Rapidly ageing population a financial time bomb

Ireland’s rapidly ageing population is leading to a financial time bomb, with warnings that no plan is in place to cope with the dramatic rise in those aged over 65.

Projections by the Central Statistics Office (CSO) show by 2021 the number of elderly people will have grown by 200,000 and there will be another 100,000 primary school children.

The yawning gap between the number of older and younger people will widen further by 2046, leading to warning over pension deficits, the need for greater nursing home provision, and increased education and healthcare costs.