The federal government has announced a $43 million program aimed at supporting older Australians to remain in the workforce.

The announcement came as treasurer, Wayne Swan highlighted the need for greater productivity and workforce participation with the release of the third Intergenerational Report.

The program will target retraining and reskilling as well as initiatives to help older people at risk of losing their jobs due to poor health.

“There has been a tendency in previous reports to present the ageing of the population only as a problem to be solved,” Mr Swan said.

“I prefer to focus on how we can best harness the life experiences and intellectual capital of older Australians.

“These are Australians who have already made a massive contribution to our nation. Their experience is invaluable.”

The government will also establish a consultative forum to conduct research and present positive messages about intergenerational attitudes.

The package has been welcomed by National Seniors Australia but the groups CEO, Michael O’Neill, said more needs to be done.

“Other measures should include tackling age discrimination, removing financial obstacles to staying in the workforce and providing incentives for employers to hire and retain older workers,” he said.