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The public debate about this demographic revolution has mainly focused on the impact an increasingly old population will have on the future of pension provisions and the potentially negative impact for welfare and care services.
However, what has largely been ignored is a radical attitudinal change, as the large post-war baby boomer generation reachers retirement age during the next 20 years. The baby boomers, who have been at the forefront of social change at every stage in their lives, will be different from current generations of older people. The 'new old' will redefine the meaning of retirement.
In order to understand the implications of this social transition, we need to understand the attitudes and values of baby boomers themselves. Using detailed qualitative and quantitative data, this report paints a compelling picture of the approaching social challenge which only politics and public policy can resolve.
'The political challenge is not simply determining the policy priorities needed to navigate the transition, but whether we can build the necessary institutions, social expectations and political legitimacy in time to influence its outcome. And for that to happen, we need to start now.'
The authors conclude that issues such as inheritance and elder care could lead to family conflict, but also form the basis for a new intergenerational settlement.
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