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For the United States and other parts of the world, the demographic future appears very different than it once did in the recent past. From the year 1950 to 2010 there was rapid growth with the U.S. doubling in population and globally the population nearly tripled. It is also projected that the population growth from 2010 to 2050 will began to slow down but is expected to reflect more strongly to the age groups of the oldest, in both the United States and across the globe. The prospects for aging have brought about more attention because the population of children, young, and middle-aged adults unlike in days of the past, are now at a standstill.
. Changes and population growth within its age structure closely resemble the trends of changes in the expectancy of an individual’s life as well as birth and death rates. Surprisingly enough since 1950 in both the U.S and around the world the birth rates have fallen and the death rate has narrowed as well, which leads to a delay in population growth. With the life expectancy on the rise, and birth rates falling at the same time, longevity has improved significantly and has contributed to the aging of populations which is expected to increase in all of the countries (Wike and Poster).
Financial Support of the Aging Population
In the United States, the Social Security Administration provides direct financial assistance and benefits through the means of Social Security, Medicaid, and Medicare for its aging citizens and also for younger Americans who are disabled. As the population of the elders continues to grow and live longer the U.S. will undoubtedly have to spend much more in excess on these particular programs to sufficiently ensure that they have the retirement security needed (Yarmuth).
Germany is a developed nation which offers free access to their coverage of universal health care to all of their citizens and they also have access to a sickness fund which is non- profit that covers most of their medications and necessary medical procedures. In addition to providing adequate health care programs, Germany also provides public education to all of its residents. China is a developing nation that is unable to provide the necessary care to its population of elders. Parts of Africa are under-developed and many are impoverished and have no access to health insurance coverage despite devising a policy to implement community-based care however, no programs or special services are offered to the older citizens at the primary level (Kelly, Mrengqwa, and Geffen).
Governmental Programs
Public pension in the United States is based on their earnings-related entitlement to the benefits which means a work that has paid into the system for a substantial amount of time…
Entitlement eligibility or the right to benefits means certain criterion is required to qualify, such as eligibility for SS which is based on reaching the age of 62 for early retirement and reduced benefits consideration and standard benefits would be at age 67. This age criterion varies across certain nations with some age limits set at 55 and others set at 70 years of age to qualify for these benefits.
Australia has a welfare program that is both need-based and age eligibility which makes the majority of the aged individuals, more than 70% living there eligible to receive public pension benefits. dependent on an individual’s income which would determine if they are at the poverty level. Another example of universal programs such as Supplemental Security Income in the U.S. or the pension program in Iceland where funds are produced by the general revenue or that of New Zealand’s strictly government-funded program, while in Belgium their funding comes from a 7.5% employee tax and another 9% on the employer for payroll taxes. Some nations regardless of age require a minimum residency, length of time paying into a pension plan, and/ or years of service with a company. The social and economic effects of aging are likely to be felt more acutely in the future (Preston and Martin).
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