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Article
Publication date: 9 March 2015

Angus Hanton and Liz Emerson

Increasing longevity, while welcome, has far-reaching implications for the social contract between generations. These include eye-watering costs for health and social care…

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Abstract

Purpose

Increasing longevity, while welcome, has far-reaching implications for the social contract between generations. These include eye-watering costs for health and social care, intense pressure on the old-age dependency ratio, changing power relations in politics and voting, and increasing pressure on in-work families. In a period of austerity, policy makers have chosen to protect older generations’ benefits and paid for this by slashing benefits for the young, in spite of growing evidence that wealth distribution has changed with older generations becoming wealthier than once thought. The paper concludes that age alone can no longer be used as a proxy for need. The paper aims to discuss these issues.

Design/methodology/approach

This discussion paper uses original quantitative research and analysis undertaken by the Intergenerational Foundation (IF) (www.if.org.uk) which includes Freedom of Information requests to government departments. It brings together the think tank's research into demographics, ageing, policy, government debt and liabilities, benefit reform and spending patters in order to investigate the changing distribution of wealth across the generations.

Findings

It is clear that with changing distributions of wealth that age alone can no longer be used as a proxy for need. While older generations are becoming wealthier younger generations are becoming increasingly burdened by debt, with poorer prospects and being asked to maintain the current status quo.

Originality/value

The paper contains original research conducted by the IF (www.if.org.uk) into spending patterns across the generations and annual public sector pensions.

Details

Quality in Ageing and Older Adults, vol. 16 no. 1
Type: Research Article
ISSN: 1471-7794

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Article
Publication date: 9 March 2015

Liz Emerson and Angus Hanton

The purpose of this paper is to expand upon the Intergenerational Foundation (IF) presentation given at the “Portraying of Ageing” conference, which was organised by the British…

105

Abstract

Purpose

The purpose of this paper is to expand upon the Intergenerational Foundation (IF) presentation given at the “Portraying of Ageing” conference, which was organised by the British Library and held in London in April 2014.

Design/methodology/approach

Changing demographics, wealth distribution, government debt and voting patterns are examined in order to question whether current government policy should continue to protect older generations at the expense of younger and future generations.

Findings

IF provides statistically robust evidence that, in spite of increasing wealth, older generations continue to be protected by government policy while younger generations are targeted for cuts from liabilities built up, but not paid for, by previous generations.

Social implications

Government policy may have tipped too far in favour of older wealthier cohorts, many of whom receive automatic benefits based on reaching a certain age. Governments should consider replacing age as a proxy for need with means-testing in order to rebalance benefits more fairly across the generations.

Originality/value

There have been limited research studies comparing the incidence of wealth amongst older generations and the scale of liabilities being passed on to younger and future generations. This paper will be of value to policy-makers interested in rebalancing the interests of all generations more equitably.

Details

Working with Older People, vol. 19 no. 1
Type: Research Article
ISSN: 1366-3666

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Article
Publication date: 9 March 2015

Simone Bacchini and Gillian Crosby

296

Abstract

Details

Working with Older People, vol. 19 no. 1
Type: Research Article
ISSN: 1366-3666

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