An ageing population is often met with concern, but a leading population expert argues that this perspective overlooks significant opportunities. The expert emphasizes the need to embrace and capitalize on the potential of older adults, particularly those aged 50 to 70, who are described as a "massive cohort of healthy, active, older, creative adults." This perspective challenges the notion that an ageing population is a problem, instead presenting it as an opportunity for growth and innovation. The "silver economy," for instance, is highlighted as a potential area of development, despite concerns raised by pundits and pressure groups about falling fertility rates and their impact on the economy and healthcare. Prof. Sarah Harper, director of the Oxford Institute of Population Ageing, notes that two-thirds of the world's countries already have fertility rates below the replacement level, and the ageing of most populations is an inevitable trend. However, this trend brings positive aspects, such as the opportunity for every baby to be highly educated, healthy, and to live a long, healthy life. While acknowledging the challenges of an ageing population, such as the need for care for those living into their 80s and 90s, Harper emphasizes the main opportunity to capitalize on the increasing health and education of older adults. She advocates for creating new ways of living and working that enable the utilization of this massive group of adults, addressing the importance of retraining workers, flexible working, and shifting attitudes towards older workers. Official figures show that the UK population is growing, largely due to migration, but also ageing, with a projected 27% of the population aged 65 or older by 2072. The baby boomer cohort is particularly large, creating a population bulge that will significantly increase the numbers in the oldest age groups in the coming decades. However, younger generations are smaller and more similar in size, leading to a population structure that resembles a skyscraper rather than the traditional pyramid. Harper emphasizes the importance of providing high-quality, affordable childcare as a key to unlocking the potential of both younger and older adults. Despite efforts in Scandinavian countries to raise fertility rates, the expert suggests that supporting women who want to have children through good jobs, housing, childcare, and gender equality is crucial. However, she also acknowledges that there will always be a group of women who choose not to have children, and this needs to be accepted and worked with. Concerns over Covid, the climate crisis, and overpopulation may contribute to this decision, but other reasons, such as the perception of having children as not necessarily part of being an adult woman, also play a role. Harper argues that the idea of a country needing a high fertility rate is rooted in outdated views, and that high-income countries do not need babies. Instead, the focus should be on changing the economic structure, particularly in relation to pension systems. People aged 50 to 70 are seen as an "amazing resource" with valuable skills for a knowledge-based economy, and many are willing and able to work longer. Harper suggests that pension reform should be approached without disadvantaging people on lower incomes with poorer health and less education, potentially by linking the state pension to national insurance contributions rather than age. The expert draws parallels between the rise of women in the workforce and the potential for older adults to contribute to the economy, challenging the notion that an ageing population is a problem and instead presenting it as an opportunity for societal transformation.
