Rising costs is just one of the issues that are likely to emerge in light of an ageing population, recent research from the OECD suggests.
The group found that benefits need to be sufficient to maintain a standard of living in old age, while policy action must be taken to ensure people are able to meet living costs.
Pensions at a Glance 2013 explained that the majority of OECD countries will have a retirement age of at least 67 years for both men and women by 2050.
Compared to current levels, this represents an increase of around 3.5 years for men and 4.5 years for women.
As a result, Australians are likely to seek ways of reducing their outgoings wherever possible, such as by applying for a Medicare rebate or other means of lowering the cost of healthcare.
OECD secretary general Angel Gurria emphasised: "Governments need to consider the long-term impact on social cohesion, inequality and poverty.
"Ensuring everyone has a decent standard of living after a life of work should be at the heart of policies."
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