JAPAN'S AGEING POPULATION

JAPAN'S AGEING POPULATION

1. INTRODUCTION

   • Population peaked at 127.8 million in 2005
     • This is expected to fall by 30% to just under 90 million by 2055
   • Japan's proportion of elderly is the highest in the world
     • In 2006, 20% of the population were 65+
       • By 2055 it is expected to be 41% over 65
   • The birth rate hit a low in 2005 of 1.29 children per woman - a rate of 2.07 is needed to keep the population from shrinking

2. ADVANTAGES

   • 'THE GREYING YEN'/'THE GREY BOOM'
     • elderly are no longer anxious about the future and so don't save their money
     • they buy luxury items, indulging, travelling, etc
     • With so many elderly spending their money it could lead to a growth in economy
   • TECHNOLOGY
     • people worry about elderly relatives which has sparked a technological explosion
       • gadgets have been created so families can keep an eye on their elderly relatives
         • these include a kettle that sends an email to up to 3 people when it's switched on and internet linked sensors which can be attached to things such as fridge doors and bath mats

3. DISADVANTAGES

   • WORKFORCE
     • The labour force in the 15-24 age bracket, which stood at more than 8 million in 1990, will shrink to 5.3 million by 2015
     • Between 1990 and 2025 there will only be 2 workers paying tax to support the pensioners, compared with nearly 6 workers in 1990
   • PENSIONS
     • Age of retirement rising from 60 to 65 by 2030
     • higher pension contributions from the employers and government
     • unless the birth rate rises, the amount of money pensioners receive will have to fall
   • HEALTH CARE
     • National Respect the Aged Day is a national holiday
     • 93% of Japanese people over the age of 60 live at home alone, or with family or spouse. But the number of people living in nursing or care homes is increasing.
       • Caring for the elderly accounts for half of Japan's budget
     • In 2000, a tax on over 40's was introduced to help pay for equipment such as wheelchairs