INDIVIDUAL VERSUS POPULATION AGEING: Individual ageing: There is “chronological ageing”, “normal ageing” and “pathological ageing”. Population ageing: This occurs when the % of elderly in a population increases from 3% to about 25%. Due mainly to declining fertility (low birth rates).

What is an ‘ageing population’ — a definition. An ageing population is one where the proportion of older people is increasing. This is also known as ‘demographic ageing’ and ‘population ageing’. The size and proportion of the global population as relates to age over time.

The standard indicator of population aging is the old-age dependency ratio (OADR). It takes the number of those who have reached the state pension age and divides it by the number of ‘working age’ (16-64 years) adults to measure the dependent elderly population relative to those who pay for them.

Solutions for the Ageing Population

1. Increase Retirement Age. 1.1. More tax revenue and consumer spending. 1.1.1.
2. Encourage Immigration. 2.1. Reduces dependency ratio. 2.1.1.
3. Increase Income Tax. 3.1. May discourage people from living in a certain country. 3.1.1.
4. Encourage Private Pensions. 4.1. Reduces government’s pension burden.
5. Euthanasia. 5.1. Unethical.

An aging population and slower labor force growth affect economies in many ways—the growth of GDP slows, working-age people pay more to support the elderly, and public budgets strain under the burden of the higher total cost of health and retirement programs for old people.

Economic growth. This decline in economic growth will increase the pressure on public finances from an ageing population. Strong economic growth, increases tax revenues and makes it easier to fund pension commitments. But, in recent years we have seen stagnant wages and a decline in real incomes of young people.

Among the benefits of an ageing, shrinking population, the new article lists: Rising wages for workers and higher wealth per capita. Less crowding and reduced stress in populated areas. Greater protection of green spaces and improved quality of life.

The social benefits of an ageing society Rising wages for workers and higher wealth per capita. Less crowding and reduced stress in populated areas. Greater protection of green spaces and improved quality of life.

Simply put, population aging will contribute to a large increase in future levels of government spending. The estimates in the paper of debt accumulation by Canadian governments range between 170 percent and 250 percent of GDP. These rather worrying fiscal outcomes are not inevitable.