21st century Australia must embrace living to 100 or more was the central theme raised by the Minister for Aged Care, The Hon Ken Wyatt in his address to the National Press Club of Australia, on 25 October 2017.
"Right now, people like me, who may finish full time work in their 60s can expect to live for at least 20 years, post-retirement.
The number of us aged 65 and over is projected to more than double during the next 40 years, but we’re still failing to prepare well for living to 100 years of age.
Research from the London Business School has found that children born today in western countries had a 50 per cent chance of living to at least 104, or 107 for Japan.
It is anticipated there will be even more demand for aged care in Australia as the Baby Boomer generation reaches the age of 80.
The adage “Life begins at 40” was coined way back in 1932. "Today in 2017, I suggest that 70 is the new 40 - and counting" the Minister observed.
Increased longevity is not without some concerns; 'It was distressing that 40 per cent of people in nursing homes did not receive a single visitor over the year, he said.