Increased longevity and low birth rates imply rising old age dependency rations unless one of three responses occurs: rising retirement age, recovery of birth rates, or immigration. But all post their own problems.
Adair Turner, visiting professor at LSE, will explore the economic and social issues created by demographic change at the London School of Economics and Political Science (LSE) on Thursday 6 November.
If dependency rations rise, maintaining pensioner income requires either higher taxes or higher saving rates. But the macroeconomic and political feasibility of saving or tax based approaches is uncertain. Rising retirement ages require changed workplace attitudes. And there are major social and economic issues involved in fertility - and immigration - focused policies.
Adair Turner is vice-chairman of Merrill Lynch Europe, a director of United Business plc, chair of the Low Pay Commission and chair of the Independent Pension Committee. He is visiting professor at LSE.
Demographics, Economics and Social Choice is on Thursday 6 November at 6pm in the Old Theatre, Old Building, LSE, Houghton St, London WC2A. The event is free and open to all with no ticket required.
Members of the press: To reserve a press seat, please contact Jessica Winterstein, LSE Press Office, on 020 7955 7060 or email firstname.lastname@example.org
Members of the public: For more information, contact Jo Cantlay on 020 7955 7285 or email email@example.com
29 October 2003