Nowadays, many
countries
are experiencing substantial increases in
life
expectancy
. Many
people
think that the trend is a positive development, but it has caused many onerous problems for many
countries
.
This
essay will discuss the effect of the ageing
population
, and some of the ways that could be considered in addressing the problem.
There are several drawbacks that increasing the average
life
expectancy
of older
people
could bring to individuals and society.
Firstly
, the growing
population
of elderly
people
puts a financial burden on governments. If
life
expectancy
increases, the
government
will have to pay more expenses
such
as social welfare and pension while fewer
people
will be working and paying income taxes.
In addition
, older
people
are more vulnerable to chronic diseases,
such
as heart attacks or diabetes, that require special and expensive medical treatments to be effectively treated.
Therefore
, the
government
might have to devote a larger budget to healthcare in order to serve the growing demands of an ageing
population
.
As a result
, it reduces the national budget and weakens the economic growth of the country.
Secondly
, ageing has a direct impact on the labour market. If there are a higher proportion of old
people
, the
government
will have to decide to extend the
retirement
age
. As a greater number of senior citizens stay in the workforce, the competition for jobs will
increase
. If the world of work fails to create new jobs, the end results can be fewer occupations available to younger
people
and the rate of unemployment in the world will
increase
day by day.
On the contrary
, if the
retirement
age
is not extended, the economy will suffer from a labour crisis. The ageing
population
leads to a shrinking workforce because there are fewer
people
of legal working
age
.
There are some measures that governments could consider to resolve the issue of increasing
life
expectancy
. One of the ways is that governments could extend the
retirement
age
standard. Many
countries
have a standard pension
age
of 55, but they can extend it to 60 or even
further
over because most
people
at
this
age
are still in fine physical condition good health and have normal working capacity. From there, it would reduce the
government
's social welfare budget for retirees and address the workforce shortage.
This
has been applied and proven its effectiveness in many
countries
that are developed and have a high
life
expectancy
.
For example
, in some developed
countries
like Japan or France, the
government
has raised the
retirement
age
to over 60 years old and even
further
is expected to continue to
increase
in the future. Another measure is to encourage childbearing and the immigration of young working adults.
This
will help the country reduce the ageing rate of the
population
and create a source of young labour for the country.
In addition
,
this
could help
increase
tax revenues for the
government
.
This
measure, as one can see, is are increasingly being popular in
countries
such
as Canada.
In conclusion, the rising
life
expectancy
brings its own issues to the individual as well as to the society.
However
, effective measures can be taken to mitigate these issues in the long run.