Over-45s keep boosting economy: report

OLDER Australians are adding up to $65 billion to the nation's economy each year, a new report commissioned by a seniors consumer lobby has found.

The report for National Seniors measured the overall economic contribution of Australians aged 45 or older.

Including contributions not normally measured, like grandparenting, caring and volunteering, the Swinburne University research found older Australians added about 4.2% to the nation's gross domestic product.

National Seniors chief executive Michael O'Neill said the findings confirmed the role of older Australians as a "highly productive, essential part of the modern economy".

He said the research also indicated that in the workforce the older generations' loyalty and low absenteeism rates were worth about $27 billion to employers.

"Simply put, older Australians paid their way through their working years and now are more than paying their way in retirement," he said.

It also found older Australians added about $20.5 billion to the economy as "informal carers" for people with a disability and $1.5 billion in "grandparent care".

The report comes as the Abbott government moves to reform pensions.

Topics:  economy seniors

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Kingaroy police investigating wallet theft

The intruder fired a shot at the resident, who suffered minor injuries.

Phone Crime Stoppers if you have any information

Store expands to new Nanango location

With weekly sewing classes Alisellou Designs is set to be a community hub for crafty locals.

One stop sewing shop celebrates grand opening.

Flasher charged with drink driving

Woman will appear in court on April 9

Local Partners