Country’s debt to quadruple as nation gets older -> independent.ie/national-news … 70558.html
IRELAND’S national debt is on course to quadruple in future decades due to ageing, and the costs will dwarf those linked to the banking crisis, a study by a leading ratings agency finds.
there is more
I thought that Ireland was one of the only western countries to be having a baby boom at the moment. Surely that’ll ease the burden. But primarily, the age of retirement is just going to keep increasing the older we get before going for a big sleep, so this doomsday scenario is never going to happen.
…retirement at age 75+ ???..a doomsday scenario in itself.
Might be silly to worry about them now - but construction workers really are banjaxed by the time they are 55 - bodies are like those of 70 year olds. Always wondered what the poor b*stards will do as they raise retirement age…
shuzawuza:
I thought that Ireland was one of the only western countries to be having a baby boom at the moment. Surely that’ll ease the burden. But primarily, the age of retirement is just going to keep increasing the older we get before going for a big sleep, so this doomsday scenario is never going to happen.
Ireland may be having a baby boom, but the birth rate still seems to be below the magic level of 2.1 children born per woman (on average) required to maintain the population level.en.wikipedia.org/wiki/List_of_countries_and_territories_by_fertility_rate )
But yes, I agree with you about the retirement age rising; either that, or it stays the same, but pension payments will be so low as to require most people to find paid work.
Indeed, though a different doomsday then that spelled out
quozl
October 8, 2010, 8:53am
#8
Besides, we’re bound to export the next generation again through FF incompetence, making things even worse for us. Plus ca change.
Die before retirement… It would be an interesting to see if there exists a noticeable gap in the average manual vs non-manual laborers age at death. It could lead to a varying retirement age…
shuzawuza:
I thought that Ireland was one of the only western countries to be having a baby boom at the moment. Surely that’ll ease the burden. But primarily, the age of retirement is just going to keep increasing the older we get before going for a big sleep, so this doomsday scenario is never going to happen.
Ireland may be having a baby boom, but the birth rate still seems to be below the magic level of 2.1 children born per woman (on average) required to maintain the population level.en.wikipedia.org/wiki/List_of_countries_and_territories_by_fertility_rate )
But yes, I agree with you about the retirement age rising; either that, or it stays the same, but pension payments will be so low as to require most people to find paid work.
You’re right, the ‘baby boom’ that i remembered reading is in absolute numbers, but not on a per capita basis:
irishtimes.com/newspaper/wee … 11521.html
74,278 births were registered here last year – 1 per cent down on 2008 but the second-highest figure since 1897.
42 per cent were to first-time mothers.
27 per cent were to foreign mothers.
The fertility rate – or average number of children that women give birth to – is now 2.07.
