By the year 2045, for the first time in history, there will be more people over the age of 65 than under the age of 15. The population over 65 is expected to triple and persons aged over 80 is expected to be the most rapidly growing group.
These are expected to cause the ageing of the population and the increase of the expenditure on pensions, the health and the long term care. In particular, the social expenditure on pensions in the EU as a percentage of the GDP is expected to rise by 2.2 percentage units from the 10.6% that was in 2004.“This is according to OEB”
