In the developed world, average life expectancy in increasing What problems will this cause for individuals and society? Suggests some measure that could be taken to reduce the impact of ageing population.

With the advent of modern technologies and breakthroughs in medical science, people tend to live longer life than ever before in the history of mankind. This is especially true in developed countries. This essay will discuss challenges faced by this increased life expectancy and also suggest solutions. To enbark upon, two of the major issues resulting due to this increased duration of living are strain on pension payments and additional burden on healthcare facilities. People tend to retire from their job by the age of 65 while, in most advanced economies, the average expectancy is around 80s. As a result, more and more people are relying on government support to pay their bills. Due to this, pension reserve is reducing at a rate never seen before. Another unavoidable consequence is, these elderly people require frequent and expensive medical assistance. Consequently, this causes longer wait times and frustrations for the individuals who are in urgent need for attention. To tackle these problems, encouraging people to save more for their retirement and increased budget of healthcare is crucial. Governments can run ad campaigns and provide tax incentives to the working employees to put aside a portion of their earnings into their retirement account so that they can be financially independent in their golden years without the need of government support. As far as medical care is concerned, authorities should boost its funding. In other words, greater financial support to these areas will ensure longer waiting times are kept in check, and people in need can get support when they need. To recapitulate, economically advanced nations should promote retirement savings and raise their healthcare spending to counter the problem faced by pension funds and the healthcare system due to people's increased lifespan.