Changing family structures and intergenerational transfers of time and money within families
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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 [email protected] www.adelaide.edu.au/apmrc.

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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

[email protected]

www.adelaide.edu.au/apmrc


Intergenerational family transfers
Intergenerational Family Transfers of Time and Money within Families

  • 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


Changing population and family structures
Changing Population and Family Structures of Time and Money within Families

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


Outline of the research
Outline of the Research of Time and Money within Families

  • 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


Respondent Family Typologies of Time and Money within Families

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


Age/Gender of actual sample and weighted sample of Time and Money within Families

Life Impact | The University of Adelaide


Respondent Household Structures of Time and Money within Families

Life Impact | The University of Adelaide


  • Giving of Time and Money within Families 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


Life Impact | The University of Adelaide


  • How Much of Time and Money within FamiliesTime is Given

Number of hours of practical help given per week by respondent age

Life Impact | The University of Adelaide


Amount of Time Given by Gender of Time and Money within Families

How much they give per week...

BUT females who do help give more time than males

Life Impact | The University of Adelaide


Life Impact | The University of Adelaide


Other factors influencing time transfers
Other Factors Influencing Time Transfers of Time and Money within Families

  • 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


Summary of time given and received
Summary of Time Given and Received of Time and Money within Families

* Only those respondents who gave or received

** Based on Australian Average Weekly Earnings hourly rate, $26.16

Life Impact | The University of Adelaide


The value of giving for the australian economy
The of Time and Money within FamiliesValue 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


Project Researchers: of Time and Money within Families

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

[email protected]

Life Impact | The University of Adelaide


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