Demographic ageing is a trend resulting from both a decrease in fertility and mortality rates and a higher life expectancy among European populations. The median age across the EU is expected to rise to 47 years old by 2050 and may be much higher in some countries. The European Social Fund is Europe’s main instrument for supporting jobs, helping people get better jobs and ensuring fairer job opportunities, thus addressing many of the issues raised by demographic ageing such as the need for many older workers to remain in or get back into the labour market. In Cyprus, the Fund has financed the 'Aid Scheme', a program which encourages Cypriot employers to hire full-time people over 50 years-old, by covering a part of their salary. Over the last 3 years, Aid Scheme has helped around 1,200 people over 50 years old to find a job. Training and retraining are also important as they enable people to re-enter the labour market, according to Andreas Matsas, General Secretary of the Cyprus Workers' Confederation. Nobel Prize-Winning Economist Christopher Pissarides says that health as a sector of the economy will attract more spending and generate more employment. He argues that pension systems should better take into account life expectancy and be fully funded.