European Commission publishes the 2018 Ageing Report
Every three years, the European Commission publishes it Ageing Report, which highlights the current situation and policy challenges linked to the ageing of the population. The 2018 Ageing Report shows that fiscal costs linked to pensions, health care and long-term care are expected to rise over the coming decades, as Europe’s population continues to age significantly.
The total population in the EU is projected to increase from 511 million in 2016 to 520 million in 2070. However, the working-age population (people aged between 15 and 64) will decrease significantly from 333 million in 2016 to 292 million in 2070. The old-age dependency ratio (people aged 65 and above relative to those aged 15 to 64) in the EU is projected to increase by 21.6 percentage points, from 29.6% in 2016 to 51.2% in 2070. This implies that the EU would go from having 3.3 working-age people for every person aged over 65 years to only two working-age persons.
The fiscal impact of ageing is projected to be a significant challenge in almost all Member States, with effects already becoming apparent over the course of the next two decades. Overall in the EU, the total cost of ageing (public spending on pensions, health care, long-term care, education and unemployment benefits), is expected to increase by 1.7 percentage points to 26.7% of GDP between 2016 and 2070. The evolution of ageing-related costs, however, will vary widely among Member States, with costs falling in eight Member States (Greece, Croatia, France, Latvia, Estonia, Italy, Lithuania and Spain); increasing by up to 3 percentage points of GDP in ten Member States (Portugal, Denmark, Cyprus, Poland, Sweden, Romania, Bulgaria, Finland, Hungary and Slovakia); and rising by more than 3 percentage points in the remaining ten Member States (Netherlands, Austria, Ireland, Germany, United Kingdom, Belgium, Czech Republic, Slovakia, Malta and Luxembourg).
More information is available here.