Australian Actuaries Intergenerational Equity Index Update
The 2021 Australian Actuaries Intergenerational Equity Index update and accompanying Green Paper show the equity gap between Australia’s generations closed slightly after ‘a year like no other: 2020’.
Commissioned by the Institute and developed by Taylor Fry’s Hugh Miller, Ramona Meyricke, Laura Dixie and Matthew Bray, the Index takes a broad view of 24 indicators across six domains to track how wealth and wellbeing for different generations change over time. The domains include economic, housing, social, health and disability, education, and the environment.
The update released today shows a drop in the values for those aged 65 to 74 years of age and an increase for those aged 45 to 54, and 25 to 34. This reversal breaks a seven-year streak of growing inequity, between the youngest and oldest cohorts.
The Index shows that 2020 is an interesting mix of temporary spikes, continuation of long-term trends, and opportunities to innovate in the policy space.
For more information, head over to the Actuaries Institute website.
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