Company Description Of The Retirement Industry

This essay aims to represent an argument between two view points: to remain in their own homes with ongoing support from families and the health system or going to residential aged care of elderly in Australia. Especially, it deals with the issue of increasing ageing population in Australia includes statistical information highlighting some causes and telltales. The context presented is economic and social. It also looks at the effects that increasing of the ageing population has on society, the individual and the Australian economy.

Acquiring self satisfaction is my main goal in life, how I achieve it is by doing the things I enjoy and have a passion for. Deciding to study building surveying was made based on a few reasons that I believe can help me obtain self satisfaction in my studies and in my future endeavours. Having the opportunity of working both in the office and on the field is the key factor in me choosing to pursue my study in building surveying. Travelling to different locations, being exposed to different conditions and work sites, exploring the natural phenomena around me and being able to assist the community by helping to develop a safe and sustainable environment. With an increasing demand and growth in the building industry, as a building surveying student

Yes, it is expected to increase and this is also due to the fact of the baby boomer era. The population grew drastically between the years of 1946-1964, due to the rapid growth and the large numbers born during that time, it is said that by 2030, 46% of the population will be 65 or older. By taking these numbers into consideration that makes one in five people will be of old age by 2030

Sunrise Senior Living Inc. is one of the top firms in the rapidly growing long-term care industry. They provided a number of services for senior citizens including assisted living, meals, transportation, housekeeping, and licensed and highly skilled nurses for certain residents who require 24 hour care. The company was started in 1981 in Fairfax, Virginia by married couple Paul and Terry Klaassen who had a vision of creating alternative senior living options that emphasize quality of life. They have started what is now the most recognized company in the industry boasting innovative products and services

In 1901 just 4.0% of the Australian population were older people and after two decades this has increased to 6.4%. In 2011 the aged population continued to increase and reached 14%. The Australian Bureau of Statistics (Abs.gov.au, 2012) indicates that since the baby boomers are now becoming old, there has been a decrease in fertility rates and an increase in life expectancy. The population of people over 65 years has continued to increase and it is predicted that it will continue to increase for the next 50 years. As people become older they are more susceptible to becoming sick and in need of government benefits. Since there is a major

This case study report delivers an investigation and assessment into the Federation Square project, providing answers for senior executives. The Federation Square, situated in the heart of Melbourne was one of the most complex and ambitious construction projects in Australia’s history, becoming an icon for years to come. This case study will report on four significant project management areas contained in PMBOK (Project Management Body of Knowledge), which include: Scope, Time, Cost and Quality.

a. i. An employer with a defined-contribution plan pays into the plan either an annual lump-sum per employee or calculates payments based on the employees‟ current wages and or time of service with the firm. Under such a plan, the employer does not guarantee the future amounts employees will receive when they retire. The employees covered by a defined-contribution plan assume the risk for the pension plan‟s financial performance. Under a defined-benefit plan, the employer specifies the size and timing of the payments that the employees will receive when they retire. Typically, these retirement benefits are commensurate with the wages earned by the employee in his or her last few years of employment

The information gathered has been quite consistent with the expectations had before having begun this research report. The ageing population has been a topic that has discussed on the radio, in newspapers and on the news and so there was a fundamental understanding of the changing demographic facing the Australian population, though there wasn't much of understanding of why this was happening. This issue is something that many countries around the world are facing so this also makes it well publicised. In the future, more time could have been used to explore past Australian census which could provide more vital information on Australia's past and present populations

Australia’s ageing population is increasing rapidly. A primary cause of this is due to the ageing baby boomers expected to account for 25 per cent of Australians aged over 65 by 2047. (Treasury, 2007) Across the coming century Australia is anticipated to age for two reasons, a decreasing fertility rate and a rise in life expectancy. (Treasury, 2007)

The ageing of societies will have a dramatic impact on both economy and Federal budget. For example, the potential to increased pressure on Government expenditure, particularly on pensions and health care (Klein-Collins & Snyder, 2011). There is evidenced that older Australians are increasingly vulnerable to a higher risk of poverty, with 14.8% of people over the age of 65 living below the 50% poverty line (Australian Council of Social Service, 2014). Australia’s human rights obligations required governments to ensure that older people are protected from poverty by providing social security income (Australian Human Right Commission, 2012). Australian governments, at all levels provide support payments that reduce social exclusion (Australian Bureau of Statistics, 2012). The age pension provides financial assistance and access to a range of concessions for eligible older Australian (Department of Human Services, n.d). The Age Pension is a fundamental part of Australia’s retirement income system and provides a safety net for those unable to fully support themselves in retirement (The Australian Government,

In the 2005 documentary The Open Road: America Looks at Aging director, Nina Gilden Seavey defines retirement in the perspective of potential or current retirees. For some people, retirement lives up to their expectation of what is coined as “the golden age,” while others struggle or may never [willingly] see retirement in their future. Having parents that make up two out of the 77 million baby boomers, I think the documentary did a good job representing the perks as well as problems that the age of retirement can bring; being financial or the exposure to age-stereotyping (ageism).

The Australian Bureau of Statistics (ABS) projections illustrate that the total number of people aged 65 and over will almost double from 2.6 million in 2004 to around 4.5 million in 2021, and upto 7-9 million in 2051. Meanwhile, the ratio of those of workforce age (15–64) to old age (65 and older) will drop notably from 5:1 in 2002 to 3.4:1 in 2021, and 2.2:1 in 2051.These trends are predicted to make the increased demand for aged care inevitable, thus exceeding the supply. This workforce shortfall is further worsened by the fact that an ageing population increases service demand whereas an ageing workforce decreases service capacity.

Although mandatory retirement is not largely popular, it still has an effect on many older workers and how they plan for retirement. "Mandatory retirement involves less than 1 percent of the work force and so opens up only a small fraction of the total jobs", because

The number of people aged 65 or above is expected to rise sharply in the

Vassallo Builders Group: Mission Statement1     “To provide the highest quality in a broad range of business activities, offering a professional and efficient service to all our clients To provide growth and ensure profitability of the whole group To encourage and assist all personnel to fully develop their careers within the group To enhance our ability to contribute towards the economic development of our country”