Chris Horlick discusses the findings of the recent OECD report into rapidly ageing populations and asks what it means for long-term care funding.
We should not consider for a moment that the UK is unique in having concerns about its rapidly ageing population and how to pay for long-term care. The OECD has recently conducted a far ranging review of member countries who are all grappling with the consequences of rapidly ageing populations. The figures are stark. In 1950, less than 1% of the global population was aged over 80-years-old. By 2050, the share of those aged 80 years and over is expect to increase from 4% in 2010 to nearly 10% across OECD countries. The projected impact for government and private market spending...
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