When the proportion of old people continue to rise, There will be a decline in the workforce of such society. The old ones have a limitation to what work they can do as they age as the body systems are hitting a decline which has a negative effect on society.
I have nothing personal against older people and I accept this observation is quite anecdotal. . . But in the UK it has been a disaster! Two reasons. . . .
1. Brexit. It was supported almost exclusively by the over 50s. . . . . Those younger typically voted to remain. . . . . So apparently we leave based on a single age range. . . …. .
2. Right wing policies. The older generation typically vote for right wing policies and have supported the present economic model. This has been a disaster for working people and the young especially. . . Ie ZHC, Few union rights, Out of control rents, Austerity.
The older voters (most of whom are retired) WON'T suffer the consequences of these decisions as they are homeowners and have private pensions. . . Yet every one else will suffer and have already suffered. No one can get the change required because the older population keep harping about having won WW2 (they didn't it was their parents but that's another story).