Population change that result in growing elder population causes economic and social difficulties for many developed countries. The population may become unbalanced because of increasing life expectancy and decreasing birth rates. And this brings some advantages and disadvantages.
On the one hand, one of these challenges is that a smaller working-age population are required to support a larger number of retirees and placing a strain on pension system. Germany, one of the oldest populations in Europe, is a good example of this. With the development of the technology, people can live for a long time. German people must work for many years to retire, because the new generation is not large enough. Also, the government encourages retirees to continue working to balance the workforce. However, this system forces people to work intensely. This situation restricts people’s social life. This could be the reason for the low birth rates.
On the other hand, this demographic shift creates opportunities for some sectors. Germany is in the first place in elder cares. They are hiring more nurses and doctors, building new health centres, developing in health-care, elder care services and lifelong learning programs tailored to older adults. Therefor they enable retires to live a more comfortable retirement. In the other worlds, the development of this sector contributes positives to the economy.
In conclusion, although individuals are contributing to society during their working lives, they begin to rely on the working population when they retired. Therefore, governments should try the balance the population and provide good care for older people.