The population of the elderly in developed nations is indeed larger than ever. This essay will discuss some of the possible brunts of greater life expectancy to both individuals and society and suggest several steps to overcome the same.
As the people live longer and populations in industrialised nations grow older, an array of related problems can be anticipated. The primary problem would be the financial burden on the family member who is caring for their elderly relative. It is universally acknowledged that elderly people have greater medical expenses. Therefore, the caring young person has to pay the medical bills of their elderly in addition to their bills. Furthermore, from the government's perspective, with an increased average life expectancy of their citizens, there would be more pensioners in relation to the population size. More of the national funds would be spent on providing pensions to elderly rather than developing the country. This would also mean greater tax burden on young, working adults.
Nevertheless, the menace of this trend of increased average life expectancy can be overcome by twofold solutions. Firstly, the official authorities should raise the retirement age. This is because, in today's world, many are still very much healthy and productive at 65 years old. Malaysia, for example, should increase the compulsory retirement age from 60 to 65 years old. Secondly, the country should encourage immigration of working-class people into the country to mitigate the problem of the greater population of elderly citizens. In terms of tax money, the government will obtain greater revenues this way as there would be more taxpayers.
In conclusion, the increased average life expectancy merits some consideration as it causes financial burdens to young adults besides reducing the tax return of a nation. Nonetheless, in tackling this issue, the retirement age should be increased and the immigration of working adults in developed countries should be encouraged.
The
population
of the
elderly
in developed nations is
indeed
larger than ever. This essay will discuss
some of the
possible
brunts
of greater
life
expectancy to both individuals and society and suggest several steps to overcome the same.
As the
people
live
longer and
populations
in
industrialised
nations grow older, an array of related problems can
be anticipated
. The primary problem would be the financial burden on the family member who is caring for their
elderly
relative. It is
universally
acknowledged that
elderly
people
have greater medical expenses.
Therefore
, the caring young person
has to
pay the medical bills of their
elderly
in addition
to their bills.
Furthermore
, from the
government
's perspective, with an
increased
average
life
expectancy of their citizens, there would be more pensioners in relation to the
population
size. More of the national funds would
be spent
on providing pensions to
elderly
rather
than developing the
country
. This would
also
mean greater tax burden on young, working adults.
Nevertheless
, the menace of this trend of
increased
average
life
expectancy can
be overcome
by twofold solutions.
Firstly
, the official authorities should raise the retirement age. This is
because
, in
today
's world,
many
are
still
very
much healthy and productive at 65 years
old
. Malaysia,
for example
, should increase the compulsory retirement age from 60 to 65 years
old
.
Secondly
, the
country
should encourage immigration of working-
class
people
into the
country
to mitigate the problem of the greater
population
of
elderly
citizens. In terms of tax money, the
government
will obtain greater revenues this way as there would be more taxpayers.
In conclusion
, the
increased
average
life
expectancy merits
some
consideration as it causes financial burdens to young adults
besides
reducing the tax return of a nation. Nonetheless, in tackling this issue, the retirement age should be
increased
and the immigration of working adults in developed
countries
should
be encouraged
.