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Poor economic prospects for many older women
‘Time of Our Lives?’, a new report commissioned by Lord Mayor’s Charitable Foundation, explores the key risk factors that often contribute to the feminisation of poverty and disadvantage - especially among older demographics in Australia.
The research conducted by Adjunct Associate Professor, Dr Susan Feldman and Dr Harriet Radermacher from Monash University aims to increase knowledge about how inequitable circumstances affect women’s capacity for employment, economic and social participation.
“Retirement should be the time of our lives, however many older women find themselves vulnerable to financial stress or struggling to maintain housing despite their vital role in economic and community life.
“This unique and powerful report gives a voice to the more than half a million older Australian women living in long-term income poverty,” says Catherine Brown, Chief Executive Officer of Lord Mayor’s Charitable Foundation.
This report is part of Lord Mayor’s Charitable Foundation’s strategic initiative to address the issue of older women ageing in poverty.
‘Time of Our Lives?’ identifies the risk factors and triggers leading to long-term disadvantage for women as they grow older. The report documents positive strategies and programs developed within the broader community to improve economic and social opportunities for older women and highlights areas where more work is required.
“Too many older women are homeless or live in permanent poverty. Our report shows that there are a lack of good, long-term models in relation to housing and finance to address the problem.
“Having identified the problems, more work is needed to develop viable solutions. However, as one of the research participants noted, what is clear is that a man is a not a financial plan for the future.”
The report was launched on Monday 7 March 2016 by Sue Hendy, Chief Executive Officer – Council on the Ageing (COTA) Victoria, ahead of International Women’s Day on Tuesday 8 March.