Solutions for the Ageing Population

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Solutions for the Ageing Population by Mind Map: Solutions for the Ageing Population

1. Increase Retirement Age

1.1. More tax revenue and consumer spending

1.1.1. Economical This will inflate the economy as more money is being spent.

1.1.2. Legal The government will have more money to invest in the country and this will improve the standard of living.

1.2. Increases supply of labour

1.2.1. Economical This will increase the money going into the economy as more people are working and more money will be earnt.

1.2.2. Social Older people may be unable to work jobs such as manual labour due to health problems, this would affect individual's incomes etc. making them unhappy.

1.3. Highly unpopular with the public

1.3.1. Political The government would be going back on their word and this would cause a huge amount of people to be unhappy with them, which can cause uproar.

1.3.2. Social People would cause disorder as they were promised to retire at an earlier age and would then have to work for longer.

1.4. Limited workers in certain areas due to age

1.4.1. Social Elderly people will be less likely to take manual jobs which can cause an imbalance in certain industries.

1.4.2. Economical Due to the imbalance in certain industries, there would be an imbalance in the money coming from them too, which will impact the economy.

1.4.3. Technological However, if there are gaps in industries this could leave room for the development of technology, e.g. robots, to take the jobs. This could cause problems in the future, like a lack of jobs if the use of technology is increased.

2. Encourage Immigration

2.1. Reduces dependency ratio

2.1.1. Economical More workers in the country will produce more money that will end up contributing to the economy.

2.2. Higher tax revenues - more people paying taxes

2.2.1. Economical More people will equal more taxes being paid which means more money will be going into the economy.

2.2.2. Political This means that the government will be receiving more money to put into the the country.

2.2.3. Legal This is a legal standpoint because the government will be getting more money to spend on the country's infrastructure to help the increased population living in that country.

2.3. Places stress on stock of housing and other social issues.

2.3.1. Social People with less money will be unable to buy a house as the house prices will go up due to the high demand.

2.3.2. Environmental More resources will be needed as more houses will be built to account for the increase in residents, which will cause environmental problems.

2.3.3. Political This is a political problem as the government will have to make plans to cope with this dilemma such as making more raw materials available.

2.3.4. Economical House prices will increase due to high demand and impact the economy.

2.4. May increase cultural divides

2.4.1. Social This may cause the people living there originally to blame the newer population as there will be less jobs, housing and amenities which would cause a divide.

2.4.2. Legal The government will have to ensure to minimise cultural divides by implementing strategies like offering bilingual documents etc.

3. Increase Income Tax

3.1. May discourage people from living in a certain country

3.1.1. Legal The government will have less money to use if the population decreases and less people pay tax.

3.1.2. Social People may feel encouraged to leave and go somewhere cheaper to live.

3.1.3. Economical Less people paying tax means that the economy will suffer.

3.2. High opportunity cost of taxing for pensions

3.2.1. Economical More money will be coming from pensioners which will benefit the economy.

3.2.2. Political The government will have to manage this and make sure plans for the future are made.

3.3. Lower work incentives

3.3.1. Economical If less people work, less money will be contributed to the economy.

3.3.2. Social Less money will be earned and people in the population will look for alternatives such as moving away etc.

4. Encourage Private Pensions

4.1. Reduces government's pension burden

4.1.1. Social It will give people more responsibility over their money and will help the government.

4.1.2. Economical The government won't have to spend as much money on pensions.

4.2. Some people may not have sufficient private pension provision when they retire

4.2.1. Economical This would affect the economy later on as less money will be going into the economy from pensioners.

4.2.2. Social This will decrease people's quality of life when they retire as they will have less money to spend on leisure activities.

5. Euthanasia

5.1. Unethical

5.1.1. Social Introducing Euthanasia would cause uproar in the world as many would view it as an unethical solution.

5.1.2. Political The government would also be under fire for such a controversial scheme from the public, which would add to the chaos.

5.2. Violation of the Hippocratic Oath

5.2.1. Legal Many physicians would argue that practising euthanasia goes against the oath they have taken to uphold ethical standards and this could cause problems for the government.

5.2.2. Social Many of these people may take a stand against this if it were to be introduced.

5.2.3. Political The government would face a loss of workers if doctors decided to go on strike.

5.2.4. Technological If doctors wouldn't carry out these types of procedures this could leave a gap in the market for technology, like robots, to take their place.

5.3. Less money going into the economy

5.3.1. Economical Without the elder population, there would be less money being spent from their pensions and so the economy would suffer.

5.4. Take up less resources

5.4.1. Economical There would be more resources available to younger generations as there would be less people around.

5.5. Reduces dependency ratio

5.5.1. Economical Less money will be spent on people that don't earn money for themselves and so more money will go into the economy.

5.6. Increased burials can add nutrients to the soil

5.6.1. Environmental The nutrients from the decaying bodies will go into the soil and provide more fertile land for growing crops.