Inequality Among Old

Question 1

Class inequality

Answer 1

Class Inequality:

•	Middle Class:
•	Advantages: Better opportunities and savings due to higher salaries.
•	Retirement: More likely to retire when desired rather than waiting for the state pension.
•	Working Class:
•	Disadvantages: Poorer health and fewer opportunities for a youthful self-identity.

Question 2

Gender

Answer 2

• Women:
• Stereotyping: Face both sexist and ageist stereotypes (e.g., “old hag”).
• Earnings and Pensions: Lower lifetime earnings and pensions due to lower wages and career breaks for child-rearing.

Question 3

Policy

Answer 3

• Financial Challenges:
• Hirsch (2005): Main issue is financing a longer period of old age.
• Solutions: Increase savings/taxes, work longer, or a combination.
• Policy Recommendations:
• Retirement Age: Reverse trend toward earlier retirement.
• Education: Redistribute resources to help older people retrain and improve skills.
• Housing Policy: Encourage downsizing to smaller homes or retirement accommodation to free up housing and improve living standards.
• Cultural Change:
• Perception: Reassess what age is considered appropriate for retirement in an ageing society.