Demographic change requires modern responses

Today, representatives from politics, the business world, academia and society met at an international public dialog event held at the Allianz Forum in Berlin. The event focused on the issue of "Social and Demographic Change in the 21st Century".

 

Keynote speaker Wolfgang Schäuble, Federal Minister of Finance, explained how important sustainable public finances are when it comes to mastering the challenges of demographic change. "Sustainable public finances and demography are interdependent. Without sustainable public finances, we will not be able to cope with an aging society. However, we will also not be able to guarantee sustainable public finances if our economy does not continue to grow - and the necessary basis for this is a sufficiently qualified workforce to safeguard sustainable public finances as taxpayers", according to Schaeuble. The global challenges that demographic change creates were addressed in another keynote speech by Jan Eliasson, Deputy Secretary-General of the United Nations. Young academics from across the globe took part in a panel discussion to talk about key demographic trends and their impact on both individuals and society as a whole from the perspective of the younger generation.

 

"Our societies are undergoing profound change as they get older and digital technology becomes more widespread. This will alter the face of tomorrow's society completely", explained Michael Diekmann, CEO of Allianz SE.

"Our societies are undergoing profound change as they get older and digital technology becomes more widespread. This will alter the face of tomorrow's society completely", explained Michael Diekmann, CEO of Allianz SE.
"Our societies are undergoing profound change as they get older and digital technology becomes more widespread. This will alter the face of tomorrow's society completely", explained Michael Diekmann, CEO of Allianz SE.

How, for example, is the increasingly digital working world changing the scenarios for the productivity and employment trends on which the pay-as-you-go statutory social security systems are based? To what extent does the existing three-pillar retirement provision system have to be modernized if realistic interest rate scenarios are applied? And what requirements do immigration as well as education and tradition have to meet if productivity and competitiveness are adapted to reflect the consequences of digitalization in an ageing society?

 

"The dynamic development in these three areas – immigration, low interest rates and digitalization – has the potential to cast the consequences of demographic change in an entirely new light", said Diekmann, adding "Tackling these central issues is a matter of inter-generational equity".

Wolfgang Schäuble, German Federal Minister of Finance
Wolfgang Schäuble, German Federal Minister of Finance

Impetus for solution-oriented dialog

 

A new Allianz publication also looks into the impact that the megatrends of demographic and climate change will have on the life of future generations. The compendium entitled "Our world and us" contains articles from renowned international academics and internal Allianz experts. They investigate the impact that the megatrends of demographic and climate change will have on the life of the generations to come. These analyses are not limited to fascinating, if sometimes worrying, facts. Rather, they offer insightful analyses, projections for the future and propose specific solutions.

 

"Society will only be able to maintain the room for maneuver it needs if problems are thought through. Our objective has to be to preserve quality of life in old age, keep intergenerational relationships balanced and boost our economic productivity", said Diekmann in Berlin.

 

125th anniversary of Allianz - focus on social challenges

 

Allianz was set up in 1890 in the midst of an era of fundamental change. To commemorate its 125th anniversary, Allianz is focusing its activities on the key challenges facing tomorrow's society. It wants to place special emphasis on demographic and climate change, initiating constructive dialog on these issues. In addition to today's event in Berlin, another international dialog forum on climate change will be held by Allianz on April 21 in Munich.

Jan Eliasson, Deputy Secretary-General of the United Nations
Jan Eliasson, Deputy Secretary-General of the United Nations

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer:

 

Petra Krüll
Allianz SE
Phone +49.89.3800-2628
Send email

Nicolai Tewes
Allianz SE
Phone +49.89.3800-4511
Send email

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