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Changing Family Structures and Intergenerational Transfers of Time and Money within Families

Changing Family Structures and Intergenerational Transfers of Time and Money within Families. Helen Feist PhD | Deputy Director Australian Population and Migration Research Centre, University of Adelaide helen.feist@adelaide.edu.au www.adelaide.edu.au/apmrc.

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Changing Family Structures and Intergenerational Transfers of Time and Money within Families

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  1. Changing Family Structures and Intergenerational Transfers of Time and Money within Families Helen Feist PhD | Deputy Director Australian Population and Migration Research Centre, University of Adelaide helen.feist@adelaide.edu.au www.adelaide.edu.au/apmrc

  2. Intergenerational Family Transfers • Intergenerational familial support as social insurance • Assistance can take many forms • Changing societies, changing families and ageing populations are influencing the nature of family support between generations • Growing number of seniors now and into the future often seen as an economic and service burden…but what is the reality? Life Impact | The University of Adelaide

  3. Changing Population and Family Structures Proportion of Australian Population Aged Under 15 years and 65 years +, from 1901 to 2006 Declining Fertility rate + increasing life expectancy means more older people, fewer younger people The rise in the proportion of the older population is also indicative of a rise in lone person households in coming years Smaller families mean fewer sources of support for older people, particularly those living alone Life Impact | The University of Adelaide

  4. Outline of the Research • How much time is given to, and received from, different generations by older people and what is the economic value of this? • What demographic and socio-economic attributes influence the transfers of time and money between generations? • How much money is given to, and received from, different generations by older people? • What motivates the older generation to make time and/or money transfers? • What are transfers used for by the younger generation? • Are time and money substituted for each other and what influences the substitution? Life Impact | The University of Adelaide

  5. Respondent Family Typologies PANKS: Parents and No Kids PAKS: Parents and Kids, or the ‘sandwich generation’ KANPS: Kids and No Parents NoKPS: No Kids or Parents Life Impact | The University of Adelaide

  6. Age/Gender of actual sample and weighted sample Life Impact | The University of Adelaide

  7. Respondent Household Structures Life Impact | The University of Adelaide

  8. Giving and receiving practical help • 61% provide practical help to family members Median amount given, 5 hours/week/household • 30% receive practical help from family members Median amount received, 5 hours/week/household Life Impact | The University of Adelaide

  9. Giving or Receiving Time Transfers by Age Life Impact | The University of Adelaide

  10. How MuchTime is Given Number of hours of practical help given per week by respondent age Life Impact | The University of Adelaide

  11. Amount of Time Given by Gender How much they give per week... BUT females who do help give more time than males Life Impact | The University of Adelaide

  12. Who Gives Time by Income Life Impact | The University of Adelaide

  13. Other Factors Influencing Time Transfers • Children: respondents with no children were the least likely to both give and receive both practical and financial help • Siblings: a smaller proportion of people with no living siblings provide help to family members compared to other groups but... • Marital status: Respondents who were separated divorced were more likely to give practical help to other family members but.... Life Impact | The University of Adelaide

  14. Summary of Time Given and Received * Only those respondents who gave or received ** Based on Australian Average Weekly Earnings hourly rate, $26.16 Life Impact | The University of Adelaide

  15. The Value of Giving for the Australian Economy Approximately 36 Billion per annum is given in practical help to other family members by people aged 50 years and over in Australia, this compares to: • A national government annual expenditure on health  in 2010 of $21 billion; • The national government annual expenditure on education  in 2010 of $8.5 billion, or the • National government annual expenditure on defence  in 2010 of $19.4 billion. It can also be compared to: • Value of production in the mining industry: $25 billion • Value of retail industry: $14.6 billion (ABS Cat No. 5206 Table 6) Life Impact | The University of Adelaide

  16. Project Researchers: Lisel O’Dwyer PhD Helen Feist PhD Kelly Parker PhD Jennifer Buckley PhD George Tan PhD For more information regarding this project please contact: Dr Lisel O’Dwyer lisel.odwyer@adelaide.edu.au Life Impact | The University of Adelaide

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