As the world becomes more developed, the mortality rate is decreasing. As average life expectancy rises, problems arise for both individuals and society such as increased burden on children and a larger share of government spending in pensions. However, to combat this situation, the option to continue work and improvement in public retirement homes and public services can be implemented.
Due to people living longer, especially the elderly, it imposes a burden on their family to take care of and support them. As a significant amount of time and money goes into taking care of the elderly, this causes a huge financial burden as expenditure has to be allocated into daily necessities, health and other needs. This causes a greater issue for instance, in families of all working individuals, who can’t be home to look after the elderly, leading them to spend even more money on caretakers. Another problem is that a higher amount of money needs to be spent on pensions by the government. As more money has to be budgeted to pay for pensions, this can take a toll on the money available to work on other improvements such as better infrastructure and services which could prove more useful to a wider population.
A solution to this issue could be to give the elderly the option to continue working if this causes no issues to their health. By doing so, a lot of pressure on families is lifted as the person can keep earning a living allowing them to be able to continue supporting themselves. Additionally, this can also improve the mental health of the elderly as instead of for example- spending their days bored and lonely at home, they are kept occupied, providing them with a sense of belonging and self-worth. Moreover, another fix could be to invest in better public retirement homes and services so they can be available at a cheap price. This also reduces the burden on families as this provides a safe, trusted place of quality care without the huge financial burden that comes with it. The government can also benefit from this income as well as saving funds in insurance for health issues as there is less chance for hospital visits to arise if great care is given in the first place.
Life expectancy is bound to increase as the world becomes more developed which can cause problems such as increased burden on families and higher spendings on pensions, however, there are solutions to combat the issue such as the option to continue work and improvement of public services. As the population of elderly rise, it is important to find ways to provide the best quality of life while lessening the burden on other parties.