Is the age pension in Australia sustainable and fair?

Purpose of research project *

We model and forecast age-specific populations for each state and territory using Australian regional demographic data. From the projected life expectancy, we discover the unfairness of the current pension age, 67. For residents in the NT, their average life expectancy is around 75. In contrast, the average life expectancy for residents in the ACT is around 85. This unfairness in life expectancy at birth creates a gap in the total pension amount one is entitled to receive.

Who has, is or will benefit *

Australian in the disadvantaged groups residing in remote regions

Description of impact *

One pension age may not be suitable for all. The federal government is unlikely to let the pension age be different, as it is too complex. The state government could provide a subsidy to help closer-to-retirement residents in disadvantaged regions. This is the hope of our research to highlight the discrepancy across regions in the total pension amounts. Our research was also summarised and published in the ANU tax policy forum.

Impact date	Nov 2024 → Feb 2025
Category of impact	Society impacts, Economy impacts
Impact level	Emerging (pre)