Welcome Guest [Log In] [Register]


Reply
  • Pages:
  • 1
  • 9
The Ageing Public Servants
Topic Started: 19 Sep 2015, 11:43 AM (4,410 Views)
ThePauk
Member Avatar
Diamond Member
Commonwealth government's ageing workforce becoming a problem
"More than 30 per cent of federal public servants are now over 50, compared to 20 per cent in 2001.
Some agencies now have staffing levels of over 45s approaching 70 per cent while the proportion of workers aged under-25 has nearly halved in the past seven years.
At June 2015, the largest age group was employees aged 50 to 54 years, representing 14.7 per cent of all APS employees, the latest statistical bulletin from the ACT Government reports.
There was an increase recorded in the 55 to 59 age group, which grew from 9.9 per at June 2014 to 10.1 per cent a year later.
There was also an increase in the over-60s year age group, from 6.8 per cent to 6.9 per cent.
The Australian Electoral Commission and Veterans' Affairs had the oldest age profiles, with 70 per cent and 60 per cent aged over 45."....

Read more: http://www.canberratimes.com.au/national/public-service/public-services-grey-army-grows-20150917-gjokhz.html#ixzz3m8mlWB4Y
Follow us: @canberratimes on Twitter | CanberraTimes on Facebook
Profile "REPLY WITH QUOTE" Go to top
 
zaph
Default APF Avatar


ThePauk
19 Sep 2015, 11:43 AM
Commonwealth government's ageing workforce becoming a problem
"More than 30 per cent of federal public servants are now over 50, compared to 20 per cent in 2001.
Some agencies now have staffing levels of over 45s approaching 70 per cent while the proportion of workers aged under-25 has nearly halved in the past seven years.
At June 2015, the largest age group was employees aged 50 to 54 years, representing 14.7 per cent of all APS employees, the latest statistical bulletin from the ACT Government reports.
There was an increase recorded in the 55 to 59 age group, which grew from 9.9 per at June 2014 to 10.1 per cent a year later.
There was also an increase in the over-60s year age group, from 6.8 per cent to 6.9 per cent.
The Australian Electoral Commission and Veterans' Affairs had the oldest age profiles, with 70 per cent and 60 per cent aged over 45."....

Read more: http://www.canberratimes.com.au/national/public-service/public-services-grey-army-grows-20150917-gjokhz.html#ixzz3m8mlWB4Y
Follow us: @canberratimes on Twitter | CanberraTimes on Facebook
How can we bash them?

Cancel old school pensions.
Profile "REPLY WITH QUOTE" Go to top
 
ThePauk
Member Avatar
Diamond Member
zaph
19 Sep 2015, 12:39 PM
How can we bash them?

Cancel old school pensions.
Bash them?
The issue will be the draw downs on the Future Fund and it only being half of what we need.
Profile "REPLY WITH QUOTE" Go to top
 
zaph
Default APF Avatar


ThePauk
19 Sep 2015, 12:40 PM
Bash them?
The issue will be the draw downs on the Future Fund and it only being half of what we need.
I'm sure you can think of a way to bash gran? You're good at it.

Profile "REPLY WITH QUOTE" Go to top
 
ThePauk
Member Avatar
Diamond Member
zaph
19 Sep 2015, 12:49 PM
I'm sure you can think of a way to bash gran? You're good at it.
And what are you good at Zaph?
Profile "REPLY WITH QUOTE" Go to top
 
stinkbug
Member Avatar


ThePauk
19 Sep 2015, 12:40 PM
Bash them?
The issue will be the draw downs on the Future Fund and it only being half of what we need.
We're likely to not need the future fund at all.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

Profile "REPLY WITH QUOTE" Go to top
 
ThePauk
Member Avatar
Diamond Member
stinkbug
19 Sep 2015, 01:14 PM
We're likely to not need the future fund at all.
Dear me, Stinkbug, your ignorance is growing...

Future fund
The Future Fund was created by the government led by John Howard in 2006 to “assist future Australian governments [to] meet the cost of public sector superannuation liabilities by delivering investment returns on contributions to the Fund”.
As at 30 June 2012, the Future Fund reported $77 billion in assets.
This means that there is a shortfall of more than $130 billion to cover the Australian state and federal unfunded liabilities.
https://theconversation.com/explainer-what-are-unfunded-liabilities-9924

http://www.governmentnews.com.au/2014/05/stark-warning-shepherd-commonwealth-super-funding-future-fund/

Posted Image
from http://www.ncoa.gov.au/report/phase-one/part-a/4-2-the-state-of-the-balance-sheet.html


http://www.futurefund.gov.au/__data/assets/pdf_file/0009/6849/FFMA_2015-16_Corporate_Plan_-_SIGNED.pdf
http://www.businessinsider.com.au/australias-giant-future-fund-has-been-ditching-stocks-in-favour-of-cash-2015-9
Edited by ThePauk, 19 Sep 2015, 01:26 PM.
Profile "REPLY WITH QUOTE" Go to top
 
stinkbug
Member Avatar


ThePauk
19 Sep 2015, 01:23 PM
Dear me, Stinkbug, your ignorance is growing...

Future fund
The Future Fund was created by the government led by John Howard in 2006 to “assist future Australian governments [to] meet the cost of public sector superannuation liabilities by delivering investment returns on contributions to the Fund”.
As at 30 June 2012, the Future Fund reported $77 billion in assets.
This means that there is a shortfall of more than $130 billion to cover the Australian state and federal unfunded liabilities.
https://theconversation.com/explainer-what-are-unfunded-liabilities-9924

http://www.governmentnews.com.au/2014/05/stark-warning-shepherd-commonwealth-super-funding-future-fund/

Posted Image
from http://www.ncoa.gov.au/report/phase-one/part-a/4-2-the-state-of-the-balance-sheet.html
Dear me Puak, your lack of understanding how government really works is growing.

The government created the future fund as a place to store spare money, where it couldn't easily be nicked by future Lavor govts, at least not for a while. Despite what the news said, this was an excuse to save at a time when money was everywhere, and within government that's exactly how it was viewed.

The future fund aims to return CPI + 4.5%, and has successfully done this and more. The government can currently borrow at 2.x% via bonds. Why would they tap an investment that has averaged 8% growth since inception (even through the GFC), when they can borrow for one third the cost. The thinking in Finance and Parliament House is that while borrowing is much cheaper than tapping the fund they'll continue to do that. Further, the liabilities are not as unfunded as you think.

---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

Profile "REPLY WITH QUOTE" Go to top
 
ThePauk
Member Avatar
Diamond Member
Stinkbug
"The government created the future fund as a place to store spare money,"
No, it was created to pay for public super. Not a place to park spare money.

"you think"....lol

Carry on with your delusions...
Edited by ThePauk, 19 Sep 2015, 01:35 PM.
Profile "REPLY WITH QUOTE" Go to top
 
stinkbug
Member Avatar


ThePauk
19 Sep 2015, 01:34 PM
Stinkbug
"The government created the future fund as a place to store spare money,"
No, it was created to pay for public super. Not a place to park spare money.

Carry on with your delusions...
It was not. I know what it says.

I have also had several major govt departments, including Finance and Treasury, as clients for a number of years.

At the moment, sticking to the story of using the future fund for future liabilities means it stays where it is. And that suits everyone very well.

Believe what you want. But in this case you are wrong.
ThePauk
19 Sep 2015, 01:34 PM

"you think"....lol

It would be good if you actually did. It would make a nice change.
Edited by stinkbug, 19 Sep 2015, 01:40 PM.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

Profile "REPLY WITH QUOTE" Go to top
 
1 user reading this topic (1 Guest and 0 Anonymous)
ZetaBoards - Free Forum Hosting
Free Forums with no limits on posts or members.
Learn More · Register for Free
Go to Next Page
« Previous Topic · Australian Property Forum · Next Topic »
Reply
  • Pages:
  • 1
  • 9



Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.

Forum Rules: The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.

Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.

Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.

This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.

For more information go to Limitations on Exclusive Rights: Fair Use

Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ

Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy