Human Resource Management Report: Australian Retirement Policies

This report delves into the intricacies of Human Resource Management, with a specific focus on employment and retirement policies in Australia. It begins by highlighting the recent changes in retirement policies and the increasing trend of individuals opting for retirement, along with the rise in workforce participation among older Australians. The report then outlines the existing employment policies and the proposed reforms aimed at adjusting the retirement age. It underscores the need to amend the employment and retirement policies to address the growing elderly population. The report then lists various aspects of the topic which includes the impact of the aging population, the impact of retirement plans on employment, the role of nursing in retirement, the impact of wages, and the health issues on retirement savings, and the need for transformations in retirement policy. The report also references several sources including Treasury.gov.au and the Australian Institute of Health and Welfare to support its analysis.

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Running Head: HUMAN RESOURCE MANAGEMENT
HUMAN RESOURCE MANAGEMENT
EMPLOYMENT AND RETIREMENT POLICY

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HUMAN RESOURCE MANAGEMENT
Introduction
Australia recently took over flexible rules for retirement policy. The people at large have been observed
to opt for retirement at their eligible age for gaining age pension. In 2017, about one in seven Australians
was observed to lie in the age group of 65-67 years. Retirement Policy is a section in the Insurance Plan
which is designed with an intention of meeting the post retirement financial needs (Boot et al. 2019). For
2018, the data revealed some new and different figures as Australians aged 65 and above had a workforce
participation rate of 13% which was 6% in 2006 (Older Australia at a glance, Employment &
economic participation - Australian Institute of Health and Welfare, 2020). Employment Policy
is a set of rules and regulations which is to be followed and implied on all the employees’
irrespective of their job description or post they hold (Fagan & Rubery, 2018). Government has
taken up some new reforms to be implemented in the coming years and if those implementations work in
as planned than by 2035, the Age Pension age would be 70 years (Treasury.gov.au, 2019). The gender
equality and other factors needs to be amended for providing each candidate with a justified and authentic
pension schemes. Australian employment and retirement policies require some amendments because of
the increasing number of elderliness in the country.
The Ageing Force
The Patriotic Retirement Plan
Increasing old age population and its impact on nursing in Australia
Impact of Pensions and Earnings on Retirement
Impact of Retirement Plan on the Employment Data of Nursing
Role of Nursing in Retirement Concern
Mandating Retirement Provision: An Australian perspective

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HUMAN RESOURCE MANAGEMENT
Superannuation: comparing historical data with the present one
Future of Superannuation in Australia
Changes required in Employment Plan as per Nursing perspective
Role of wages in Employment Plan impacting Retirement Policy
Impact of health issues on retirement savings
National Retirement Savings System in Australia
Transformations required in Retirement policy of Australia
Employment Plan to be reframed

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References
Treasury.gov.au (2019). Retrieved 14 April 2020, from
https://treasury.gov.au/sites/default/files/2019-03/CP93_3.pdf
Older Australia at a glance, Employment & economic participation - Australian Institute of
Health and Welfare. (2020). Retrieved 14 April 2020, from
https://www.aihw.gov.au/reports/older-people/older-australia-at-a-glance/contents/social-
and-economic-engagement/employment-and-economic-participation
Fagan, C., & Rubery, J. (2018). Advancing gender equality through European employment
policy: the impact of the UK's EU membership and the risks of Brexit. Social Policy and
Society, 17(2), 297-317.
Boot, C. R., Scharn, M., van der Beek, A. J., Andersen, L. L., Elbers, C., & Lindeboom, M.
(2019). Effects of Early Retirement Policy Changes on Working until Retirement:
Natural Experiment. International Journal of Environmental Research and Public
Health, 16(20), 3895.

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HUMAN RESOURCE MANAGEMENT