Persuasive Essay On Aging Population

Persuasive Essay:

In recent decades, population ageing has become an increasingly noticeable global problem. The trend of population ageing is gradually transforming the chain of socio-economic structure and hampering a nation’s development (Mukherjee, 2015). It is predicted that the working-age population will keep declining in the context of population ageing which will eventually lead to a slump of national productivity and also economic recession (UNFPA, HelpAge International, 2012). However, the changing circumstances of postindustrial era enable mature age workers today extend their working life as a result of longer life expectancy, healthier body, better educated and less physically demanding work (Judith, 2004). The most effective

With the globally financial crisis, it is becoming more common that elderly people have insufficient access to a pension which leads to a lack of stable income (UNFPA, HelpAge International, 2012). An ageing population, therefore, has higher likelihood to be threatened by poverty and lack of financial security (UNFPA, HelpAge International, 2012). In addition, lager expenditure and greater levels of poverty exist when people live with aged people. The introduction of incentive policies such as age anti-discrimination legislation can result in fewer barriers to attach labor force and better financial situation of ageing population. UNFPA (2012) argues that the fixed retirement system actually “discriminates against older people” (UNFPA, HelpAge International 2012, p. 59). The Japanese government has required employers to extend the employment age to 65 which result in the labor participation for elderly men aged 60-64 increasing to 77% in 2009 (Bloom et al. 2011). Greater proportion of aged population contribute to workforce means that more elderly citizens have a resource of stable income, therefore, the possibility of suffering from a scarcity of financial crisis and poverty would

Due to the problem of population ageing, governments are facing a serious challenge of fiscal burden which result from the number of pension beneficiaries is rising while the number of contributors is decreasing (Bloom et al. 2011). Australian Bureau of Statistics (2010, p.3) suggests that increase “the labor force participation rate of older people” is an efficient way to soften the fiscal pressure results from population ageing. The result of aged people participate into workforce is lessened dependence on government pensions, which contribute to ease government’s fiscal pressure (Adair, Tim and Meimanat, 2011). According to a research of Treasury, a 10% increasing labor participation rate of 59-69 years old people would close 2.75% fiscal gap (Treasury, 2010). Furthermore, due to the increasing ageing population’s labor participation, more elderly citizens play a role in contributing to tax revenue which causes a reduction of government’s fiscal