Richer world populations, with low birth rates and small families are ageing populations.
Better health care and more advanced medicine allow people to live longer, increasing the proportions of elder people.
Older people in more developed countries tend to be wealthier, fitter, and have more free time to enjoy their wider interests.
The age group has the most expensive needs from their country, especially in terms of healthcare.
The very elderly, 85+ age group is growing fastest, putting particular stress on health and social welfare systems.
The Issues
Health Care
The demand for and cost of healthcare increases as more illness occurs in old age.
Compression of morbidity is where health costs are compressed into the last years or months of life.
They visit their GP more often.
They spend more time in hospital and have more appointments.
The government has to find more funding to support older people and this comes from taxing current workers.
Strain is put on healthcare resources.
Social Services
Elderly people need other services such as nursing homes, day-care centres and people to help them care for themselves at home.
These special needs put financial pressure on a country.
The Pensions Crisis
In wealthier, more developed countries, people expect to be able to retire from work and have a pension for the rest of their lives.
As there are more elderly people, and the proportion of working people decreases, taxes must increase to pay the pensions bill.
The (UK) state pension began in 1908 when male life expectancy was 67 and the retirement age was 65, so the average person would receive a pension for only two years. Today, state pensions still start at 65, but the life expectancy is 81 (2012).
The Opportunities
Younger retired people, in their later 60s and 70s, contribute a great deal to the economy as they are relatively wealthy and have lots of leisure time.
They spend money on travel and recreation, providing jobs in the service sector.
Many do voluntary work and some still do paid work, therefore paying taxes.
The power of the 'grey vote' is of great significance to political parties.
The 'grey pound'
The tourist industry e.g. cruising.
SAGA holidays provide a wide range of holidays and leisure activities.
Companies such as Homebase and B&Q employ this age group.
Support services such as 'meals on wheels', health visitors, home help, cleaners etc.
Ageing in the UK
In the UK, it is predicted that by 2050 the proportion of the population aged 65+ will have doubled.
UK life expectancy for people retiring is now 84 for women and 81 for men, and US researchers predict that people alive today will reach 150.
The percentage of the population aged 65 was 16.4%, the highest seen in any census (UK 2011), or 1 in 6 people.
There were 430,000 residents aged 90 and over in 2011, compared with 340,000 in 2001 and 13,000 in 1911.
More older people are giving up smoking than any other age group.
The number of pensioner deaths from heart disease has fallen by 1/3 in the last 10 years.
More elderly are having breast cancer screenings and 'flu jabs.
The current pensions system cannot be maintained, options include:
Pensioners become poorer relative to the rest of society.
Taxes and national insurance premiums devoted to pensions increase.
Average retirement age increased.
Increase the rate at which individuals save for retirement.
Ageing in the EU
Birth rates in the EU are very low and may decrease even more, in 2003 1.5 babies were born for every woman, but 2.1 are needed for a population to be sustainable.
Smaller families and later motherhood means that in each generation there are fewer parents, so fewer children are born.
Western European birth rates and higher than those in Eastern Europe, but Germany has the lowest birth rate in the EU.
The EU: A group of countries across Europe that work towards a single market, i.e. they trade as if they were one country, without any trade barriers.