More Australians are expected to live into their 90s, according to the latest intergenerational report from Treasury. The report, which will be published in full on Monday, projects the impact of government policies 40 years into the future.
An extract released on Sunday forecasts that life expectancy at birth for women will reach almost 90 years by 2065/66, an increase from approximately 86 years at present. For men, life expectancy is predicted to rise to 86 years in the next four decades, up from 82 years.
Treasurer Jim Chalmers stated that Australia's universal healthcare system and medical research are the primary drivers of this rising life expectancy. He added that the report supports further investments in Medicare, the Pharmaceutical Benefits Scheme, and recently rolled out urgent care clinics.
The report also indicates that Australia's population is expected to be slightly lower by the mid-2060s than previously forecast in 2023, reaching 39.3 million by 2065/66. This is 1.8 million lower than the earlier projection, with much of the slowdown in population growth attributed to lower fertility rates.