Sudden increase in the number of live births after the Second World War due
to an increase in fertility rates has led to the formation of cohorts with
specific characteristics or baby boom generation. This generation is unique
in the history of the demographic phenomenon that has affected and affects
the functioning of many segments of society. The aim of this paper is to
assess structure of baby boomers who are few years away from retirement,
using demographic data. Impact of baby boomer age structure of current and
future retirees is described with a graphical display of current and
projected age pyramid of baby boomers. Demographic pattern that women live
longer than men is evident in the projected pyramid. In addition, the number
of baby boomers will lead to a "younger" old population. The imbalance in the
number of men and women pensioners, as well as older cohorts of women and
female baby boomers was analyzed. As a result, an increasing trend of women's
age pensioners who are members of the baby boom generation was clearly
observed, which is opposite to the older cohort of women who often were
family pensioners. Different circumstances and conditions in which female
boomers lived and worked will form a new "pension model" because they will
gain their benefits as well as men, for the first time in significant number,
unlike their mothers, which gained the right to retire after they become
widows. Number of women age pensioners is getting greater comparing to men,
as the result of changes in the economic activities of women in the last half
of the 20th century. When baby boomers retire and exit the working
population, this will create a vacuum, because the numerically smaller
generations will enter working population, while the sudden and very shortly,
the number of population older than 60 or 65 will increase, most of them will
likely to acquire the right to a pension. It is undeniable that baby boomers
had impact on demographic structure, but also on society as a whole. They
have been extremely important factor of development of our country during
their working career, they are healthier then previous generation and many of
them possess the knowledge and experience gained by the years, so rigid
prediction of future changes that will produce the retirement of this
generation has no excuses. Retired baby boom generation will perhaps lead to
new, better way of life in old age.
Doug Owram. Born at the Right Time: A History of the Baby
Boom Generation, Toronto: University of Toronto Press, 1996. Pp.
xiv, [10] 392.
