Given that labor supply and savings are higher among working age adults than among those aged 65 or above, it can be expected that a country with a large cohort of elderly is likely to experience slower growth than one with a lower elderly share.
Nevertheless, future behavioral changes cannot be excluded – for example, individuals might decide to increase saving over their working-life in view of the projected increase in life expectancy. Ageing societies are expected to face mounting health and pension spending pressures putting at risk public finances which, in turn, will further reduce future growth prospects.