Australia is one of the meanest nations when it comes to older people. The HelpAge International Global AgeWatch Index ranks OECD statistics on spending on pensions as a percentage of GDP. Our report card in the 2014 index was mixed, except on income security where we performed particularly poorly. The index reported that Australia has the lowest ranking (61) in its region for the income security domain, and the highest old age poverty rate in the region (35.5 per cent). It also has below average pension income coverage (83per cent) and relative welfare rates (65per cent) compared to other countries in this region. In fact, Australia spends an average of 3.5 per cent of its GDP on age-related spending against an OECD average of 7.8 per cent, as reported by think tank Per Capita...
Posted on: Mon, 05 Jan 2015 02:39:14 +0000