NEWS:

Application deadline - 8am, Monday 12th September

The ILC-UK is an independent, research led, think tank dedicated to addressing issues of longevity, ageing and demographic change. Based in the heart of Westminster, much of our work is directed at the highest levels of government in London, Europe and internationally.

We are looking for an organised and proactive Office and Events Coordinator (Maternity Cover) who has experience both coordinating events and office administration. In return, you will gain valuable experience on a range of assignments: from coordinating the preparatory work for a high profile annual event, to independently managing the delivery of events in Europe, the UK and the Houses of Parliament; you will have real responsibility from week one.

You must have excellent communication and writing skills, with a high level of attention to detail. A good awareness of policy and politics would be advantageous. Candidates should have high standards of written and spoken English, and an ability to liaise with the suppliers, funders and general public alike. You should have a good understanding and interest in the work that the ILC-UK undertakes (www.ilcuk.org.uk).

Alongside coordinating our events programme, we are also looking for candidates who can ensure the smooth running of the ILC-UK office, from liaising with equipment suppliers, maintaining office equipment and liaising with the landlord, to monitoring annual leave, ordering stationery and arranging travel/ accommodation for staff.

The role will help to ensure that the office is running smoothly at all times and staff are provided with administrative support. It will ensure ILC-UK’s work reaches its target audience, through events, social media dissemination or engagement with parliamentarians and government. We are small enough for the successful candidate to have a major impact on our work but big enough to attract national media and political attention.

You must have a good knowledge of Microsoft Office programmes (MS Word, Excel, Outlook and PowerPoint). Knowledge of Mailchimp and Eventbrite would also be advantageous. We are looking for someone who has a flexible attitude, who is comfortable working in a small team and who is able to learn quickly and adapt to new tasks with ease.

Personal Specification

  1. Essential: Experience of coordinating events and office administration.
  2. Essential: Good administrative skills.
  3. Essential: Ability to work independently in a highly-pressured environment and to tight deadlines in a small team.
  4. Essential: Strong written and oral communication skills.
  5. Essential: IT literate including Microsoft Office.
  6. Essential: Experience dealing with confidential matters.
  7. Essential: Experience of dealing with credit/debit card payments and petty cash.
  8. Essential: High level attention to detail.
  9. Desirable: Budgeting experience.
  10. Desirable: Worked in the Charity sector.
  11. Desirable: Experience of running events for parliamentarians, civil servants and policy makers.

Send a (maximum) two page CV and (maximum) one page covering letter to the Office and Events Manager at info@ilcuk.org.uk ensuring that the name of the position appears in the email subject field.

Hours
5 days a week, 35 hours (flexible depending on candidate)

Application deadline
8am, Mon 12th September

Duration of contract
12 months

Interview date
Thurs 22nd September 2016

Salary
£25,000 per annum (pro rata if part-time)

Start date
Tues 01st November 2016

Place of Work
Normal place of work will be at the International Longevity Centre - UK (ILC-UK) in Westminster, London.

Please click on the below link to review the full Job Description for this position.

Documents:

Job Description - Office and events Coordinator (Maternity Cover) (PDF)

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The Rt Hon. Stephen Dorrell, Chair of the NHS Confederation and former Secretary of State for Health and former Chair of the Health Select Committee, and Dwayne Johnson, Director of Adult Social Care, Sefton Metropolitan Borough Council have agreed to join our fantastic list of speakers at the Future of Ageing conference.

Dr Margaret McCartney, GP, author and regular contributor on Radio 4’s Inside Health, will also present at the conference. Dr Islene Araujo de Carvalho of the Department of Ageing and Life Course at the World Health Organisation will also focus on health and care issues, taking a more global perspective.

Conference attendees will also hear from:

  • John Cridland CBE, Head of the Independent State Pension Age Review
  • John Pullinger CB, National Statistician, UK Statistics Authority
  • Professor Sarah Harper, Director, Oxford Institute of Population Ageing
  • Linda Woodall, Director of Life Insurance and Financial Advice, and sponsor of the Ageing Population project, Financial Conduct Authority
  • Jonathan Stevens, Senior Vice President, Thought Leadership, AARP
  • David Sinclair, Director, International Longevity Centre - UK
  • The Rt Hon. the Lord Carey of Clifton, Archbishop of Canterbury 1991-2001

Join as at the Future of Ageing Conference on Wednesday, 9th November. Our Earlybird prices must end on 31st August, so sign up now to take advantage of this special discounted rate.

 

  • The UK is home to some of the world’s leading innovation in healthcare but we can learn from successes in USA, India, Australia, Africa and Europe
  • ILC-UK urge health leaders to work to ensure that the £22bn savings being asked of the NHS act to stimulate not prevent innovation

The NHS should be supported to continue to invest in innovation in order to save more money in the long-term argues a major new report ‘Creating a sustainable 21st century healthcare system’ by the International Longevity Centre – UK (ILC-UK).

‘Creating a sustainable 21st century healthcare system’, sponsored by EY, is the first report in ILC-UK’s SOS 2020 Health series. It highlights how a ‘perfect storm’ of demographic and wider economic and social trends are converging to push up the cost of healthcare across the globe. The report showcases examples of innovation from across the world which could save lives and money if introduced more widely.

The UK’s healthcare system provides a third of the exemplary case studies showcased in the report, but the report suggests that more work needs to be done to share and spread innovation in the UK, and that there’s much to learn from other leading markets such as India, Australia, Europe and the US.

The report points out that the 15 million people who have a long term health condition account for 70% of the total health and care spend in England. Yet across Europe, on average only 3% of healthcare expenditure is allocated to prevention and public health programmes.

The NHS is committed to achieving £22bn efficiency savings through productivity gains of 2% or 3% a year between now and 2020. The ILC-UK research has shown this target will be very challenging without real innovation. The OBR highlight productivity in the health sector only rose by around 1% per annum on average between 1979 and 2010.
The report suggests that a concerted focus on innovation and prevention - developing more empowered health consumers, whilst also maximising the potential of big data - would help to deliver significant savings in the long-term.
Phase two of the report, due out in 2016, will model the impact of applying the leading global innovations showcased in the first report to new markets to highlight the potential global savings of sharing innovation.


Baroness Sally Greengross, ILC-UK Chief Executive said “Whilst innovation can save money in the long term, it requires up-front investment. And the nature of introducing new or dual systems can mean that for the first few years costs go up and services don’t improve.
The picture is not as bleak as it may sound however. Advances in health technology have the potential to significantly influence patient’s access to health care and the way that health care is delivered. Big data can revolutionise the way services are focussed on the individual.

But for us to maximise the potential we have to create a climate for innovation in the health service. We might also accept that if we are to innovate to reduce costs and improve services over the long term, public and private investment is vital. Government must ensure that the £22bn savings being asked of the NHS act to stimulate not prevent innovation.”

Shaun Crawford, EY Global Insurance Sector Leader said  “‘The report  has sourced a bank of robust innovative global case studies that demonstrate the potential to deliver better health outcomes and reduce costs across the world at a time of growing pressure on our health care systems. Empowering consumers and harnessing big data will be crucial to delivering long-term savings for the sector.”

Global health innovations

  • The ‘Stay on Your Feet’ programme in Australia is preventing falls among older people by targeting their knowledge, attitudes and behaviours, resulting in a 22% lower incidence of self-reported falls and a 20% decrease in fall-related hospitalisations.
  • Canterbury District in New Zealand has developed a vision of ‘one system, one budget’, bringing in experts to support clinicians to redesign care pathways and workflow. The result has been reduced admissions across acute care, as well as a 20% drop in nursing homes admissions.
  • Healthcare providers in South Central Pennsylvania  used ‘big data’ to identify ‘superutilisers’, then developed a coordinated care service for these people, resulting in inpatient admissions dropping by 34% after enrolment in the programme, equating to savings of $1,242,000 for 138 patients in 12 months.

European policy makers urged to support rather than compel longer working lives.

The Eurozone’s economy could lose one in six workers due to population ageing. Harnessing the power of older workers is a vital component of any long-term strategy to rejuvenate economic growth across the Europe, argues the International Longevity Centre –UK today.

A new report by ILC-UK, shows that raising labour force participation rates amongst older age groups could make a significant difference to rates of economic growth over the next 40 years. The report reveals that:
• Workers aged over 50 contributed a staggering €2.5trn to Eurozone GDP in 2013.
• Without a substantial rise in workforce productivity to offset the anticipated fall in employment, GDP per capita growth rates across the Eurozone may only reach 1% per year up to 2050.
• By 2050, higher participation rates amongst the over 50s could deliver 12.6% more economic output per person (in real terms) than if participation rates by age remain the same.
• Across OECD countries, there is a strong association between poverty rates and working longer – with higher poverty rates linked to higher workforce participation.
• Avoidance of financial ruin and poverty are not the only factors keeping people in work. Health and education are also important – those countries whose older populations are in better health or who are better educated are also more likely to work longer.

“Rising from the ashes: The role of older workers in driving Eurozone recovery”, has been published today by ILC-UK, with the support of Prudential.
The report reveals that 1 in 6 Europeans are currently over 65, yet by 2060 this figure will be 1 in 3. Moreover, currently only around a half of workers aged 55-64 in the Eurozone are  in employment.
Rising from the ashes reveals that “Unless a higher proportion of older people remain in the workforce, total employment could fall by up to 17% over the next 35 years”.

ILC-UK finds that raising workforce participation at older ages in line with their scenarios could deliver a greater economic boost for the region’s periphery countries than for its core. This is partly because these countries have more catching up to do in terms of raising labour force participation amongst older age groups. It is also because population ageing is expected to occur more quickly across this part of the Eurozone.

ILC-UK argue that in order to respond to the challenges ahead, European Governments must:
• Invest in skills and training at all ages;
• Develop and utilise new technologies and, critically in the context of this report;
• Encourage greater workforce participation amongst the over 50s

Ben Franklin, Senior Research Fellow at ILC-UK said:
Older workers aren’t a silver bullet to tackle all the economic challenges that Europe faces. But what this report reveals is the huge potential benefits of extending working lives. As part of any programme of structural reform, it is important for policymakers to focus on how to maximise the productive potential of the Eurozone’s workforce over the long-term including harnessing the productive power of older workers. To maximise the economic return of older workers, Governments should consider how they can best invest in the future health and skills base of their older populations”.

Shadow Employment Minister, Stephen Timms MP, who is speaking at the launch of the report added:
I welcome this report which underlines the serious challenge we face in retaining over 50s within the labour market.  This is an issue that the UK needs to take much more seriously. Raising the labour market participation rates of the over 50s could yield significant economic and social benefits

Timothy Fassam, Head of Public Affairs at Prudential said:
“Many older people are happy to stay in work for longer and, according to Prudential’s recent analysis of ONS Annual Survey of Hours and Earnings (ASHE), they are now seeing the welcome side-effect of significant year-on-year increases in annual earnings. However, there are of course those who would prefer to give up work in their seventh decade but have had to delay their retirement because of insufficient pension savings. The best way to secure a comfortable retirement income is to save as much as possible as early as possible, and take the advice of a retirement specialist or financial adviser.”

Rising from the ashes: The role of older workers in driving Eurozone recovery”, has been published today by the ILC-UK.
The report has been published with the support of Prudential.
 

Europe is going grey, with the percentage of over 65’s projected to almost double by 2060. The International Longevity Centre-UK's (ILC-UK) new EU factpack, Europe’s Ageing Demography, supported by the specialist insurer Partnership, examines the pattern of ageing across Europe, and sets the UK experience in to an international context.


This accessible factpack of statistics reveals the areas in which the UK enjoys relative success, and the points where it falls short.  It shows that while the UK has the lowest proportion of over 65s living in cold housing during winter, UK pensioners are at greater risk of poverty in retirement than their counterparts in Germany, France, Spain, and Romania. 


If you use gross replacement rate (i.e. how much of the typical income the state pension replaces) as a measure, you will find that while those in Greece receive almost 100% of their pre-retirement income and the EU average is around half, those in the UK only receive around a third.



The factpack presents evidence on the costs of ageing, showing the expected trajectories of pension, health and care expenditures in the European Union. Here it finds that the UK has one of the highest levels of expenditure on social protection for old age in Europe. The UK spends the equivalent of £2,860 (€3,611) per person on social protection in old age while the EU average is £2,263 (€2,857) (2).


Europe’s ageing has profound implications for individuals, governments and businesses, and the UK must adapt to a continent where it is projected that almost 1 in 3 people will be over the age of 65, and more than 1 in 10 will be over the age of 80 by 2060 (1). The factpack provides the hard evidence which will be crucial for guiding both Westminster and Brussels in their responses to the demographic challenge.


As part of the ILC’s Global Alliance conference this week, Europe’s Ageing Demography is being made available to the UK press. The full report will be officially launched in Brussels at the European Economic and Social Committee on the 5th of November. To register to attend, please click here.


The EU factpack is published as part of ILC-UK’s Population Patterns seminar series, supported by Partnership. The series considers the evidence base of our changing demography and explores how policy makers need to respond to demographic change.


Helen Creighton of ILC-UK said:


"The Government aspires for the UK to be the best place in the world to grow old. But this new factpack shows that whilst the UK is by no means the worst place in Europe to grow old, we’ve got a lot to do to top the European league. Government is right to aspire to be the best. But to achieve that we must look at and learn lessons from our European colleagues."


Richard Willets, Director of Longevity at Partnership commented:


“As with the UK, the rest of Europe is rapidly going grey!  This raises a unique set of challenges for government, business and individuals who not only need to plan for their own later life but also need to put structures in place that will help society at large.  The launch of the European Fact Pack provides us with an excellent opportunity to review the success – and failures – of other countries which will allow us to build an appropriate and robust system for our own older population.”



Contact:
Helen Creighton at ILC-UK on 07531164886    helencreighton@ilcuk.org.uk
Lee Blackwell, Head of PR, Partnership on 020 7398 5986/07950798072    lee.blackwell@partnership.co.uk

Notes:
1. Projections from Eurostat, show that while in 2010 16% of Europeans were over 65, by 2060 this is likely to rise to 29.3% of Europeans. Projections also show 4.1% of the European population was over 80, this figure will rise to 11.5% by 2060.


2. All currency conversions done using http://www.xe.com on 22 October 2014.


Europe’s Ageing Demography will be available from the ILC-UK website from 00.01 Wednesday 5th November http://www.ilcuk.org.uk/index.php/publications Advan.ce copies available upon request, please email helencreighton@ilc.org.uk
Europe’s Ageing Demography will be published in Brussels on Wednesday 5th November 2014.

 

 

SOS 2020 is a major new programme of work led by ILC-UK which will raise awareness of the need to adapt our economy and society to the big strategic challenges posed by an ageing population.

SOS 2020 will outline the specific policy measures needed to achieve this goal. It will illuminate the issues that face us and develop fully considered and costed solutions that will act as a “call to action” to policy-makers and politicians. Above all SOS 2020 aims to raise national and international awareness of problems and possible solutions in which we all have a vested interest.

In an increasingly interdependent world, there is a need to look beyond national shores for collective consensus and joint solutions. SOS 2020 will give us the opportunity to do this.

ILC-UK launched SOS 2020 in July 2014, with the support of Aviva and EY, where we began two projects:

  • Financial Sustainability - which will focus on how we can deliver sustainable yet adequate retirement incomes
  • Health Sustainability – which will focus on fostering innovation in health and social care systems


Financial Sustainability
The aim of this project is to draw out some credible scenarios about resilience in retirement over the next twenty years in response to the new freedoms at the point of retirement. We envisage creating three credible scenarios, each with clear driving forces which combine to shape the future in different ways. These scenarios will be qualitative and quantitative – utilising compelling stories and narratives alongside robust modelling work in order to demonstrate the impact of the different scenarios on financial resilience. This will enable us to make important recommendations to policy makers and to show the various impacts of making different policy choices.  


Health Sustainability
The aim of this project is to create a bank of robust innovative case studies of sustainable health systems, fully costed, and then apply these to different countries from which we can assess their suitability to drive innovation at the global level. We will identify innovations across four agreed thematic areas, these will include: the prevention agenda, dementia, technology, information analysis, health literacy, integrated care, research and drug development and incorporate the wider financing of health and social care (for example which systems incentivise a sustainable approach, insurance systems and self-care systems). 
By identifying sustainable innovations in health and care from across the world and then trying to apply these in different country settings, we ultimately hope to offer robust and verifiable models that will improve performance (better health outcomes and reduced costs) at a time of growing pressure.

While undertaking these projects ILC-UK will continue to seek support for other strands of work as part of SOS 2020. This programme of work has the potential to be a leading catalyst with an evidence led, solution orientated approach, not only in the fields of health and retirement featured today, but also in Communities, the built environment and transport systems which, collectively, will shape the quality of life for us and our children.

If you would like more information on any aspect of the project please do get in touch:

 

  • Ben Franklin (benfranklin@ilcuk.org.uk) will be leading on Sustainable Retirement Income.
  • Sally-Marie Bamford (sallymariebamford@ilcuk.org.uk) will be leading on Sustainable Healthcare.
  • Jonathan Scrutton (jonathanscrutton@ilcuk.org.uk) will be the overall coordinator for the project.

With the independence vote on the horizon, Scotland’s policymakers must face up to the challenges of a falling working age population while also tackling significant public health challenges argues a new report by the International Longevity Centre-UK (ILC-UK).

The report highlights the demographic changes facing Scotland over the next 20 years - revealing that:

  • By 2037, Scotland’s working age population is expected to be 3.5% smaller than it was in 2013 – the largest percentage fall of any UK nation (England +5%);
  • Assuming employment rates by age remain the same, this would imply a fall of 45,000 (-2%) in total employment compared with a 1.7 million (+6%) rise across the UK as a whole; 
  • In the year 2014, it is anticipated that there will be 19 more babies for every 1,000 women aged 30-34 in England than in Scotland;
  • Since 1981, at birth male life expectancy in Scotland has been around 2 years shorter than across the UK as a whole.  However, to help ensure continued economic growth, Scotland will need to support longer working lives;
  • At birth disability-free life expectancy for males in Scotland is below State Pension Age and four years shorter than for the UK as a whole. It will therefore be particularly critical that Scotland addresses problems associated with health and disability in order to support longer working lives;
  • Over the next two decades the dependency ratio (the ratio of non-working age people to working age) will rise by 40% in Scotland by comparison to a 30% rise in the UK;

The report is being launched today at an ILC-UK ‘Population Patterns’ event in Edinburgh – which is part of a broader series of events - supported by the specialist insurance company, Partnership Assurance. Today’s event will explore the demographic implications of Scottish Independence.

“Scottish Independence - Charting the implications of demographic change” argues that Scotland must work to extend working lives and improve health if it is to respond adequately to the challenges of an ageing society.

It continues highlighting that Scotland should not seek to rely on the revenue from oil and gas to fund the costs of ageing as this is anticipated to fall from an historic average of £5.5bn per annum during the years 1980-2013, to around £2bn during the period 2014-2041. 

ILC-UK points out that the combination of an ageing population and declining revenues from oil and gas extraction is likely to place downward pressures on government spending as well as upward pressures on taxation.

Speaking at the launch event in Edinburgh today, Richard Willets, Director of Longevity at Partnership said:  “With a rapidly aging population, longevity is steadily moving up the news agenda and the potential impact of any changes are becoming an increasing concern for government.  Therefore, it is vital that this becomes part of the general discussion when independence is considered and positive steps are taken to deal with demographic challenges such as the falling working age population.”

David Sinclair, Assistant Director, Policy and Research at ILC-UK added: “The demographic challenges facing Scotland are similar to many other nations. But some of the challenges are starker than for other parts of the UK. Against this backdrop, economic policy will need to incentivize longer working lives and policymakers will need to deliver increased investment in capital to improve the productivity of the workforce and drive economic growth. Policymakers must ensure that significant attention is paid to improving health in Scotland.”


People should “right-size” their housing throughout their lives to get the most out of their homes, a think tank says today.

The International Longevity Centre-UK (ILC-UK) paper argues that calls made in the past for older people living in large homes to be penalised were both ageist and irrelevant.

“The cultural practice of over-consumption of housing is prevalent across all ages, although older people, through possessing greater financial resources, may be best placed to act upon this aspiration,” the paper concludes.

A lack of desirable retirement housing, the paper suggests, dissuades many older people from moving - reducing the supply of appropriate homes for younger people.

It points out that building of housing for older people has collapsed from over 30,000 units a year in the 1980s to around 8,000 today.

However the think tank also concludes that a complex array of factors has left many older people in homes that no longer meet their needs.
These factors include our tendency to deny the realities of ageing, a state-of-mind that means many are not aware of the benefits retirement housing offers. Research shows that appropriate housing can postpone the onset of chronic conditions or frailty and prevent or delay care home admissions.

The paper recommends that:

  • Health and social care policy should explicitly encourage people to access the right form of housing before crises emerge
  • The government should help councils assess whether the local supply of retirement housing (based on local demographics) is adequate
  • Providers should work together to promote retirement housing and improve its image - and design quality
  • The sector should study successful age-segregated housing for other demographics (such as students) and age-related products (such as Saga holidays).

Both older people and local authorities see retirement housing as for people with significant health or care needs. For older people, this, together with perceptions that such properties are often isolated and expensive, reinforces the idea that such housing is “not for me”.

Downsizing in later life and appropriate housing size across our lifetime is published by Hanover Housing as part of its Hanover@50 Debate.

Hanover chief executive Bruce Moore said: “Individuals need to consider making trade-offs about the housing we require as consumers, as we do with everything else.

“If people want spare rooms - no matter what their age - they may need to consider whether the cost of those extra rooms is a price worth paying. Downsizing is often a good way to release money, or for funding either a nicer - but smaller - home, or a home with onsite care and support where that is needed.”

Dylan Kneale from ILC-UK added: “We must all think harder about the sort of housing we are likely to want to live in as we age. Too many of us deny the impact of ageing and end up in inappropriate housing. Local authorities and central government can help by ensuring that planning policy supports the provision of adequate housing for all ages. Planners and policy-makers must best recognise the impact of our ageing society and develop adequate housing provision for all ages.”

Ends

Notes to Editors:

  1. Hanover provides 19,000 homes for older people across England and Wales.
  2. The Hanover@50 Debate features papers from ten think tanks to be published between April and June. For more information on Hanover and to access these papers visit www.hanover50debate.org.uk. Papers by the RSA and Demos are also published this month as part of the series.
  3. For further information about these papers and Hanover@50, or to arrange an interview, please contact Ben Furner on 01273 463461 or email ben@furnercommunications.co.uk.

38 essays penned by high profile authors present a picture of our ageing society that is unprepared and in some instances unwilling to respond to the new female demographic dividend.  Many of the essays reveal that while women are living longer this does not necessarily imply a happier or healthier older life, with older women shown to be at greater risk of abuse, isolation and loneliness and poverty.

Baroness Greengross, Chief Executive of the ILC-UK said:

“International Women’s Day is a day for celebrating the achievements of women across the world and yet it also provides an opportunity for a ‘societal stocktake’. As our collection of essays clearly reveals, somewhere along the way we seem to have relegated older women to the second class seats in our fight for gender equality. Not only do we need to advance and empower dignity in older age, we also need to make sure we embrace and harness the significance and potential of our older female population.”

The essays show that while some women in their sixties, seventies and eighties may not think of themselves as old, many women of a certain age feel at best invisible and at worst considered a burden for the younger generation, with older woman’s contribution to society considered non-existent. Yet in fact older women are the social glue that binds our families and communities together, for example as carers, and yet none of this is seen as significant. Furthermore, older women can find themselves battling for the benefits that younger women take for granted.

As Jane Ashcroft, CEO of Anchor and Trustee of Silverline wrote in her essay:

“As a society and for ourselves, don’t we need to see every older woman as an individual and … improve visibility - instead of ‘Oh I didn’t see you there’ can we say ‘ah, I’ve been looking for you’?”

Sally-Marie Bamford, editor of the report and Assistant Director, Research and Strategy said:

“This collection of essays provides a marker for future change, it represents a united dissatisfaction with the status quo and as a result we will be launching an Older Women’s Policy and Research Action Alliance to drive this agenda forward.”

The compendium is available to download from http://www.ilcuk.org.uk/index.php/publications/publication_details/has_the_sisterhood_forgotten_older_women The hashtag is #olderwomen

Today the International Longevity Centre-UK (ILC-UK) launches a pioneering snapshot of the life of older women in the UK and highlights how older women are still suffering from the legacy of a pension system designed historically around men and largely by men.
An intimate and revealing collection of essays penned by high profile authors entitled ‘Has the sisterhood forgotten older women?’ reveals the secret struggles and financial challenges for older women as they age.

Included within the 38 essays are contributions from Ros Altmann (Independent pensions expert and former Government policy adviser) and Anthony Thompson (Head of Public Affairs for Scottish Widows), both of whom highlight a ‘forgotten generation’ of older women who have found themselves in a pensions ‘black hole’.

Baroness Greengross, Chief Executive of the ILC-UK said:
“We are witnessing a generation of women who will be living out their later years in poverty through no fault of their own as a result of historic discrimination in the state and private pension arena. We need to make sure the next generation of women do not fall into the same trap.

While we welcome the proposed flat- rate state pension which should herald significant improvements for future generations of women, we need to make sure we repay the contribution older women made both in the public and private sphere and ensure they have financial security and dignity in later life.”

Ros Altmann, in her essay entitled ‘How older women lose out in the pensions arena’, urges women now to take responsibility for their own financial future and sets out her top tips for women to help provide for themselves in later life:

  • “Don't rely on a partner's pension - save for yourself.
  • If your partner is buying an annuity, make sure he knows the importance of selecting a joint life product that will keep paying to you after he dies.
  • Take your own financial planning advice, to help you assess your later life income prospects.
  • More women than men will need expensive social care so you may want to plan how you might pay for that if needed.”

In response to the essays and evidence submitted, ILC-UK will also be launching an Older Women’s Policy and Research Action Alliance to create a roadmap for future research and policy priorities.

The compendium is available to download from http://www.ilcuk.org.uk/index.php/publications/publication_details/has_the_sisterhood_forgotten_older_women The hashtag is #olderwomen

Governments must do more to reduce the long term cost of ageing to the public purse argues a new policy report from the International Longevity Centre – UK (ILC-UK).

“The cost of our ageing society”, sponsored by Milliman, highlights the projected financial impact of the cost of the world’s ageing population.

In the report, ILC-UK calls on governments across the world to consider linking eligibility ages of state pension to life expectancy and do more to ensure that the labour market is accessible to older people.

ILC-UK also argues that governments need to ensure pension systems are sustainable, allow for greater risk-sharing, and are less vulnerable to longevity risk. It also urges Governments across the world to consider how to create better conditions for health care innovation and development.

ILC-UK believes that governments need to prepare for uncertainty noting that “Policy makers today are being asked to prepare for a future about which there is a serious degree of uncertainty and therefore sustainable policies will be the ones which can adapt to unexpected changes.” It argues therefore that addressing the needs of ageing populations will require ongoing investment in research and data collection.

ILC-UK argues, however, that policy interventions must recognise the contribution that older people make to society and the economy. ILC-UK also points out that individual countries will need to ensure there are safety nets for those who cannot work longer.

“The cost of our ageing society” draws heavily on the European Commission’s 2012 Ageing Report (1) and the Office for Budget Responsibility’s Fiscal Sustainability Report, July 2012 (2)”. ILC-UK summarises the latest projections on longevity and the cost of ageing across the world.

  • In the UK:  age-related spending is projected to rise from an annual cost of 21.3% to 26.3% of GDP between 2016/17 and 2061/62, a rise of 5% of GDP (3) (equivalent to a rise of around £79bn in today’s money).(4)
  • In the EU: age-related spending is projected to rise from an annual cost of 25% to 29.1% of GDP between 2010 and 2060, a rise of 4.1% of GDP.(5)   However, a scenario which assumes greater resources devoted to development within health care projects that age-related spending in the EU could rise to as much as 29.8% of GDP, annually, by 2060. (1)

In the UK:

  • spending on public pensions (state pension, benefits and public service pensions) is projected to rise from an annual cost of 8.9% to 10.8% of GDP between 2016/17 and 2061/62, a rise of 1.9% of GDP (6) (equivalent to a rise of around £33bn in today’s money). 
  • spending on health care is projected to see the largest rise of all elements of age-related spending, rising from an annual cost of 6.8% to 9.1% of GDP between 2016/17 and 2061/62, a rise of 2.3% of GDP (2) (equivalent to a rise of around £36bn in today’s money).  The rise in projected spending on health care in the UK mirrors the increase in the ageing population. 

However, scenarios in which there were higher than expected levels of mortality, morbidity and health care development could see much greater increases in expenditure on health care. (2)

  • spending on long term care is projected to rise between 2016/17 and 2061/62 by 0.9%, from an annual cost of 1.1% to 2% of GDP, a rise of 0.9% of GDP (2)  (equivalent to a rise of around £14bn in today’s money). 

Baroness Sally Greengross, Chief Executive of ILC-UK, said “Our ageing society will have significant impact on state spending on pensions, health care, long-term care and unemployment benefits. Across the world, people will need to continue to work longer as a result. In the UK and across the world we will also have to innovate in health and deliver a sustainable funding settlement for social care."

Emma McWilliam, Editor Longevity Risk and Consulting Actuary Milliman, said “Intergenerational collaboration is key, especially given high rates of youth unemployment.  If those at working age are not employed, simple old age dependency ratios do not show the complete picture to Governments on how best to deal with the challenge ahead. Additional measures such as Labour Market Adjusted Ratios, as set out by the European Policy Centre, that effectively encourage policies around employment are definitely a step in the right direction to build public policy that reflects the current demographics and needs of all generations in our future society.

David Sinclair, Assistant Director, Policy and Communications at ILC-UK, added “Governments across the world must not ignore the future costs of our ageing society. These costs won’t just go away. Drifting along is not an option and does not benefit future older or younger people. Policymakers must urgently look to solutions to the long term challenge of mitigating the increased cost of an ageing society."

Contact

David Sinclair or Jessica Watson at ILC-UK on 02073400440 or 07531164886


Notes

Baroness Sally Greengross and David Sinclair are available for interviews on this report.

On 16th October 2012, ILC-UK organised an event on “The cost of our ageing society”. This joint debate between ILC-UK and the Actuarial Profession was sponsored by Milliman.

ILC-UK and the Actuarial Profession, sponsored by Milliman, are organising a further event on “The cost of our ageing society”. The event will take place on 20th February in Edinburgh (16:00-19:00). If you are interested in attending please email events@ilcuk.org.uk

The International Longevity Centre-UK is the leading think tank on longevity and demographic change. It is an independent, non-partisan think-tank dedicated to addressing issues of longevity, ageing and population change. We develop ideas, undertake research and create a forum for debate. http://www.ilcuk.org.uk

Milliman LLP is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in life insurance and financial services, property & casualty insurance, healthcare, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit http://www.milliman.com and uk.milliman.com.

References

  1. European Commission (2012) The 2012 Ageing Report. Economic and budgetary projections for the 27 EU Member States (2010-2060) European Union http://ec.europa.eu/economy_finance/publications/european_economy/2012/2012-ageing-report_en.htm
  2. Office for Budget Responsibility (2012) Fiscal sustainability report, July 2012  (OBR) http://budgetresponsibility.independent.gov.uk
  3. OBR (2012) Table 3.6, includes education
  4. GDP Projections by ONS, 2012/13 UK GDP- £1.57trillion, HM Treasury http://hm-treasury.gov.uk/data_gdp_index.htm
  5. EC (2012) These figures include education which is also affected by demographics
  6. OBR (2012) includes Basic State Pension, State Second Pension, Pension Credit, Winter Fuel Allowance and other benefits

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