In the developed world, average life expectancy is increasing. What problems will this cause for individuals and society? Suggest some measures that could be taken to reduce the impact of aging populations.

The

aging

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ageing

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population is known as the global dominant demographic trend in the advanced economy.

This

tendency creates detrimental impacts on society and individuals, some possible solutions could be adopted to tackle the problem. The increasing longevity has caused many challenges and economic uncertainties. On the societal level, the large number of people reaching older ages poses a threat to the healthcare system. Because elderly people are more vulnerable to several chronic diseases,

such

as dementia, cancer or heart attack, special medical treatments and effective drugs are required to meet the increasing demand. The workforce shortages are ascribed to longevity in the developed world. Retirees tend to outnumber the new entrants in the job market which contribute to increased pension benefits. On the individual level, the increasing life expectancy causes a financial burden on young working adults who need to manage time and spend a lot of money on private healthcare for their older members. The young workers

also

pay higher taxes from the government due to the increasing social pension investment and declining revenues in the job market. To solve

this

worrying trend, several practical measures could be adopted. The

first

solution would be for the government to improve the healthcare system by investing money in medical facilities and improving services in hospitals, which could help reduce the burden on old-age support systems. Another measure would be to encourage the immigration of young working adults to mitigate the disparity between the ratio of working and retiring people in the

labor

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labour

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market.

Finally

, the government can impose a law to raise the retirement

ages

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age

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in order to encourage longer careers that can create more tax revenues to support

the

Correct article usage

apply

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public finance and reduce financial pressure on young adults. In summary, the

aging

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ageing

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population in many advanced economic countries causes several impacts on individuals and society, which could be addressed by the aforementioned solutions.