Population ageing is a major success story of our time, but it also poses challenges and population ageing is an inevitable and irreversible consequence of the demographic transition towards longer lives and smaller families. It is not limited to countries in advanced stages of the transition but starts to unfold already in relatively youthful populations.
Countries are at different stages of population ageing. It is important in all stages to ensure that the productive capacity of the economy can support the consumption needs of a growing older population.
Countries in early stages of the demographic transition need to plan ahead so that they can effectively manage the challenges, as well as the opportunities, of population ageing.
Giving every person an equal chance to grow older in good health and with economic security starts by promoting equal opportunities from birth
Ensuring that everyone has access to quality education, health care and decent work opportunities throughout the life course can help to boost economic security at older ages and reduce inequalities among older persons.
It can also ease pressures on public pension budgets and other ageing-related expenditures.
Olderpersonsshouldbeabletocontinueworkingforaslongastheydesireand are able, but should not be compelled to do so
In implementing pension reforms, such as raising the retirement age, Governments should consider the circumstances faced by different groups of workers. Instead of a uniform approach, they may consider establishing flexible, phased or partial retirement policies with guaranteed universal minimum benefits.
Governments should work to eliminate barriers to the participation of older people in the labour force while also supporting their learning and skills development throughout the life course.
Governments should balance the need for fiscal sustainability of public pension systems with the goal of ensuring income security for all older persons
All older persons should be covered by a pension, but strategies to expand coverage can vary. The overall direction should be towards introducing or expanding tax-funded pension schemes that provide basic income security to all older people, including workers in informal employment, and on reducing or eliminating gaps in coverage.
Governments should enable the expansion of decent work opportunities for women and other groups traditionally excluded from the formal labour market, both to secure their well-being at older ages and to expand the productive capacity of the economy. Pic Courtesy: The UN
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