Aged population is rising rapidly in many countries. Although a section of society advocates that older people are important for the development of the country, I, however, hold the view that it creates several issues in their countries.
On the one hand, proponents of former view consider that retired persons are assets to their homelands. The reason could be that they are an ultimate source of knowledge because of their vast life experience. They can provide valuable suggestions in critical decision making, leading to savings of time and money. For instance, if they are not working and earning, can voluntarily guide young learners as their teachers in selecting courses. This way, they can contribute in the society’s development up to some extent.
On the other hand, I side with those who argue that rise in number of older people causes burden on state exchequer. The reason behind that is they have no source of income and are not able to work because of their age. In most countries, states provide old age pension, health insurance, and old age shelter for their retired population which in return providing nothing to state. Another significant cause is that shortage of young manpower for industries due to rise in old age people, leading to decline in industrial output. Governments have to import various utilities to fulfill their requirements, making loss of foreign currency deposits. Therefore, aging population leads to weakening the economic conditions of many nations.
In conclusion, although retired people can provide guidance, however, governments have to spend a lot on providing many amenities to them which leads to economic crisis. Therefore, I maintain that it puts pressure on the financial condition of the nation.
Aged population is rising
rapidly
in
many
countries. Although a section of society advocates that older
people
are
important
for the development of the country, I,
however
, hold the view that it creates several issues in their countries.
On the one hand, proponents of former view consider that retired persons are assets to their homelands. The reason could be that they are an ultimate source of knowledge
because
of their vast life experience. They can provide valuable suggestions in critical
decision making
, leading to savings of time and money.
For instance
, if they are not working and earning, can
voluntarily
guide young learners as their teachers in selecting courses. This way, they can contribute in the society’s development up to
some
extent.
On the other hand
, I side with those who argue that rise in number of older
people
causes burden on state exchequer. The reason behind
that is
they have no source of income and are not able to work
because
of their
age
. In most countries, states provide
old
age
pension, health insurance, and
old
age
shelter for their retired population which in return providing nothing to state. Another significant cause is that shortage of young manpower for industries due to rise in
old
age
people
, leading to decline in industrial output.
Governments
have to
import various utilities to fulfill their requirements, making loss of foreign currency deposits.
Therefore
, aging population leads to weakening the economic conditions of
many
nations.
In conclusion
, although retired
people
can provide guidance,
however
,
governments
have to
spend a lot on providing
many
amenities to them which leads to economic crisis.
Therefore
, I maintain that it puts pressure on the financial condition of the nation.