Like many developed nations, Finland has an ageing population that is putting financial pressure on its social welfare systems.
As an increasing number of people live longer in retirement, the cost of providing pension and healthcare benefits can rise. Those increased costs are paid for by taxes collected from of the working-age population – who make up a smaller percentage of the population than in decades past.
In 2018, those aged 65 or over made up 21.4% of Finland's population, the joint fourth highest in Europe alongside Germany — with only Portugal, Greece, and Italy having a higher proportion, according to Eurostat.
Finland's welfare system is also generous in its provisions, making it relatively expensive. Attempts at reform have plagued Finnish governments for years.
If the government weren't one big pyramid scheme, a slightly declining population would be great! You could just maintain existing infrastructure and have ever more of everything per person. Win win!
We're on the verge of a huge upswing in automation (or at least that's what I'm told). Automate that elderly care!
As an increasing number of people live longer in retirement, the cost of providing pension and healthcare benefits can rise. Those increased costs are paid for by taxes collected from of the working-age population – who make up a smaller percentage of the population than in decades past.
In 2018, those aged 65 or over made up 21.4% of Finland's population, the joint fourth highest in Europe alongside Germany — with only Portugal, Greece, and Italy having a higher proportion, according to Eurostat.
Finland's welfare system is also generous in its provisions, making it relatively expensive. Attempts at reform have plagued Finnish governments for years.
https://www.bbc.com/news/world-europe-47496326