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.