Independent Living Units: Underfunded and Misunderstood

Australia has an aging population with diverse backgrounds and experiences; 37 per cent of older Australians were born overseas. Historical and contemporary privileges and disadvantages have impacted different Australians’ ability to gain and maintain employment, accrue savings, build financial literacy, contribute to superannuation, own property and prepare for a secure, enjoyable retirement in later life. This means there is great variation in the incomes and assets of older people, therefore their ability to access retirement accommodation options that suit their needs; financial, physical, mental, emotional, and social.