Effects Of Demographic Ageing

1113 Words5 Pages
While this research paper is written with an intent to highlight the factor of demographic age bomb in UK, it is now necessary to analyze the situation of demographic ageing and its impact from the socioeconomic level.
One major factor that rose out from the issue of demographic age-bomb is the imbalance between the young and the elder generation. With the decrease in the rate of fertility and increase of elderly in the society [the ratio which is expected to surge], many of the elderly generation has to get dependent on the youth generation. Here, the dependent elderly is referred to those who are unable to work for health crisis, psychological issues in the old age. These elderly usually leads their post-retirement age in home by depending
…show more content…
The inequality among people is rising and there is no such directive to manage the situation. The treatment of inequality will not only be felt by the elderly but also to the younger generation. The crisis will also put impending pressure to the government to maintain economic prosperity during the time of globalization. The increased employment of the elderly people have also raised concern on the productivity of the employees. In the age of rapid technological growth, many of the elderly generation are unable to keep pace with the market movement. They mainly stick to the archaic pattern of working and the differences in age within an organization has led to discrimination in a working environment. For instance, if the manager of an organization is young and other workers being old, there becomes a strong gap between the acceptance of an understanding or the overall work…show more content…
While there is an increased participation of the elderly generation in the labor workforce, there are also a significant number of elderly who were deprived of a job in old age or retired from the service due to physical inability. This group of people who have economic insecurity due to inactiveness comprises 29% of the population [50 – 64 years]. It is also estimated that 12% [approx.] of the population that falls in the said age either have taken retirement from the service. Some of these retired elderly are self-employed and some are working to maintain their family. As per the overall labor market in 2013, the number of employed elderly that are aged 65+ counted to 9.5% and the number of inactive elderly constitutes an average of 90%(UKGOVT, 2013). This staggering rise of elderly as inactive generation gave rise to the elderly-dependent generation. The economically insecure elderly have no other option but to remain dependent on the younger generation in the family for their sustenance. These groups are mostly involved to do household and childcare activity in a family. Furthermore, the increase of spending behind healthcare also adds a major factor for the elderly and the youth who has to support the elderly. Looking at the cost to maintain housing and family, a survey made by ONS (2013) revealed that people spends at an average of £147.90 per week on housing, £145.40 is spent
Open Document