The country I have studied is the UK which is an MEDC in Northern Europe. An ageing population is where the country has an increasing average age of the population together with an increasing proportion of people over the age of 65. In 2014, for the first time in the UK, there are more people aged over 65 than 16 and with the rising life expectancy this creates many challenges for the UK economy and society.
Firstly, with the rising life expectancy which is currently at 81, there have been implications on health as in 2002 it was said that males spend 15 years of their life with a disability and females spend 17.5 years which is an increase in years compared to 1981. This is causing strain on the NHS as for them to cope with the increasing years of disabilities and increasing heart disease, cancers and diabetes. Social services also have extra strain and pressure which has to be coped with. It is proven that the elderly visit their doctor more often and have more home visits. They also occupy hospital beds for longer and the government of a country has to find money to pay for this care.
However, by having an ageing population, businesses such as BUPA who provide private healthcare insurance are striving as the elderly are regarded as good business and an opportunity for firms to grow. Therefore, they are helping enhance the economy.
Another benefit for the UK is that many UK seniors still do part or full time work as a way to keep themselves active and to supplement their pensions. Retired people are useful for companies as they can work flexible hours and do not carry costs such as National insurance. They could then use the benefit of their experience and knowledge to fully benefit society as for far too long older people have been undervalued in modern society. Many retired people also do voluntary work in schools and for charities that is essential work