A modern economy can still function with an ageing population for the following reasons.
People in their sixties and early seventies are considered prized employees because of their excellent work ethics. This not only benefits the aged person employers and the government because government can stall pensions for a longer period. The aged person has the advantage of continuing to interact in the community, what's more they have more money to spend and are happier working than sitting at home rotting.
Some employees I know are in their late sixties, have the vitality and energy of a much younger person and look much younger than their years. Obviously it would mean a change in employment to reflect their age. A person who was a roof tiler for instance would have to consider other suitable employment to reflect their changing physical condition. So it is not all doom and gloom as some may think. All it takes is a review of the way one thinks and I believe Australia is leading the way.
