Using data featured in the expert testimony delivered at the 2015 Future of Ageing conference, this report describes the future challenges and opportunities posed by an ageing population.
What might the future of ageing look like? Will we live longer, healthier and wealthier lives, or will there be too little for too many?
On Tuesday 24th November 2015, the International Longevity Centre – UK hosted the first annual Future of Ageing conference. The conference brought together representatives from Government, business, academia and civil society to outline the challenges and opportunities posed by a rapidly ageing society, and to discuss how best to confront them.
Using data featured in the expert testimony delivered at the conference, in the guest blogs written for our Future of Ageing series, and research and analysis from the ILC-UK, ‘Tomorrow’s World: The Future of Ageing in the UK’ describes the future challenges and opportunities posed by an ageing population.
The report argues that our society is not adequately responding to ageing today. Instead:
- The social care system is crumbling and health care is failing to incentivise the prevention of ill health.
- The housing and planning system is failing to respond to ageing, resulting in people living in housing which does not meet their needs.
- Individuals are currently underestimating their life expectancy and risking running out of money in retirement.
The report emphasises that without action today, the picture in 10 years time could be much worse. The report predicts that average pensioner incomes will start falling as more people retire with a less generous state pension and without the benefit of final salary pensions.
If urgent action is not taken to address the challenges posed by population ageing, the ILC-UK presents a future in which health expenditure has increased debt as a proportion of GDP to 180%; more than 1 million additional care workers are required to meet the demand for social care; and millions have failed to save enough ahead of retirement.
Read the full report here