old age Flashcards
1
Q
what is the demographic timebomb
A
- as of 2021, 18.6% of the uk population is 65 years and over
- 17.4% were aged 15 and under
- if there are more people over 65 than under 16, it has repercussions for the uk as a whole, issues such as depedency and having so many people possibly needing health care, social services, housing means there is a potential crisis.
- however, not all elderly will require extensive health care, as well as not all people will retire at 65
2
Q
when is the current state pension?
A
- 66 for both men and women
- set to gradually increase from 2026
3
Q
is compulsory retirement still used in the UK?
A
- been phased out in the UK but companies can still set them.
- those structures mean individuals lack the agency to choose their own retirement ages.
4
Q
work place age discrimination statistic
A
- 38% of discrimination cases in 2006 cited age as the reason why
5
Q
what are the other forms of discrimination at work?
A
- promotion - less likely to be chosen for career progression
- lower pay
- zero hour contracts
- part time park
6
Q
b&q case study
A
- in the late 80s, after realising taht its sales staff didnt reflect the diversity of its customer base, staffed its macclesfiel store with soley over 50s.
- profits were 18% higher.
- staff turnover was six times lower
- there was an 39% less absenteeism and 58% less shrinkage
- improved perception of customer service and overall increase in skill base
7
Q
what is the reserve army of labour?
A
- marxist term
- describes the ranks of unemployed who - through the absence of any meaningful choice - are prepared to work for very low wages in temporary jobs, the existence of a reserve army of laborers serves the interests of the bourgeoisie and exploits members of the proletariat.
8
Q
what did jones et all 2010 find?
A
found that retirement was seen positively by those that had worked in executive and higher management posts that had chosen to take early retirement.
9
Q
what were the three main postives of early retirment - jones et all
A
- had a choice that others their age didn’t due to the high-status careers
- time for creativity and freedom to choose new interests and hobbies
- respondents were aware their retirement would be more fortunate than both past and future generations who would have to deal with unemployment, reduced pensions and insecurity.
10
Q
what age groups is the wealthiest in the uk?
A
- on average older people in the uk have higher levels of wealth than younger people largely due to rising property prices
- over 65s are the second wealthiest group in the uk
11
Q
what is the grey pound?
A
- the spending power of the elderly, they generally now hve no dependents and have paid off mortgages and other laons.
- spending by the 65+ increased by 75% between 2001-2018, decreased for all age groups under 50
- data from international longevity center UK, 2018
12
Q
old age - poverty stats
A
- 1 in 7 pensioners live in poverty, defined as having incomes of less than 60% of the median income after housing costs.
-a further 1.2 million pensioners have incomes just above the poverty line
13
Q
what is low income in retirment linked to?
A
- earlier low pay
- time out of employment e.g., due to caring responsibilities, disability or unemployment.
14
Q
who are at a great risk of being in poverty?
A
- women more likely to be in poverty than men
- older pensioners - 85+
- single people living alone
- private tenants
- Asian pensioners are at particular risk (age concern)
15
Q
health and well being
A
- older people are being denied surgery
- cancer Research UK say older people more likely to die of cancer because of less investigation of and treatment for their disease because of age bias
