Boomers Bubble To Burst as Retirees.

If ever there were prophetic words uttered recently, they were delivered by high profile demographer Bernard Salt to the National Press Club.

He gave yet another gripping scenario of what it means for society as the first boomers reach pensionable age next year – 65 years after 1946, which triggered the post-war baby boom, which continued in high fertility rates until 1961.

He poured forth facts which cannot be fudged: Within a matter of years, we will have 4.5 million retirees – a whopping 2 million more than the 2.5 million retirees at present.

“I have a very confronting observation for you,’’ he said.

“Whatever amount of money you are able to raise, it ain’t gonna be enough. We will be working longer, you will be paying more taxes, we will be dragging in more skilled workers – and it still isn’t going to be enough.

“And that all comes down to the expectations of the baby boomers, the “me’ generation.’’

He warns that politicians have not grasped the reality of what lies ahead.

“We need to get more people to pay more tax to fund what is required in the health system,’’ he said.

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