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 response to this growing dilemma is to increase ageing population’s labor participation through reducing the barriers of remaining aged population’s workforce attachment such as introducing age anti-discrimination legislation and flexible retirement system to enable people more freedom of choice regarding the timing of staying in workforce and remain economically active as workers and tax-payers into old age. Increasing ageing population’s labor participation strategically improves the financial situation of elderly people, reduces the fiscal burden on pension and maintains a dynamic labor market and lively economy.
The first argument for increasing ageing population’s labor participation is that it ensures aged people’s economic independence and decreases the likelihood of suffering from poverty as people grow old. 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 Intern...
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... the dependency ratio have rise from 15% to 20% from 1980 till 2012 and is projected to reach 36% in 2050 as a result of population ageing (Rafal, John 2012, p.5). In recent years, population ageing has been increasingly noticeable, in order to solve this problem, Australian’s government has developed policies aimed at lifting ageing population’s labor participation (Abs.gov.au 2010). In the past 10 years, the labor force participation rate of ageing population has increase 10% and this growth has became increasingly important to solve the problem results from population ageing (Abs.gov.au 2010). In conclusion, increasing ageing population’s labor participation is the most strategic solution to minimize the negative effects of population ageing, resulting in better financial situation, a reduction of fiscal burden, dynamic labor market and stably developing economy.
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