“ Businesses must play a significant role in helping us adapt to our ageing society. They need to create jobs for all ages, help UK plc improve its productivity and help people to plan better for their retirement. Businesses who grasp the demographic opportunity will reap significant financial rewards - older consumers have significant purchasing power. ”
In the letter, the companies point out that “without action, our ageing society poses a risk to the UK economy and our business," and argue that companies have a big part to play in creating jobs for all ages, helping the workforce age well and making products and services that are relevant to all.
Other points made cover the importance of older consumers, which is contrasted with the risks of low saving levels that will affect many people's retirements, and the need to invest in healthy ageing to ensure the UK's productivity.
The letter comes just before the first national Future of Ageing Conference organised by ILC-UK, which seeks to kick-start a debate on the role of companies in the UK's adaptation to demographic change.
Read the open letter: