The cost of our ageing society: This report, sponsored by Milliman, highlights the projected financial impact of the cost of the world’s ageing population. It particularly examines spending on healthcare, which in the UK is
projected to see the largest rise of all elements of age-related spending; rising from an annual cost of 6.8% to 9.1% of GDP between 2016/17 and 2061/62. This total rise of 2.3% of GDP is equivalent to a rise of around £36bn in today’s money. It calls on governments across the world to consider linking eligibility ages of state pension to life expectancy and do more to ensure that the labour market is accessible to older people. It also urges governments to consider how to create better conditions for health care innovation and development.
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