An ageing population can bring economic, political and social advantages as well as disadvantages’

Topics: Retirement, Gerontology, Ageing Pages: 3 (885 words) Published: April 3, 2014
‘An ageing population can bring economic, political and social advantages as well as disadvantages’ (15 marks) The world’s population is growing older. There will be higher numbers of elderly people, a larger share of elderly, longer life expectancies, and fewer numbers of working-age people than dependent people. An ageing population does raise some challenges, but they are not all bad. It also brings new opportunities, because people have longer, healthier lives, resulting in extended working years, this being just one example of an opportunity faced by an ageing population. The key to an ageing is adapting to the challenges that a country could face. One economic disadvantage of an ageing population is the concern about working. An Ageing population has a direct impact on the labour market, since improvements in life expectancy could result in many remaining in work longer. However changes in employment have an impact on pension schemes and the pension schemes in turn affect the decisions made by workers to retire or remain working. There is a relationship between those who are independent (18 to 64 years old) and those who are dependent (aged 65 and over). With an ageing population there are fewer and fewer people in the working age group able to provide support for the dependent people. The problems of an ageing population go together with growth in the working market. Senior citizens who choose to remain working and wait to retire create additional income which will contribute to their pensions. However many employers tend not to like older people to carry on working when there are younger people who are willing to take their place. An economic advantage of an ageing population is that it offers many opportunities for the economy to respond to the needs of older people and elderly people will want a change in the consumer market directed at them. As elderly people have more time on their hands and a family they will spend more money on grandchildren,...
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