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Centre for Policy on Ageing | |
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| The cost of our ageing society | | Author(s) | Daniela Silcock, David Sinclair |
| Corporate Author | International Longevity Centre UK - ILC-UK |
| Publisher | International Longevity Centre UK - ILC-UK, London, December 2012 |
| Pages | 27 pp |
| Source | ILC-UK, 11 Tufton Street, London SW1P 3QB. Download from: http://www.ilcuk.org.uk/index.php/publications/yea... |
| Keywords | Ageing process ; Costs ; Costs [care]. |
| Annotation | Populations are ageing in countries across the world, and the proportions of older people relative to working-age people are growing. In the UK, the old-age dependency ratio is expected to rise from around four to fewer than two people of working age for every person aged 65+ between 2010 and 2060. Shifts in the proportion of older people to working-age people have ramifications for state spending on pensions, health care, long-term care and unemployment benefits. This briefing reviews current global projections of the cost of ageing over the next few decades, and draws on the European Commission's 2012 Ageing Report and the Office for Budget Responsibility's Fiscal Sustainability Report, July 2012. It looks at the macroeconomic factors that affect the costs of ageing, and the projected costs of an ageing society including age-related expenditure. While being mindful of the fiscal problems, governments must recognise older people's contribution to society and the economy when considering policy interventions. Policies must focus on enabling active, healthy ageing, and not just tackling the costs of ageing. Milliman LLP sponsored this report and a "cost of ageing" event at the Actuarial Profession in October 2012. (RH). |
| Accession Number | CPA-121211001 E |
| Classmark | BG: WC: QDC |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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