"The Business of Ageing"

Age Concern welcomes the acknowledgement in the new Business of Ageing report that population ageing has many positive aspects and can produce economic benefits.

"Age Concern New Zealand shares the Minister of Senior Citizens' objective of improving attitudes towards, and increasing respect for, older people in New Zealand" says Age Concern Chief Executive, Ann Martin. 

"The report confirms that more older people are staying in the paid work force after the age of 65. Many mature workers need the money because the pension is not enough to cover the basics, especially if they are paying a mortgage, rent or have dependents.

"We believe this should continue to be on a voluntary basis and should not affect their eligibility for New Zealand Superannuation."

New ways of working

We also believe that employers should strive to provide working conditions which help retain older people wanting to continue working in the paid workforce.

We agree that employers and older people need to talk openly about new ways of working which will meet the needs of both sides. Opportunities for upskilling and continuing education are vital to improving the quality of work.

At the same time, we recognise the value and significant contribution to the New Zealand economy of the voluntary and caring work done by older people. Currently this un-paid, voluntary work is estimated to be around $5-6 billion.

Benefits and opportunties

The report also covers the market potential of an ageing society. Already, products and services are being developed by more far-sighted businesses. To realise this potential means acknowledging their spending power and their diversity, especially as the baby boom generation reach later life.

It is time for businesses and government to look at the implications of ageing in New Zealand with greater focus on the benefits and opportunities provided now and in the future by people over 65.

Resource

The Business of Ageing: Realising the Economic Potential of Older People in New Zealand: 2011 - 2051

> VISIT the Ministry of Social Development's website for copies of the report