If we can’t ignore the economic challenges of an ageing population, realising the opportunities of ageing can help address these in maximising the opportunities for older people to work, earn, and spend, and to volunteer and care for loved ones.
This is in essence what the International Longevity Center UK (ILC) explained in its new report “Health equals wealth – The global longevity dividend“. The publication examines the social and economic impact of older people across the G20 economies and the opportunities to maximise this impact, namely by improving health in older age and prioritising prevention.
‘Older people’s social and economic impact is already significant, but there’s potential to increase this further, because some of the barriers to contribution that they face are avoidable – with the most important being poor health’, highlights ILC on its website.
The report was officially presented at a launch event on 12 October 2020 with the participation of European Commission’s Vice-President Suica (see her comment on Twitter below).
In a press statement, the UK organisation also calls for an Ageing Society New Deal in which G20 countries would engage on specific commitments around:
- Investing in health and recognising its economic value
- Supporting work in an ageing and changing world
- Recognising and helping to realise the opportunities created by the longevity economy
- Recognise and measure unpaid contributions
“It’s time to start treating older people not as the problem, but as part of the solution. Coming out of this global recession will rely on us better engaging workers, consumers, volunteers and carers of all ages”, states David Sinclair, Director, ILC-UK.
“The report is timely and provides valuable arguments for the upcoming Green Paper on Ageing, to be published by the European Commission in early 2021, to adopt a truly positive discourse and comprehensive policies on ageing. We also call for strong investment at European level in public health and supportive communities. This is crucial to foster the engagement of older people, to combat inequalities and to create an equitable society for all ages“, states AGE Platform Europe Secretary-General, welcoming ILC report.