What does the future look like?
‘The future ain’t what it used to be,’ someone said. They have a point.
We know we are living longer and that we have an ageing population – so in the future more of us will be older. The dependency ratio (the number of people working versus the number of retirees the tax base supports) is changing. In a nutshell, under the current system, a smaller number of working people will be supporting a bigger group of retirees.
We need to have some hard conversations as a society about how this is all going to work, and who’s going to pay for what.