![Advantages and disadvantages of retiring population Advantages and disadvantages of retiring population](https://digitalteachers.co.ug/wp-content/uploads/2022/09/Bbosa-Science.png)
Advantages and disadvantages of retiring population
Advantages of retiring population
- Retiring population created demand of greater demands for health care services and retirement homes.
- Provides labour for care takers
- An ageing population could lead to a shortage of workers and hence push up wages causing wage inflation
- they increase their own capacity to consume products of all kinds and purchase a diversity of services
- provide counselling services
- provide labour to coffin makers and burial services when they die
Disadvantages of retiring population
- Put pressure on pension schemes
- Increase government health costs
CATEGORIES Economics
TAGS Dr. Bbosa Science