Precarious ageing versus the policy of indifference: International trends and the G 20

Population ageing, the global economy and the G20 The 2014 G20 Summit met at a time of stuttering recovery for the world economic system, in so far as recovery relies on economic growth and trustworthy and reliable international financial institutions. During the global financial crisis (GFC) that took place between 2007 and 2010, not only did many advanced economies have to bail out those financial institutions, generating austerity measures that varied in scope and severity between countries, the crisis was also used as an opportunity to reengineer public policy and the practices of private corporations. For older people, this was perhaps most notable in the arenas of pensions and social recognition, expressing itself in the co-option of a number of formerly progressive ideas from gerontology. In particular, the promotion of models on active and productive ageing and noncompulsory retirement ages became part of an economic agenda of restricting definitions of legitimate social engagement to work availability, the pushing up of state pension age eligibilities and the rapid replacement of defined benefit by defined contribution superannuation schemes. While these trends had been nascent in policy thinking prior to the GFC, they had now become an explicit element of public policy. The changes reflected a broader and profound shift toward personal and away from collective sharing of risk across the life course, which had now taken a particular form in later life.