Future of an Ageing Population
gs-16-10-future-of-an-ageing-population
gs-16-10-future-of-an-ageing-population
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Work<br />
<strong>Population</strong> ageing, combined with people retiring later, me<strong>an</strong>s that the average<br />
age <strong>of</strong> the workforce is rising. This will make older workers increasingly<br />
import<strong>an</strong>t to the UK economy. The combination <strong>of</strong> people living longer <strong>an</strong>d the<br />
ageing <strong>of</strong> the population will challenge the relationship between generations.<br />
Chapter 2 explores the full implications <strong>of</strong> demographic ch<strong>an</strong>ges on work,<br />
in the context <strong>of</strong> the other major demographic, cultural <strong>an</strong>d technological<br />
ch<strong>an</strong>ges facing the UK economy.<br />
Learning<br />
<strong>Population</strong> ageing <strong>an</strong>d increased life expect<strong>an</strong>cy are likely to ch<strong>an</strong>ge traditional<br />
thinking about learning. Longer working lives <strong>an</strong>d other ch<strong>an</strong>ges to the labour<br />
market will me<strong>an</strong> in the future workers will need to be more adaptable th<strong>an</strong><br />
they are today. Meeting this need will require suitable training for people<br />
throughout their careers. More broadly, evidence shows that life-long<br />
participation in learning c<strong>an</strong> improve people’s health, cognition, wellbeing<br />
<strong>an</strong>d resilience. The need to reduce the level <strong>of</strong> dependency in society me<strong>an</strong>s<br />
that learning, <strong>an</strong>d <strong>an</strong>y other tool for extending the period <strong>of</strong> time that people<br />
c<strong>an</strong> live independently, will be increasingly import<strong>an</strong>t in the future. Chapter 3<br />
explores the full implications <strong>of</strong> demographic ch<strong>an</strong>ge on learning <strong>an</strong>d training<br />
for people <strong>of</strong> all ages.<br />
Housing<br />
Demographic ch<strong>an</strong>ge will greatly increase dem<strong>an</strong>d for housing that meets<br />
the needs <strong>of</strong> older people. The suitability <strong>of</strong> future housing stock is import<strong>an</strong>t<br />
because unsuitable housing has a damaging effect on individual wellbeing<br />
<strong>an</strong>d is a major cost to the NHS. Higher life expect<strong>an</strong>cy is likely to me<strong>an</strong> people<br />
having longer periods <strong>of</strong> retirement <strong>an</strong>d, without improvements in healthy life<br />
expect<strong>an</strong>cy, longer periods <strong>of</strong> ill-health. Demographic ch<strong>an</strong>ge also affects how<br />
housing will operate as a fin<strong>an</strong>cial asset. Both have the potential to reduce<br />
housing assets in later life. Housing assets play a major social role in later life<br />
– funding retirement <strong>an</strong>d tr<strong>an</strong>sferring wealth between generations. Chapter<br />
4 explores the full implications <strong>of</strong> demographic ch<strong>an</strong>ge on housing, <strong>an</strong>d the<br />
wider neighbourhood.<br />
P25
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