The "Demographic Timebomb"

[xoggoth]

Sometimes it is hard to know what to believe about anything when you get so many "facts" from both sides.

We are repeatedly told, for example, that we are facing enormous increases in health/care costs due to the increase in over 65s:

The prevalence of long-term health conditions increases with age; and according to a 2010 estimate made by the Department of Health, such conditions account for 70% of total health and social care spending in England. The Department of Health also estimates that the average cost of providing hospital and community health services for a person aged 85 years or more is around three times greater than for a person aged 65 to 74 years.

While that statement may well be true, there is a problem with assuming that, as more and more people reach 85+, the spending will rise proportionately. According to another source, and it appears to contain some reputable links, this is simply not true. Good health increases with life expectancy. Health conditions only become much more expensive to treat in the last few years of life, regardless of how old people are.

When measured using remaining life expectancy, old age dependency turns out to have fallen substantially in the UK and elsewhere over recent decades and is likely to stabilise in the UK close to its current level. It is not age but nearness to death that accounts for health expenditure.

Plus it is incorrect to assume that just because people are retired they contribute nothing. As that link says:

It is estimated that taking together the tax payments, spending power, caring responsibilities and volunteering effort of people aged 65-plus,older people contribute almost £40 billion more to the UK economy annually than they receive in state pensions, welfare and health services.3

Maybe also this bracket of "old" is over-generic. It is not the elderly in general who will be a burden, given that councils will seize significant assets to pay for care and many will pop their clogs long before they have been drained. It is the lowest performers in general, the ones who have taken more from the system than they have put in all their lives, who will not be able to pay for their own care. Perhaps the real problem is too much socialism.

[xoggoth]

PS And how many of you young fatties could dance like this for over an hour?

https://www.facebook.com/NordpoolenG...4513494298344/

[sasguru]

Wow rich people can support themselves in old age better than poor people. Who'd a thunk it?

[SueEllen]

The main issue to the ratio of old to young people.

You want more young people in work than old people drawing their pensions.

Why? To ensure there is enough tax paid into the pot to care for everyone regardless of age who needs it.

[xoggoth]

The main issue to the ratio of old to young people

Don't think (old/young) is a meaningful ratio in itself, the ratio we should be concerned is (not contributing/contributing). As that article says, many retired people do an awful lot supporting charities, local government work, working for The National Trust and other organisation that support our tourism trade, etc. I did hope that Camoron's "Big Society" would be partly about facilitating a greater contribution, directly helping the really frail with care perhaps. Fat chance.

The ratio can be best addressed by raising the retirement age in line with longevity and health. Also ensure that pensions are in line with the contributions made. Unfortunately previous, especially Tory, governments have tried to buy the older vote with policies like the triple lock and heating allowances given regardless of income. Maybe as well, we should get people into work sooner so they pay for their pensions. The high number of people going into further education when it is no benefit to themselves or the UK is absurd.

[shaunbhoy]

The high number of people going into further education when it is no benefit to themselves or the UK is absurd.

Exactly. Coercing the young and gullible into taking on excessive debt to fund worthless "Degrees" is criminal.

The range of meaningless and worthless Degree Courses is staggering.

New Liebour were mainly responsible for peddling this ridiculous concept, as indeed they were for all manner of crazy half-baked schemes.

Hanging is too good for them!!

[diseasex]

The main issue to the ratio of old to young people.

You want more young people in work than old people drawing their pensions.

Why? To ensure there is enough tax paid into the pot to care for everyone regardless of age who needs it.

Not entirely true.
In current system , there will always be money for pensions. The "pot" made by a working people is being paid out to elderly. If there's less people working, the pension will (or should) go down accordingly

[SueEllen]

Not entirely true.
In current system , there will always be money for pensions. The "pot" made by a working people is being paid out to elderly. If there's less people working, the pension will (or should) go down accordingly

I noticed how you put should in there.

If you search the newspapers the government are trying to pass a bill on the quiet to ensure defined contribution pensions - final salary to you and I - only go up by CPI if you are lucky. If you are unlucky they will freeze them for years.

This is the should.

[hugebrain]

many retired people do an awful lot supporting charities, local government work, working for The National Trust.

But the National Trust are evil Nimbys whose purpose is to prevent people from living in nice houses. Contributing to the genocide of the young and making the demographic problems worse.

Volunteering for them isn't something we should applaud.

[teapot418]

Drink more tea

10 health benefits of drinking tea - TODAY.com