Over Sixty Winter 2022 Digital

7 NEWS OVERSIXTY.COM.AU | WINTER 2022 RACHEL FIELDHOUSE NEWS N ew research has found that since the pandemic, Australia’s seniors have shifted their retirement aspirations and plans, placing greater importance on living closer to family. The Australian Seniors’ Quality of Life 2022 report, released in April 2022 after surveying the opinions of 5000 Australians aged over 50, found one in three have changed their retirement priorities because of Covid. At the heart of this desire for a family-focused, simpler life is a firm mindset expressed by almost half of respondents that living a longer and more fulfilling life involves making good physical and mental health their highest retirement priority. “Older adults have been resilient in their emotional response to the pandemic often because they tend to prioritise close relationships, meaning and emotional contentment,” said Dr Carly Johnco, deputy director of Macquarie University’s Centre for Ageing, Cognition and Wellbeing. “The pandemic has forced everyone to become more aware of their mortality, with many people taking stock of their life circumstances and reprioritising the things that matter to them.” The harsh reality is the pandemic has definitely impacted retirement plans and raised important concerns. The sudden closure of state and international borders has altered the ‘When I retire’ mindset. For now, at least, 55 per cent of seniors indicated their travel ‘bucket list’ had suffered a reality check, and saw their ability to travel as they would desire no longer a given. With travel long considered a retirement right, 62 per cent said this altered reality about travel meant their quality of life during retirement had been reduced. But this concern doesn’t stop at travel. The family separations experienced in the past two years have made spending time with family (42 per cent), and socialising and being in the community (36 per cent) a close second and third among the concerns now impacting retirement plans. The survey revealed a sobering realisation that retirement expectations have changed. When asked whether Covid had changed their ability to achieve and maintain their preferred quality of life in retirement, just over 50 per cent of respondents said they expected to face greater health risks. This sentiment is understandable with people aged 60-90+ more at risk of becoming seriously ill with Covid, and Australian Government Department of Health statistics, as at 1 June 2022, revealing the 70-90+ age Covid’s impact on retirement “The pandemic has highlighted some of the challenges associated with aged care facilities” Photos: Getty Images NEWS group account for the most Covid deaths. Seniors want to live independently for as long as possible in their retirement. An overwhelming 94 per cent of respondents ranked this life choice as either very important (22 per cent) or extremely important (72 per cent). In addition to enjoying good health and living comfortably without financial stress or mental health issues, living independently was among the top five key things seniors believe are important drivers of happiness in retirement. It comes as the preference for living at home and the number of eligible over- 65s receiving home-based care outstrips residential aged care. The 2022 Productivity Commission’s Report on Government Serv- ices states over one million Australians received home care and support services last financial year, while the occupancy rate in residential aged care facilities was 86.8 per cent, the lowest it has been for ten years. Living at home also makes it easier for seniors to stay connected to family and friends – a key aspiration of Australian retirees. According to Dr Johnco, older Australians have traditionally expressed a preference for staying in their homes, where they can receive support from people they know and trust. “The pandemic has highlighted some of the challenges associatedwith aged care facilities, such as reduced access to family during end- of-life care, reinforcing people’s preference to keep living independently at home.”