UK. The longevity dividend: How to make the most of our ageing society
It is well known that the UK is ageing. In 1976, only 14 per cent of the population was aged over 65, today it is 18 per cent, and in 2036 it is estimated to be 25 per cent.
Over the same period, the median age is expected to rise from 34 to 43.
The economic implications are widely seen as dismal. Fewer workers will lead to falling GDP growth, while rising pensions and medical costs will push government debt ever higher. Ageing just seems a bad news story all around.
However, this ageing society narrative, while capturing very real and pressing challenges, misses some important and more positive factors.
The first is that, compared to our parents and grandparents, we are on average not only living but living healthier for longer.
That is surely good news economically. While not all those extra years are healthy, it is still the case that most of them are.
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