1. INTRODUCTION:
1.1. Aim:
The aim behind conducting the research is to study the life style of the retirees in Melbourne. The reason behind writing this report and conducting the study is to raise the awareness about the problems faced by the retirees and how they get to live after their retirement. The report will also states the importance of planning before the retirement age for the retired life. The report is written for the minister of [please complete the sentence]
1.2. Background:
After retirement, mostly people live alone with their partners, live as senior of the family or as the grandparents. Some of them move to the retirement villages in order to fulfill their daily basic requirements in the limited resources. According to the law, employers have to make contribution towards the retirement of the employees and this is done by contributing almost 9.5% of the employee’s salary into the superannuation fund [1]. This law is applicable for every employee whose age is 18 to 70 and is working for more than 30 hours per week. Individuals can also fund for their superannuation in order to secure their retired life. Superannuation fund can only be withdrawn after the age of 55 and for this there is a strict legislation. It can be withdrawn as lump sum or in the form of the pension [2]. According to the research, mostly men live 18.5 years after their retirements and mostly women live over 23 years after retirement whereas their superannuation funds last for almost 10 years of their retirement age [3]. That is why, now authorities are trying to increase the age of retirement so that people get to work a bit longer as organizations give preference to the young employees and do not want to hire the old minds.
It is said that after the retirement mostly people become depressed because of losing their everyday work routine. According to a research, retirees have to come across the serious relationship issues and this leads them to health issues [4].
The report is basically about retirees who face such difficulties and for the government to get awareness of the problem which come over after getting retired. The importance of this report cannot be neglected because now retirees are the big part of our society and sooner or later everyone has to reach at that point where he will become a victim to these problems. This report will provide the important statistics regarding the retirement reasons and other factors affecting the retirement decision.
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The Ministry of Social Development, 2008. Office for Senior Citizens the Ministry of Social Development Highlights from the Positive Ageing Strategy Annual Report 2001/2008 and Action Plan 2008/2010
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