This article will discuss some of the issues that a society faces when its population composition tilts heavily towards elderly. Primarily from the economics perspective, of course.

Health care

The most obvious and publicly most discussed; increased demand on health care: This has two main sides in supply and demand. With possible intervention from governments who get to dictate what falls under insurance schemes (thereby dictating part of demand) and potentially outlawing or approving procedures (which make up what the supply side offers). As people get older they get sicker, this is basic biology; the body cannot heal itself efficiently anymore, leading to a fairly standardised set of diseases. Nowadays we have pricey drugs and operation to mend most of these, leading to an extended life and increasing demand in health care.

There is also a minimum basic care provided by either next of kin or hired professional, this kind of care will be required until the patient dies. It is possible to either alleviate or industrialise basic care by putting someone in a old people home. This option depends heavily on where the elderly live and how rich their family is. Costs can quickly sky rocket, as some countries demand a contribution based on (paper) wealth, other countries do not demand such hefty fines for being alive.

Pensions/retirement and other benefits

Every retirement (or pension) scheme assumes that people live to a average age, which normally works fine because it is based on statistics, which take real world averages. This system fails when people, on average, live longer than the previous average age. This has been happening over the past decades, but not anymore, so this problem should solve itself. Simply adjust the numbers somewhere and all should be good.

But there is something else: Because overall population is getting older, fewer workers are able to pay fees contributing the these schemes*.

Taxes

Let us end on a positive note, for society as a whole, elderly are more able to continue some form of work (largely due to previously discussed health care). So are still able to make a genuine contribution to society. A small part is even able to continue working full weeks, a few decide to take it easier and work a limited number of hours. All these workers not only pay regular labour tax, they pay extra because of their other sources of revenue (earlier discussed schemes and pensions). A few more do something else, by volunteering. Even those that no longer actively contribute still do so by spending. Simply being part of the system means a great gross national product, which is a easy standard measure of how big/wealthy a country is.

Mobility

Someone who is older might still be able to drive, although that depends on the person and their individuals short comings. Most can still drive, just the really old (80+) have increasing difficulty. Public forms of transportation are where the problem lies; they are not only hard to get to (climbing stairs), but also change on a regular basis plus pretty unreliable (5+ minutes delays are normal). In the experience of your correspondent, it takes virtually nothing for them to change the schedule, leaving you out in the cold.

To meet the needs of all people, all stops need to be reachable without any difference in height, or a solution to the difference. Plus easily accessible information, that is not on a smartphone.

Housing

Everybody needs a place to stay, the problem is when new places to stay do not become available; in case of changing family composition. In such cases a problem arises for the whole of society. When someone becomes older they first need a small apartment, just to get started for a few years. Later they start a family, which requires a genuine house (this stage lasts several decades). At some point the family breaks up and the house they have lived in for many years becomes to big; at this point a smaller place needs to come into place, with some possibilities for modification (see earlier discussed medical needs), or built in assistance. If the latest stage in housing is not available, the earlier stages are not there either, this creating a bottle neck in supply.

It is possible to solve this supply shortage, but building takes years and is solely done for profit, so may not meet the actual requirements of people.

In the way

Older people not only walk or drive slower, they are also less flexible in both mind and body. Meaning that will block your relevant up-to-date ideas, whilst going for something wildly outdated. This is aggravated by the unfortunate fact that positions are based largely on seniority, so the older the more important someone is considered**. Elder members of a team, can still serve just fine in a advisory roll, where you can ignore them if needed, or simply as worker bees.

 

*The system should work in a manner where paid fees are invested and used for payouts. In reality all cash outflows are paid by incoming fees (the official claim is cost effective reasons, ulterior motives such as return on investment goals are possible). So less money received equals less money paid.

**We acknowledge that there is a wisdom based pro to this, that in itself may be outdated to when we as a species were still hunters and gatherers, instead of spoiled gluttons.