BB-Future - THE CARE WAVE AND THE FUTURE OF THE BABY BOOMERS AND THEIR CHILDREN Projects uri icon

type

  • European Research Project

reference

  • 101093849

date/time interval

  • January 1, 2023 - December 31, 2026

abstract

  • The baby boomers are in the process of retiring. Most are between 60 and 65 when they retire and almost 80% self-assess their health
    as good. A huge number of research projects has analyzed retirement decisions and the impact of this “pension wave” on the
    transformation of pension systems in the ageing societies in Europe and elsewhere. There is no lack of pension finance projections
    and policy advice for pension reforms and their socio-economic effects, including active ageing and the role of elder citizens in
    transforming our economies into “silver economies”.
    Much less is known about the second great transformation that will follow the pension wave. In the mid2030s, the health of the baby
    boomers will have deteriorated and many in these large cohorts will be in need of formal and/or informal long-term care. This “care
    wave” will transform two generations: the baby boomers in need of care and their children who may supply care. It will have
    significant implications for labour supply, especially for women, saving behaviour, and therefore for productivity, economic growth
    and its inclusiveness.
    The overarching objective of BB-Future is to make a concerted effort to understand the size and the implications of the care wave on
    economic and social outcomes, to appreciate the quality of this second ageing-related transformation and to develop policy
    recommendations for advance planning on the EU and MS levels.

keywords

  • long-term care; female labour force participation; inclusive growth; intra/intergenerational equity