Was just reading an article about this and wanted to get other people's views. The birthrate in the UK is at a record low, 1.44:
https://post.parliament.uk/research-briefings/post-pn-0745/
The Adam Smith Institute thinks the triple lock on pensions will be unsustainable by 2036, due to too few working people.
I haven't really seen this spoken about on here, in fact, it's normally the opposite: save the planet, have fewer kids, etc. Just wondering what people think about this and what they think the solution is. I'm pretty optimistic, so I'm focusing on the fact there might be more housing available for the kids we do have...
I feel like one of these three things has to happen, but can't work out which would be most popular:
- Retired people from 2036 will have a raw deal when it comes to their pensions - they'll get far less than expected. There may be fewer workers to do, or willing to do, care work, so OAPs might physically suffer that way also. But that's the way it is, until the working age population can balance again, in a few generations time (assuming it doesn't decrease even more).
- We will need to encourage and incentivise even more immigration, to get in workers to care for our old people (through tax and providing services)
- Encourage more people to have children (e.g. South Korea offers cheaper mortgage rates to parents), although few countries have done this successfully.
As someone who will be retired in 25 years, I'm leaning towards 2 or 3. But perhaps the result will be a mixture of all three.