De­mo­graphic threat to so­cial se­cu­rity sys­tem

Kathimerini English - - Focus - ROULA SALOUROU

The de­mo­graphic threat is evolv­ing into one of the so­cial se­cu­rity sys­tem’s big­gest, both in Greece and the Euro­pean Union in gen­eral.

The lat­est EU re­port on the bloc’s ag­ing pop­u­la­tion showed that the prospects are par­tic­u­larly con­cern­ing in Greece, as the cur­rent ra­tio of one over-65year-old for ev­ery three peo­ple of work­ing age will shift to 1:2 by 2040.

In 45 years’ time Greece will be dom­i­nated by the el­derly, as for ev­ery five peo­ple of work­ing age there will be three aged 65 or over.

Get­ting older

The baby boom of the 1950s and 60s, com­bined with the in­crease in life ex­pectancy, low birthrates and emi­gra­tion have re­sulted in a sig­nif­i­cant rise in the num­ber of peo­ple aged 65 and over while the num­ber in the 15-64 age group is fall­ing, not only in Greece but also across the bloc.

This de­vel­op­ment will have to be taken into ac­count in the draft­ing of fu­ture so­cial se­cu­rity poli­cies, with the in­tro­duc­tion of more mea­sures ex­tend­ing the age of re­tire­ment and en­cour­ag­ing se­niors to con­tinue work­ing.

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