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THE CARE WAVE AND THE FUTURE OF THE BABY BOOMERS AND THEIR CHILDREN

Project description

When all the baby boomers retire

The baby boomer generation is retiring. Their transition out of the workforce is creating not only a “pension wave” but also a shortage of skilled workers. The EU-funded BB-Future project will explore yet another major consequence that will follow the pension wave. In the mid-2030s, the baby boomers will be older and their health will deteriorate. Also, many of them will be in need of formal and/or informal long-term care. This “care wave” will transform two generations: the baby boomers in need of care and their children who may supply care. The project will shed light on the effort to understand the size and implications of the care wave on economy and society.

Objective

The baby boomers are in the process of retiring. Most are between 60 and 65 when they retire and almost 80% self-assess their health as good. A huge number of research projects has analyzed retirement decisions and the impact of this “pension wave” on the transformation of pension systems in the ageing societies in Europe and elsewhere. There is no lack of pension finance projections and policy advice for pension reforms and their socio-economic effects, including active ageing and the role of elder citizens in transforming our economies into “silver economies”.
Much less is known about the second great transformation that will follow the pension wave. In the mid2030s, the health of the baby boomers will have deteriorated and many in these large cohorts will be in need of formal and/or informal long-term care. This “care wave” will transform two generations: the baby boomers in need of care and their children who may supply care. It will have significant implications for labour supply, especially for women, saving behaviour, and therefore for productivity, economic growth and its inclusiveness.
The overarching objective of BB-Future is to make a concerted effort to understand the size and the implications of the care wave on economic and social outcomes, to appreciate the quality of this second ageing-related transformation and to develop policy recommendations for advance planning on the EU and MS levels.

Fields of science (EuroSciVoc)

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Keywords

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Programme(s)

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Topic(s)

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Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

HORIZON-RIA - HORIZON Research and Innovation Actions

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Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

(opens in new window) HORIZON-CL2-2022-TRANSFORMATIONS-01

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Coordinator

MUNICH RESEARCH INSTITUTE FOR THEECONOMICS OF AGING AND SHAREANALYSES GGMBH
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 1 231 818,48
Address
LEOPOLDSTRASSE 139
80804 MUENCHEN
Germany

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Bayern Oberbayern München, Kreisfreie Stadt
Activity type
Research Organisations
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

€ 1 231 818,48

Participants (5)

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