An older population offers numerous challenges to labor markets, government investing, government tax, as well as the bigger economy.
Amongst the great achievements is a remarkable rise in life span. For example, life expectancy has boosted from 45 in 1902 to 75.7 in 2004. Even in the past 50 years, the life span has risen in a lot of western economies.
However, raised life span combined with declining birth rates has caused lots of to worry about the effect of an aging populace. Regularly, we read about a group time bomb, and the concern future generations will struggle to meet an ever before increasing variety of retired workers as well as pension plan commitments.
However, are we deal with be fretting about an aging society [สังคม สูง วัย, which is the term in Thai]?
Firstly, the proportion of people of functioning age, to people over 65 might fall from 3.7-1 in 1999 to 2.1-1 in 2040. This suggests a large increase in the dependence ratio and is as a result of a reason for concern since, with present spending pension plan dedications, it will place a higher concern on the shrinking working population.
Nevertheless, others say it is an error to base estimations exclusively on a fixed old age of 65. If the life span increases substantially, you would anticipate a reasonable policy is to allow some increase in the retirement age, e.g., keeping the same percentage of your working life for retirement. The government has made tentative steps to raise the retirement age as well as enhance the duty of private-sector pensions. These plans will make an aging population extra workable.
In recent years, the effect of an aging population has likewise been alleviated by an increase in internet movement levels. There is an expectation net migration level will fall. A side-effect of lower migration will be a faster climb in the reliance ratio.
