McKinsey Health Institute - Ageing with Purpose: Why Meaningful Engagement with Society Matters

This 2023 report from the McKinsey Health Institute examines the understated value and potential older adults offer society. The support and financial input older adults can give to a country are often overlooked.

The report says that older adults are happier and healthier when they engage more in society – and that this benefits all members of society, no matter their age. Encouraging older adults who want to work but aren’t employed to re-enter the workforce could add 4.8% to GDP in the UK and over 7% in the USA.

The report states that empowering older adults to be active and visible in their local communities is a great way to gradually shift ageist beliefs toward a view that is more representative of the local older population. It notes that intergenerational contact strategies are among the most effective interventions for reducing ageism against older people.

Aging with Purpose: Why Meaningful Engagement with Society Matters concludes that greater societal participation of older adults benefits everyone: it can improve the social and mental health of older adults, boost GDP, and offer intergenerational connections for younger members of society.