General News
10 February, 2026
Retirement angst
THE rapid growth of Cairns as an ‘enterprising city’ is creating strong opportunities for business while exposing emerging risks linked to retirement, workforce capability and wellbeing.
KPMG has rated Cairns an enterprising city, with a June 2025 report indicating around 16,000 jobs are expected to be created over the next five years. The report also shows more younger, working-age people are moving to the region, alongside significant growth in the 65-plus population, including around 2500 people in 2024.
Former federal member Warren Entsch, who retired from politics in March 2025 after nearly 30 years, said the figures highlighted both promise and pressure for local employers.
“With opportunity comes significant risk,” Mr Entsch said.
“When valuably skilled employees retire, their mastery leaves with them.”
Mr Entsch said his own experience of retirement had been confronting, despite his financial security.
“I could have a billion dollars sitting in the bank and still be unhappy and be absolutely miserable,” he said.
“It’s got absolutely nothing to do with my financial security. It’s all to do with loneliness, relevance and irrelevant syndrome. Where do I fit in now and what can I do that matters?”
He said businesses needed to rethink how they managed late-career employees, including creating mentoring or reduced-hour roles to retain skills while supporting apprentices and trainees.
“That’s why I wish I could do a couple of days a week as a mentor, helping with transferring 30 years of knowledge,” he said.
Human-centred retirement educator Dr San (Sandra Walden Pearson) said retirement planning was often treated solely as a financial issue, overlooking psychological and social well-being.
“We spend decades financial planning for retirement and that takes work,” Dr San said.
“But there is a recognised phenomenon called the dark side of retirement that often isn’t realised until the farewell party is finished and the honeymoon is over.”
Dr San said work provided identity, purpose and social belonging, which could disappear abruptly after retirement.
“All of a sudden people think, what am I doing, what’s my sense of purpose?” she said.
She said Cairns faced a unique challenge, with an influx of both apprentices and retirees, making workforce planning critical.
“We need to hang on to the masters until the apprentices get to the point of being able to replace their mastery,” she said.
Dr San said human-centred retirement education could help employees and employers plan earlier, support wellbeing and maintain enterprise capability as Cairns continues to grow.
More information about human-centred retirement education is available at: www.bit.ly/3ZqyJuC.
