References

Curtin, J. (2019). A Review of Gender Differences in Retirement Income (Version 1). The University of Auckland. https://doi.org/10.17608/k6.auckland.9699443.v1

Inland Revenue. (2021). Tax rates for individuals. Retrieved 21 May 2021 from http://www.ird.govt.nz/income-tax/income-tax-for-individuals/tax-codes-and-tax-rates-for-individuals/tax-rates-for-individuals

Keeling, S., Davey, J., & Alpass, F. (2020). Maximising workforce participation for older New Zealanders – Opportunities, challenges and prospects. Case study 2: Employer needs and practices. https://www.massey.ac.nz/massey/fms/Colleges/College%20of%20Humanities%20and%20Social%20Sciences/Psychology/HART/publications/reports/HART_Case_Study_2_Report.pdf

Te Tari Kaumātua – Office for Seniors. (2021.) Ageing research: Business of ageing. https://officeforseniors.govt.nz/our-work/ageing-research/

The older entrepreneur – making life better. (2021, 13 October). RNZ. https://www.rnz.co.nz/programmes/the-detail/story/2018815583/the-older-entrepreneur-making-life-better

 

Appendix A Additional data tables

Table 8 Summary of model outputs in 2017$ for older people (aged 65+)

 

 

2021

2026

2031

2036

2041

2046

2051

2056

2061

2066

2071

Population and workforce

                     

Number of older people

819,500

970,100

1,122,900

1,255,000

1,349,900

1,410,900

1,486,600

1,599,400

1,711,100

1,798,600

1,875,000

Participating males

118,300

140,700

160,100

173,200

177,500

179,400

191,400

215,900

233,600

236,800

236,800

Participating females

76,400

93,700

109,400

120,100

123,100

123,200

131,700

147,800

155,100

155,700

155,400

Total older workforce

194,700

234,300

269,500

293,300

300,600

302,600

323,100

363,600

388,800

392,400

392,400

Participation rate – males

0.31

0.31

0.31

0.30

0.29

0.28

0.28

0.29

0.29

0.28

0.26

Participation rate – females

0.18

0.18

0.18

0.18

0.17

0.16

0.17

0.17

0.17

0.17

0.16

Overall participation rate

0.24

0.24

0.24

0.23

0.22

0.21

0.22

0.23

0.23

0.22

0.21

 

                     

Value of remunerated work ($ Bn)

                     

Paid work

5.91

7.77

9.74

11.52

12.78

13.90

15.99

19.33

22.16

23.93

25.55

Self-employment

3.67

4.83

6.06

7.16

7.95

8.64

9.94

12.02

13.78

14.88

15.89

Total value of remunerated work

9.58

12.61

15.80

18.68

20.73

22.54

25.93

31.36

35.95

38.81

41.43

 

                     

Value of paid tax ($ Bn)

                     

Tax on earnings from remunerated work

1.48

1.94

2.43

2.88

3.19

3.47

3.99

4.83

5.53

5.98

6.38

Tax on government transfers

2.81

3.63

4.58

5.56

6.48

7.31

8.30

9.59

11.00

12.37

13.77

Tax on investments and other income

0.89

1.16

1.46

1.77

2.06

2.33

2.64

3.06

3.50

3.94

4.39

GST (assumed all income spent)

3.78

4.91

6.18

7.45

8.56

9.57

10.90

12.76

14.63

16.27

17.91

All tax including GST

8.95

11.64

14.65

17.65

20.29

22.68

25.83

30.23

34.67

38.56

42.45

 

                     

Value of unpaid work ($ Bn)

                     

Based on 2013 carer wage

12.86

16.61

20.97

25.55

29.95

33.97

38.48

44.22

50.69

57.27

64.04

Based on 2021 minimum wage

14.31

18.47

23.33

28.42

33.32

37.79

42.81

49.19

56.39

63.71

71.24

 

                     

Total income ($ Bn)

                     

Remunerated work

9.58

12.61

15.80

18.68

20.73

22.54

25.93

31.36

35.95

38.81

41.43

Government transfers

16.03

20.75

26.16

31.76

37.00

41.77

47.41

54.81

62.87

70.69

78.68

Investments and other

8.51

11.01

13.89

16.86

19.64

22.18

25.17

29.10

33.38

37.53

41.77

Total value

34.13

44.37

55.86

67.31

77.38

86.49

98.51

115.26

132.19

147.03

161.88

 

                     

Expenditure ($ Bn)

                     

Groceries, clothing, alcohol and tobacco

6.02

7.82

9.85

11.87

13.65

15.25

17.37

20.33

23.31

25.93

28.55

Housing and household utilities

8.57

11.14

14.03

16.90

19.43

21.72

24.74

28.94

33.19

36.92

40.65

Health

1.07

1.39

1.74

2.10

2.42

2.70

3.08

3.60

4.13

4.59

5.05

Transport and communication

5.73

7.45

9.38

11.30

12.99

14.52

16.54

19.35

22.19

24.69

27.18

Recreation, culture and education

3.49

4.54

5.72

6.89

7.92

8.85

10.08

11.80

13.53

15.05

16.57

Miscellaneous

2.73

3.55

4.47

5.38

6.19

6.92

7.88

9.22

10.58

11.76

12.95

Interest

1.35

1.75

2.20

2.65

3.05

3.41

3.88

4.54

5.21

5.80

6.38

Total expenditure

28.95

37.64

47.39

57.10

65.65

73.38

83.57

97.79

112.15

124.75

137.35

 

Table 9 Summary of model outputs in 2021$ for older people (aged 65+)

 

 

2021

2026

2031

2036

2041

2046

2051

2056

2061

2066

2071

Population and workforce

 

 

 

 

 

 

 

 

 

 

 

Number of older people

819,500

970,100

1,122,900

1,255,000

1,349,900

1,410,900

1,486,600

1,599,400

1,711,100

1,798,600

1,875,000

Participating males

118,300

140,700

160,100

173,200

177,500

179,400

191,400

215,900

233,600

236,800

236,800

Participating females

76,400

93,700

109,400

120,100

123,100

123,200

131,700

147,800

155,100

155,700

155,400

Total older workforce

194,700

234,300

269,500

293,300

300,600

302,600

323,100

363,600

388,800

392,400

392,400

Participation rate – males

0.31

0.31

0.31

0.30

0.29

0.28

0.28

0.29

0.29

0.28

0.26

Participation rate – females

0.18

0.18

0.18

0.18

0.17

0.16

0.17

0.17

0.17

0.17

0.16

Overall participation rate

0.24

0.24

0.24

0.23

0.22

0.21

0.22

0.23

0.23

0.22

0.21

 

 

 

 

 

 

 

 

 

 

 

 

Value of remunerated work ($ Bn)

                     

Paid work

6.39

8.41

10.54

12.46

13.83

15.04

17.30

20.92

23.98

25.89

27.64

Self-employment

3.98

5.23

6.56

7.75

8.60

9.35

10.76

13.01

14.91

16.10

17.19

Total value of remunerated work

10.37

13.64

17.10

20.21

22.43

24.39

28.05

33.93

38.89

41.99

44.83

 

 

 

 

 

 

 

 

 

 

 

 

Value of paid tax ($ Bn)

                     

Tax on earnings from remunerated work

1.60

2.10

2.63

3.11

3.45

3.76

4.32

5.22

5.99

6.47

6.90

Tax on government transfers

3.04

3.93

4.95

6.01

7.01

7.91

8.98

10.38

11.90

13.39

14.90

Tax on investments and other income

0.97

1.25

1.58

1.92

2.23

2.52

2.86

3.31

3.79

4.26

4.75

GST (assumed all income spent)

4.09

5.31

6.69

8.06

9.27

10.36

11.79

13.80

15.83

17.61

19.38

All tax including GST

9.68

12.59

15.85

19.10

21.96

24.54

27.95

32.71

37.51

41.72

45.93

 

 

 

 

 

 

 

 

 

 

 

 

Value of unpaid work ($ Bn)

                     

Based on 2013 carer wage

13.91

17.97

22.69

27.64

32.40

36.75

41.64

47.84

54.85

61.96

69.29

Based on 2021 minimum wage

15.48

19.99

25.24

30.75

36.05

40.89

46.32

53.23

61.02

68.94

77.09

 

 

 

 

 

 

 

 

 

 

 

 

Total income ($ Bn)

 

 

 

 

 

 

 

 

 

 

 

Remunerated work

10.37

13.64

17.10

20.21

22.43

24.39

28.05

33.93

38.89

41.99

44.83

Government transfers

17.35

22.45

28.31

34.37

40.04

45.19

51.30

59.30

68.02

76.49

85.13

Investments and other

9.21

11.92

15.03

18.25

21.25

23.99

27.23

31.48

36.11

40.61

45.19

Total value

36.92

48.01

60.44

72.83

83.73

93.58

106.58

124.72

143.03

159.09

175.15

 

 

 

 

 

 

 

 

 

 

 

 

Expenditure ($ Bn)

 

 

 

 

 

 

 

 

 

 

 

Groceries, clothing, alcohol and tobacco

6.51

8.47

10.66

12.84

14.77

16.50

18.80

22.00

25.22

28.06

30.89

Housing and household utilities

9.27

12.05

15.18

18.29

21.02

23.50

26.76

31.32

35.92

39.95

43.98

Health

1.15

1.50

1.89

2.27

2.61

2.92

3.33

3.89

4.47

4.97

5.47

Transport and communication

6.20

8.06

10.15

12.23

14.06

15.71

17.90

20.94

24.01

26.71

29.41

Recreation, culture and education

3.78

4.91

6.19

7.46

8.57

9.58

10.91

12.77

14.64

16.29

17.93

Miscellaneous

2.95

3.84

4.84

5.83

6.70

7.49

8.53

9.98

11.44

12.73

14.01

Interest

1.46

1.89

2.38

2.87

3.30

3.69

4.20

4.92

5.64

6.27

6.91

Total expenditure

31.32

40.73

51.27

61.78

71.03

79.39

90.43

105.81

121.34

134.98

148.61

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