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