Thinking ahead is vital for ageing population

Published on 09/09/2012 00:00

I WAS very interested to read the article on ageing populations (‘Grey sky thinking’, Insight, 26 August). This is a subject we have been studying for 25 years as part of our research programme and we wholly concur.

When Bismarck established what is considered to be the first and model pension ­system in the 19th century it was to provide an income for those too old or too infirm to work. If we were to retire at the same stage of our lives today, ie, at the same age relative to our average life expectancy, then we should be retiring somewhere in our nineties.

Of course, Scotland is not alone in these issues and there are a number of measures that individuals, companies and governments around the world should undertake to address this challenge, lest vast numbers of people are left without a secure retirement. Central to this is thinking ahead, but it seems that all three groups have their heads well and truly buried in the sand – most worryingly, governments who must take the time to explain the fiscal and financial background and implications of this phenomena. An ageing population is in fact a real societal success story; one of longer lives and better health, we must ensure it doesn’t turn into a nightmare. Solutions to these issues and the global ­aspects of the crisis are ­covered in our recent research report, The Challenge of ­Global Ageing, which suggests a number of solutions.

Anthony Kennaway, Head of Communications, The Geneva Association, Geneva