Promoting the health and wellbeing of older people: making an economic case

This chapter focuses on the wellbeing of older people. It looks at what is known about some of the economic impacts of poor wellbeing in older age, as well as the potential economic benefits of better wellbeing. Contrary to popular opinion, older people make a substantial positive net contribution to the economy through activities such as the provision of informal care, looking after grandchildren, paid employment, and engaging in volunteering. Investing in wellbeing can help further facilitate these benefits, as well as reduce the need for some health-care services. Cost-effective actions that can be taken include various social and group activities to counter social isolation and loneliness. Psychological therapies can also be used to help prevent depression in both the general older population and higher risk groups, including the bereaved. Evidence on the cost-effectiveness of measures to tackle poverty, make use of new social media to combat isolation and encourage participation in adult education are needed.