UN has claimed that the number of people on the globe should as expected reach 9.2 billion in 2050, which will include elderly persons numbering 1 billion. One of the surprises is that population growth is most concentrated in the 60 plus age group, which is expected almost to triple. Whilst many regard the aging of the population as a triumph of a civilized and caring society, others see it as a major problem facing the community. The increasing aging population will cause the increase in the dependency ratio. This means that there will be more people claiming benefits such as state pensions, and less people working and paying income taxes. Thus, those in work will have to pay higher taxes. This could create disincentives to work and for firms to invest, therefore there could be a fall in productivity growth. The shortage of workers could push up wages, causing wage inflation.