These days, many elderly people living longer after their retirement.This trend could lead to several undesirable consequences for both the individuals and the government.
There are several problems that may arise when elders live longer into their retirement. First of all, if more people live longer, governments must pay pensions for more years. A larger portion of the population will require financial assistance from the government which can have an impact on the country’s economy, such as a raise of taxes and an expansion of pension fund. Secondly, the older a person becomes, the more vulnerable they are to sickness and disease. This can have a significant impact on country’s healthcare systems, hindering economic development. Older people need more medical care and long-term treatment, it means that hospitals and care homes may become crowded and governments must spend more money on healthcare services for the elderly.
However, there are several solutions that should be taken into consideration to deal with this problems. Firstly, employers can work longer if they are healthy, reducing the pressure on pensions. Raising the retirement age from 65 to 68 means people contribute to old-age pension system for more years and receive benefits for fewer years. Furthermore, inhabitants should stay active and healthy even after the retirement. It is necessary for the country to provide regular partial health check-ups or free fitness programs that can prevent serious illnesses and reduce long-term medical care, without placing a burden on government budgets. For example, in Kazakhstan there are several specialized programs that provide elders to visit with the expert(doctor) and get free treatment, avoiding burdening both the family and country’s budget.
In conclusion, after retiring, people are living longer that leads to issues, such as pressure on country’s economy while this issue can be prevented by adding health check requirements making some reduction and coverage, as well as raising the pension age.