Australia has an ageing population. A growing proportion of the population is over 65 years old. Since 1990, the percentage of the population that could potentially join the workforce (the 15 - 65 year olds) has fallen (from 66.9% of the total population to 66.6%). At the same time, the proportion of the population over 65 years from 8.3% of the total population (in 1970) to 11.9% (in 1995). Many of these people are dependent on the government for their retirement incomes (the old age pension).
Where will the money come from to fund these pensions? Migration provides additional tax payers, who help reduce the burden on the rest of us. Source : Reserve Bank of Australia, Occasional Paper 8
| ||||||||||||||||||||||||||||||||||||||||||||||