In Britain we’ve become accustomed to referring to the sections of our society by their ages in terms of generations. You will probably have heard the term Millennials. It is usually used in derogatory terms, to refer to those born between 1981 and 1995. The idea of defining generations began back at the start of the twentieth century. This documented the Lost generation, those born in 1883 to 1900 who were young enough to serve in the first world war. For the first time the UK is seeing what is known as an aging population. This refers to how there are more old people in society than there are younger.
What does this mean for the UK as a whole? It means that the burden on the provision of state pension and care for the elderly is raised. The current Greatest Generation, those who fought in the Second world war are now leaving us as they reach their 90s and 100s. The silent generation, those born between 1928 and 1945 are reaching their 80s and the Baby boomers, the most numerous group, are in their 70s and looking to draw their state pension as well.
As we live longer the pressure on care is most acutely felt. It’s why Care Jobs Gloucester way and throughout the country are needing to be filled. What this means is that the Generation X, The Millennials, the Zoomers and current Generation Alphas will all have to work longer to sustain these pensions and may have to look to provide their own privately.