Due to increasing life expectancies and decreasing birth rates, most countries are seeing ageing populations which bring both challenges and opportunities. While the extraordinary rise in life expectancy over the last century should be celebrated as one of humanity’s greatest achievements, the challenge comes in how states and individuals would fund retirement, as this added strain is placed on their tax and welfare systems.
With the baby boomer generation easing into retirement, the UK could face a shortage of labour, despite popular hype about automation and AI taking away the need for human workers. But herein lies the opportunity of an older workforce. Through inclusive policies and practices that make work friendly for the ageing workforce, we can extend working lives meaningfully and benefit from the talents of older workers.
While these findings are based on UK data, the broader trends and implications should be of interest wherever you are based.
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