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Aging population - Coggle Diagram
Aging population
- Retirement age has been increased to keep more people working.
- UK has raised the retirement age to 67 from 2028 onwards.
- A falling birth rate means services for childern such as schools might close
- Increases umemployment for those employed in those sectors.
Also, some childern are looked after by grandparents in order for parents to work and contribute towars the economy by paying taxes
- In the future, less childern will enter the working population resulting in diminishing workforce.
- The country will struggle to compete in the global market meaning the economy suffers.
- Migration encouraged to increase the working population
- Can lead to social issues and tensions
- More services for elderly will need to be built e.g care homes
- More spending on funding geruatric services to cope with higher rates of age-related conditions e.g dementia
Some companies actively employ older people as they think they are more skilled and have more life experience so will be better workers
- Cost of pensions increased to the government
- working populations tax contributions may be increased to help cover cost.