Shocking figures show that…
“By 2034 twenty-three per cent of the UK population is projected to be aged 65 or over – within which an estimated 3.5 million will be the ‘oldest of the old’, that is, aged over 85. Led by the mass retirement of the ‘baby boomer’ generation, the next decade is likely to see significant social, economic and political issues emerge in an effort to address the effects of this key change in the structural composition of the UK population.”
…according to Third Sector Foresight as the life expectancy is rising in the UK and birth rates are dropping causing this ageing population. This will cause many problems as this web article explains, one being…
“In the longer term, especially as baby boomers become the ‘older old’, there will be a rise in demand for health services and long term care, possibly combined with constrained public spending, creating a challenge for the funding of public services and pensions and increasing pressure on families and friends to support retirees”
This may cause further damage to the economy as more people will want more money as part of their pensions. Also the projections show that people are less likely to die these days because of technological,medical & science advances such as improvement in cancer care, child birth procedures, elderly care (care homes etc), emergency services, etc.
All this may cause stress on our economy. However, it is a good thing to be getting all these new medical advances, because this will increase life expectancy and also lead to a healthier life.
