In answer to the question, 'Looking ahead, 20 years from now, how likely do you think it will be that the proportion of people aged 65 and over will be a major financial concern for society?'
I compared the responses from those aged 15-29 years and 60+ years for Japan and the UK to give an idea of how different generations might respond to this.
For the younger generation, (15-29 year olds), 58% of respondents in Japan felt that this was very likely and another 36% felt that this was somewhat likely. In contrast, 30% of UK respondents in this younger age group felt that the proportion of people aged 65 and over will be a major financial concern for society, with a further 40% that it will be somewhat likely.
(Overall 94% concerned vs. 70% concerned, Japan vs. UK respectively).
In the older age group, 60+ years, 62% of respondents from Japan felt that the financial concern was very likely, and 32% somewhat likely. Their UK counterparts responded with 59% and 27% respectively resulting in 94% concerned vs. 86% concerned, Japan vs. UK respectively.
Very few believed that the concern was not likely at all; for 15-29 year olds in Japan there was a 0% response to this answer, and 3% from the UK cohort.
In the older age group, 60+ years, this was 0.7% and 4%, Japan and UK respectively.
So it seems that the two generations have somewhat different views; the contrast greater in the UK.
Could this be as a result of how inheritance and long-term care are viewed in quite different ways between the two countries?
Category: Funding longer lives