What an ageing workforce means for businesses

Over just 50 years, average life expectancy has increased by more than a decade in developed nations. Around the world, this is raising questions about ageing and retirement for individuals, organisations and governments.

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“A combination of increasing life expectancy and falling birth rates means there are fewer workers to support a growing number of retirees,” says Richard Webb, superannuation lead at CPA Australia.

“This is what economists call a declining dependency ratio — and it is putting governments under pressure to delay retirement. The longer people pay tax, the more they contribute to the rising costs of ageing.”

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