Fabian Demicoli

Ageing Report : Europe needs to prepare for growing older

 The age profile of the EU is expected to change dramatically in the coming decades, according to the EU's latest Ageing report that was published on 15 May. The EU population will in 2060 have slightly risen from 502 million of 2010 to around 517 million. And it will be much older. According to projections, by 2060 nearly one in three citizens will be aged 65 or over while the share of those aged 15-64 will decline from 67% to 56%.

As a consequence, the EU will move from having four people of working-age to each person aged over 65 years to about two people of working-age. The decline in the workforce will act as a drag on growth and per capita income, and will put pressure on public finances in the EU. However, the report shows a large diversity across EU Member States, depending notably on progress with pension reforms.

 

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