Report: Preparing for an ageing society, House of Lords Economic Affairs Committee
- The failure of successive governments ‘to focus on the issues raised by an ageing society’ will hit young people hardest, a report concludes.
- Discussions have focused ‘too much on the issues faced by old people today’ and not enough on young people who are likely to live longer.
- Today’s young people ‘will need to retire later and save more’, and ‘the government should consider an education campaign’ on this.
- It should ‘find out if the UK’s financial services sector is suitably organised to provide for the [now young] population as it ages’, the committee recommends.
- The government must also now ‘prioritise measures to incentivise people in their mid-50s to mid-60s to remain in or return to work’, while urgently addressing the ‘scandal’ that is the ‘crisis in adult social care’.
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