What are the biggest problems of an ever-increasing elderly population and what can we do to solve them?

In the past 100 years, our lives have changed dramatically, due to the technological evolution. Nowadays, the life expectancy has risen to an all-time high, with the help of our modern advancements. But, at the same time, this has increased the percentage of elderly people in the population. In this essay, I will discuss the problems and solutions to this trend. Firstly, older people, because of their age and their area’s legislation, cannot work and provide a pension. However, this leads to a decrease in the workforce, with detrimental consequences to the country’s wealth. To illustrate, a study carried out by the University of Cambridge, showed that, for every person that stops working in Greece, due to their age, the country loses more than five thousand euros per year, in taxes. Moreover, this trend leads to an overflow in hospital capacity, which requires government to fund them even more. Taking the above into consideration, there is a plethora of negative effects in the economy, because of this tendency. Nevertheless, there are some ways to alleviate these repercussions. One way to reduce the consequences, is by increasing the retirement age. This can be achieved by lowering the working hours. As a result, the individuals will still be paying taxes and offering to the society. For example, in Japan, where this was applied, in a span of ten years, the economy had an upright figure of more than 1. 2%. Furthermore, the government should encourage younger couples to have children, increasing the younger population and bringing a balance to the nation. In summary, this movement has a wide range of cons and some solutions as well. But, it’s our responsibility to take this matter into our own hands, in order to ensure our nation’s prosperity.