation chair Joan Hughes mentioned.

“The hip pocket of older Australians particularly, older pensioners who hire, are nonetheless strained.”

She added that rising Commonwealth Lease Help and well timed will increase to the pension would assist ease monetary stress.


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Ian Meikle, editor