Posted by Everald Compton on 23 September 2014

Everald Compton is Chairman of a Blueprint for an Ageing Australia. In the opening speech he gave at the launch of the paper at the National Press Club in Canberra earlier this month, Compton highlighted the need to turn ageing into a social and economic asset, not a liability.

People are growing older and are doing so at a far greater rate than ever before in the history of the world.

All nations now face a considerable social and economic revolution as a result, and Australia cannot hope to be an exception, as most of us can confidently expect a lifespan of at least 90 years, with many thousands about to achieve their century.

If we act now, we can ensure that we will turn ageing into a significant social and economic asset, not a liability, and the Blueprint for an Ageing Australia that we present to the nation today, strives to do exactly this.

Let me briefly outline the key recommendations. [Note: This is an edit of the major points. You can read the full transcript here.]

Prime Ministerial leadership

The challenge of ageing is so great that the enormous task of turning it into a powerhouse for the nation must be the responsibility of no less a leader than the Prime Minister (PM).

There must be a Minister for Ageing within his office who has cabinet status and implements the PM’s ageing policies, co-ordinating action across all departments, as well as with State and Local Governments, community institutions, first Australians and culturally and linguistically diverse communities.

Business opportunities

Older Australians are a rapidly growing economic force in the marketplace, but they are largely ignored by providers of goods and services who fail to observe that they have special needs that can be a huge source of sales income for them. One day soon, the ageing market will be the market.

Mature age employment

Discrimination against older workers who want to remain in, or re-enter, the workforce is rampant, and is a blot on the traditional Australian ethic of giving everyone a fair go. As the result of this archaic attitude, Australia loses billions of dollars in productivity every year, while it adds unnecessary billions to welfare rolls.

Philanthropy

Despite the economic gloom fostered by too many politicians, Australians have never been wealthier and there is a particularly stable middle class, as well as an ever-expanding group of the wealthy.

We now have the potential to involve thousands of senior Australians in establishing charitable trusts and foundations, which will work for Australia long after they have departed and be a powerhouse for the long-term funding of education, science, health, homelessness, etc.

Above all, we advocate a strong dose of encouragement for the many thousands of volunteers who work for our nation’s charities – most of whom are seniors. They cannot afford the heavy premiums that insurance companies charge them for protection against legal actions that stem from accidents. Governments must protect and foster them through adequate legislation.

Enabling environments

Brian Howe will outline to you in detail our recommendations on age-friendly housing, of which there is an enormous shortage, particularly in the rental market.

Retirement incomes

This is the most contentious issue of them all. It is the one that creates the most public debate and about which there is the greatest uncertainty in the minds of millions of retirees.

Let me recommend that you read the excellent report on this subject published two weeks ago by Per Capita researcher, Emily Millane, who is here today.

It faces many of the crucial issues that governments, now and in the future, must determine with political bravery. These challenges are unavoidable and will not go away. They relate to many crucial matters, some of which are retirement and access ages for pensions and superannuation, a fair calculation of pensions and planning to ensure superannuation will last until people reach 90 years of age, together with how they may have to be taxed to avoid excessive tax impositions on our grandchildren.

Technology

Most seniors are not computer literate or skilled, so we have recommended a considerable investment in a national campaign to enable most of us to stay in touch with the world and prosper as the result, but education in technology must go on for decades or we will be left behind.

Wellbeing

A healthy nation will enjoy a happier old age. It will also ensure that the huge health costs of ageing will reduce dramatically.

The next steps

The panel asks all political parties operating at Federal, State and Local Government levels to give a considered response to this blueprint, and to invite us to work with them to ensure that it all happens as soon as possible.

The best years

In October, I will reach the numerical age of 83, and I invite you all to give serious consideration to shouting me a wee dram of rare single malt whisky from deep in the highlands of Scotland, one that is at least 25 years old.

On that day, I will once more acknowledge that I have not yet reached my prime.

I joke not.

I firmly believe that I still have the best years of my life ahead of me, as is the case with many thousands of Aussies in their eighties.

All we ask is that we are given the opportunity to compete with younger Aussies on a level playing field and be given a fair go at proving that we have the wisdom, vision, loyalty and reliability to make a valuable contribution to the life and future of the nation through vibrant inter-generational partnerships.

I invite you to meet me here at the Press Club 10 years from now to review what progress we have made in implementing our Blueprint for an Ageing Australia. I have no doubt that I will be here.

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