The equity gap between Australia’s generations closed slightly after ‘a year like no other: 2020’.
The Index, commissioned by the Actuaries Institute and launched in 2020, takes a broad view of 24 indicators across six domains to track how wealth and wellbeing for different generations change over time. Those domains are economic, housing, social, health and disability, education, and the environment.
The update released today shows a drop in the values for those aged 65 to 74 years of age and an increase for those aged 45 to 54, and 25 to 34. This reversal breaks a 7-year streak of growing inequity, between the youngest and oldest cohorts.
The Index shows that 2020 is an interesting mix of temporary spikes, continuation of long-term trends, and opportunities to innovate in the policy space.