What are the supply (workforce) and demand (product) implications of an
ageing society? This report is part of the Foresight Future of Manufacturing series. It discusses the manufacturing sector’s preparedness for changing age
demographics. Over the next forty years, the number of people over traditional retirement
age will grow rapidly, while those of traditional working age will shrink. For most people,
extended lifespan will not mean extended “old age”, but rather more time spent in good
health, and greater disposable time and income than they had earlier in life. While longer
lives are a cause to celebrate, they also create a range of economic, cultural and political
challenges, especially the need to improve the economic “dependency ratio”, by
extending working life for many, or all, people.