Building on existing work

This report presents the results of the Business of Ageing 2021 update. This is the fifth update since 2010, which attempts to value the economic contribution of New Zealand’s increasing older population.

The fifth entry in the series builds on the framework set in the 2011 report. This report needs to be read in conjunction with the 2015 and 2017 reports (Te Tari Kaumātua – Office for Seniors, 2021). These reports cover the technical aspects of model design, sensitivity, and probability issues. More detail on this research can be found on the Office for Seniors website.

The data update to the existing model includes:

  • Population projections
  • Labour force projections
  • Calculation of labour force participation
  • Value of remunerated work and other income
  • Re-calculation of the value of unpaid work
  • Estimated expenditure
  • Re-base of the model to 2017 and 2021 dollars

To be consistent across each report in the series, we use the same model framework for the projections. Additionally, extra care was taken to ensure the input data series was as close to prior data as possible for this update. We have noted in later sections where this was not practicable due to series discontinuation or alteration of series definitions.

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