it has been argued that population aging has undermined economic development. evidence suggests that pensions, while making a difference to the well-being of older persons, also benefit entire families especially in times of crisis when there may be a shortage or loss of employment within households. a study by the australian government in 2003 estimated that "women between the ages of 65 and 74 years contribute a$16 billion per year in unpaid caregiving and voluntary work. similarly, men in the same age group contributed a$10 billion per year."