In a Forbes column, NIRS Executive Director Dan Doonan writes that one of the most immediate challenges resulting from changing demographics is the strain on government-sponsored pension and healthcare programs.
As the elderly population grows, demands on social safety nets increase. With this new strain on resources, governments and municipalities must allocate a larger share of their budgets to support retirees, potentially diverting resources from other essential services for younger generations like education, infrastructure, and healthcare. Getting ahead of these trends will help ensure the long-term viability of these vital programs and manage costs for future generations.