The population in most parts of the world is ageing; people are living longer and there are fewer younger people in many places as birth rates fall. This phenomenon has pros and cons, but this essay will contend that, on balance, the advantages of having an older population outweigh the negatives.
The first issue that occurs to many people when considering the ageing population is the expense. If people live longer, they may have more than 30 years of retirement and may need to be supported financially by the government or their families. If they experience age-related illness, this impacts the health system and takes up resources needed by other people in society. What’s more, when older people are financially independent, it might be hard for younger people if they have to compete to get a foot in the door of the housing market or gain employment.
That being said, older people have a lot to contribute in terms of wisdom, experience and skills. Many people are active and productive for longer than their counterparts were 50 years ago and are an asset to the economy and society well into their old age. They are able to work for longer and after retirement they contribute in many ways too, such as by doing charitable work, spending money as consumers and supporting their families. Grandparents often care for their young grandchildren, making it easier for both parents to work.
While it is true that an ageing population poses challenges for governments, it is clear that these are outweighed by the significant benefits that elderly people bring to society.