Minister of Economy and Labour, Jason Hayward, will host a news conference this afternoon, at 1:30pm, on the challenges of Bermuda’s ageing population.

The conference will be broadcast live on the Government’s Facebook page, YouTube channel, and CITV.

Senior citizens continue to represent the fastest growing segment of Bermuda’s population, which climbed from 16.9 percent in 2016, heading for the 24.9 percent anticipated in 2026.

According to figures in Bermuda’s Population Projections 2016-26 Report by the Department of Statistics, the island’s population is expected to drop in total from 63,791 to 63,680, representing a fall in the yearly birthrate from 9.3 per 1,000 people to 7.3, and a rise in the death rate from 7.6 per 1,000 people to 9.4.

By 2026 Bermuda will have fewer people than today, the report says.

Fewer births also means “far-reaching consequences” for things like the Government’s Contributory Pension Fund.

We’ll have more on the Minister’s statement later.