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Approaching Aged Society
Steps for Welfare of Old People
Should Be Prepared
The Korea Times
October 3, 2004
Even though an aged society is rapidly approaching, there are virtually no means to enhance the welfare of the elderly. To make matters worse, their lives are further threatened because a substantial number of them are unable to find jobs, despite their capabilities.
According to a tally from the National Statistical Office, the number of senior citizens over 65 years old accounts for 8.7 percent of the nation's total population this year, up 0.4 percentage points from last year. The office predicted that the proportion would surpass 14 percent in 2019, meaning that the nation will become an aged society. It also forecast that the elderly would outnumber youth from 2020.
Despite the alarming pace in which the nation is moving to an aged society, preparations for it are considered to be extremely poor. The increase in the number of senior citizens will impede social dynamics, as it will reduce the number of people who are economically viable. Furthermore, the low birth rate will add to obstacles to economic growth. Consequently, the social burden of supporting the elderly will sharply increase.
This year, each senior citizen is supported by 8.2 persons aged between 15 and 64. The figure is forecast to drop to 4.7 in 2020 and 2.8 in 2030, raising concerns about the heavy burden of supporting the elderly.
Besides the low number of senior citizens who are working, the level of the welfare system for them is also deplorable. In other words, the nation's financial management will be compromised because of the sharp increase in expenditure in order to enhance the welfare of old people. The result will be lowering the quality of living for the entire population.
However, there is no other way but to take due steps in preparations for the arrival of an aged society, taking lessons from advanced countries that are running competitive systems in taking care of senior citizens.
Against this backdrop, the government needs to come up with comprehensive measures to cope with the ageing society as quickly as possible. In particular, the government ought to map out immediately a blueprint for raising expenses for the welfare of senior citizens, reducing the additional burden of taxpayers as much as possible.
In the meantime, the government and the corporate world should combine efforts to create jobs for elderly people who can still work. It is a waste of the nation's energy if able senior citizens with rich experiences are barred from entering the job market simply because of their age. Now is also the time to increase the retirement age in light of the rapid increase in the number of old people.
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