It is quite obvious to recognize that many developed
countries
are experiencing remarkable increases in
life
expectancy
.
This
essay will discuss some possible problems
this
trend can bring and propose several solutions to handle those .
One of the major challenges of the growth of elderly
people
is that it seriously puts a heavy burden on the economy and
government
expenditure due to the greater funding demands of retired
people
.
For instance
, older
people
are more unable to earn
money
and make ends meet by themselves ,
thus
, the more
people
claim pension benefits , the more the
government
struggles to meet an
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number of retired workers and pension commitments . Another problem of growing
life
expectancy
is that it leads to
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shortage of labour as well as wage inflation in the working environment . Because of the shrinking working population , many companies have to push up the salary to attract more employees to work for their organization . As a consequence , wage inflation is much more prevalent among these developed
countries
.
The
government
could certainly make more effort to mitigate these negative effects of increasing
life
expectancy
. The
first
solution would be to educate
people
about the importance of
money
management and saving for retirement . By adhering to a strict budget, older
people
will have a certain amount of
money
to pay their bills and take care of themselves without support from their children or the
government
, which could reduce the burden on the economy of their
countries
.
Finally
, the
government
can provide great opportunities
such
as scholarships or accommodations for abroad students to come , study , and
also
work in their
countries
. By encouraging the immigration of young
people
, not only lack of labour but
also
wage inflation can be remarkably alleviated .
In conclusion , it is evident that there are several problems of increasing
life
expectancy
, including greater funding demands as well as
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of young workers , and a variety of solutions, especially raising public awareness of
money
management and encouraging young migrants of working age .