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In contemporary era, life expectancy and birth mortality has been shoot up due to development. However, there are some challenges raised as a side effect of growth. For instance, ageing inhabitants creating huge financial burden to the country. This essay will explain issues and measures which government and individual should take for mitigate the problem.
Firstly, the predominant issue is increasing number of retired people in the country. The authority has to give pension to these for longer period. As a result, Government has to keep large budget aside for supporting these, causing big dent in their fund. Moreover, Ministry is increasing mandatory contribution from younger generation that is tax whether they are employees or businessmen, affecting individual’s personal life. Secondly, older generation depends upon their children, younger people have to spend large amount of money and time in supporting them medically. Additionally, they are not able to concentrate over work and explore their capabilities to do extra work.
Although there are so many solutions for this problem, first is Government can increase retirement age for the older people so that they can support themselves. In addition to that immigration process can be made easy so that old age people can shift to developed nations. For example many developed countries are providing free healthcare and basic income for senior citizens which can help in reducing burden to the underdeveloped countries
In conclusion, rise in the age period has many side effects to the society. However, it can be controlled by implementing some rules and regulations to relief this issue in some extend.
