Projections show that the percentage of senior citizens will be larger than that of young people in various parts of the world. Although this trend brings some positives, I believe that it is generally disadvantageous for families and countries.
On the one hand, one advantage of ageing population might be a more experienced and skilled labor force. This benefits companies and organizations as people who have been working for a long time tend to make wiser decisions, which is less likely to cause losses. An evidence of this is that a large number of people in senior positions are the elder people who have had more than 10 years of tenure. These people can also train novice personnel, who are fresh graduates with minimal experience, until they can fully hold a position.
On the other hand, the expected growth in life expectancy may lead to a lack of people in the working age, which in many countries is currently set at 60 to 65 years old. As a result, companies will have to seek employees overseas, and more people have to depend on their families for the means when they retire. This places financial burdens on families when the younger generations have to pay for the elder ones’ healthcare and daily necessities. Also, this trend may increase insurance premiums, which put taxpayers under strain, since the likelihood of contracting diseases increases as people age.
In conclusion, although ageing population provides a more experienced and adept labor force, it means that less people will be capable of working and thus puts younger generations under financial pressure.
Projections
show
that the percentage of senior citizens will be larger than that of young
people
in various parts of the world. Although this trend brings
some
positives, I believe that it is
generally
disadvantageous for families and countries.
On the one hand, one advantage of
ageing
population might be a more experienced and skilled labor force. This benefits
companies
and organizations as
people
who have been working for a long time tend to
make
wiser decisions, which is less likely to cause losses. An evidence of this is that
a large number of
people
in senior positions are the elder
people
who have had more than 10 years of tenure. These
people
can
also
train novice personnel, who are fresh graduates with minimal experience, until they can
fully
hold a position.
On the other hand
, the
expected
growth in life expectancy may lead to a lack of
people
in the working age, which in
many
countries is
currently
set at 60 to 65 years
old
.
As a result
,
companies
will
have to
seek employees overseas, and more
people
have to
depend on their families for the means when they retire. This places financial burdens on families when the younger generations
have to
pay for the elder ones’ healthcare and daily necessities.
Also
, this trend may increase insurance premiums, which put taxpayers under strain, since the likelihood of contracting diseases increases as
people
age.
In conclusion
, although
ageing
population provides a more experienced and adept labor force, it means that
less
people
will be capable of working and
thus
puts younger generations under financial pressure.