the consequences of the longevity boom
In the developed world, average life expectancy is increasing. What problems will this cause for individual and society? Suggest some measure that could be taken to reduce the impact of aging populations.
In recent decades, people in many countries around the world, especially those in developed countries, have enjoyed the longer longevity than ever. This trend, however, poses the burdens on society and individuals, which requires immediate actions from governments.
The increasing life expectancy translates problems to the workforce and healthcare system. It is obvious that the bigger the proportion of retired people who are eligible to pension payment, the smaller the number of working people who are the main contributors to social wealth and pension fund. This hinders the tax burden on working adults and the risk of pension fund deficit. Another difficulty is relate to the healthcare system. The existing healthcare facilities and workforce have become overloaded with the growing demands from the ageing population.
Various actions should be taken to address the issue. The first and foremost solution is to rise the working age. This would take advantage of the experienced and highly skilled elderly working people as well as prevent the risk of pension fund deficit. Secondly, law on childbirth should be enacted to encourage people to have more children. Finally, government may encourage immigration to make up for the shortage of laborers in certain fields. By doing this, the number of young adults can be increased and the economic growth driven forces can be maintained.
In conclusion, the longer life expectancy has lead to various drawbacks including the shortage workforce and the overload healthcare system. Therefore, government should take concrete actions in order to mitigate the aforementioned problems.