Adding Life to Retirement Years

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Adding Life to Retirement Years by The Hon. Tam
Yiu Chung Chairman, Elderly Commission 15
February 2003
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• Topics
• Background and Introduction
• Contribution of Older Persons to Society
• Retirement Age
• Senior Volunteerism
• Preparation for Retirement
• Intergenerational Relationship and
• Continuing Education
• Way Forward

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17.2
14.4
12.2
11.9
11.2
10.2
Source Census and Statistics Department
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Source Census and Statistics Department
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Population Ageing is first and foremost a
success story for public health policies as well
as social and economic development
Gro Harlem Brundtland, WHO Director General
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Elderly Commission Symposium on Challenges and
Opportunities of an Ageing Population 8 June
2002

• first of its kind in Hong Kong, a multi-sectoral
  and multi-disciplinary approach to discuss the
  implications of population ageing

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Elderly Commission Symposium on Challenges and
Opportunities of an Ageing Population 8 June
2002

• policy framework for an ageing society
• economic and business perspectives of population
  ageing
• public perception of ageing
• changing workforce and concept of retirement
• built environment
• changing healthcare focus

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Contribution of older persons to society
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Elderly Dependency Ratio

• the number of persons aged 65 and over per 1,000
• persons aged between 15 and 64
• people in the age group of 15 to 64 years old
• support persons aged 65 or over
• assumption as population ages, fewer workers to
• support more older persons

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But the question is are societal wealth and
productivity only generated by persons in the age
group of 15 to 64?
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• The fact is, older persons are going to be
• more healthy
• better educated
• and will aspire to play a different role in
  society

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• not so long ago, a report of the League of
  Nations, in anticipation of post World War II
  labour requirements, described population aging
  as a major problem for industrial economies where
  maximum productivity was thought to be reached by
  men under 35
•  

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• Research shows
• older workers are usually willing and
• enthusiastic about learning new skills
• older workers can learn, although
• training techniques may need to be adapted
• lower absenteeism and staff turnover
• among older workers

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• Research shows
• initial cognitive functioning of most individuals
  is higher than that needed for most ordinary
  tasks
• older persons are still fit to work at 75 years
  of age with their IQ and EQ intact
• while some older workers may be less flexible and
  adaptable, they are more reliable, conscientious,
  and loyal

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Employment of older people can be a very positive
socio-economic factor. Older workers

• continue to pay taxes
• contribute to retirement fund schemes
• generate wealth for themselves and society

Being employed enhance personal dignity and keep
people out of poverty.
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Retirement Age
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Retirement age came into being in about 1889

• at the time the average life expectancy was 55
  years
• manual labour was the norm
• life in retirement was much shorter

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Today Hong Kongs average life expectancy for
men and women are 78.4 and 84.6 years
respectively

• with people living longer, healthier lives,
• can we afford to spend less time working
• and ever more time in retirement?

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Retirement Age in

• USA - being gradually raised to 67 years
• Japan 69 years
• Korea - 67 years

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Flexible or part-time work arrangements for older
persons -

• would not block the advancement of younger
  workers, while retaining valuable insight and
  expertise for the employer
• likely to become a necessity as the population
  ages

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• a study has shown that late retirees who
  retired after the age of 65 tended to die within
  two years after retirement (Sing Lin, Ph.D, Mar
  2002 Optimum Strategies for Creativity and
  Longevity )
• but other studies also show that people who
  retire earlier also die earlier

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• important message is that we should all take
  care of our health, have proper leisure and
  relaxation throughout life
• people should be given a choice as to whether
  or not to retire, or to continue working
  part- time

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Change societys attitude towards retirement and
retirement practices -

• consider how employment practices could be
  reinvented so that older persons can continue
  working to the benefit of the employers,
  themselves and society at large

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Labour Force Participation Rate
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Senior Volunteerism
Apart from paid employment, older persons can
still make positive and productive contribution
to society through volunteer work.
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Senior Volunteerism

• over 200 000 volunteers, many of them are older
  persons, in non-governmental sector
• 12 000 elder volunteers in Social Welfare
  Departments Senior Volunteer Programme
• 1 000 elder health ambassadors in Elderly
  Commissions Community Partnership Scheme
  projects

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• the contribution of volunteer work are estimated
  at between 8 and 14 of Gross Domestic Product
• consider ways to recognize the value of voluntary
  work by older persons in Hong Kong

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Volunteering as a broader community investment
strategy and means of staff development

• time-off with pay for their staff
• financial support or assistance in kind
• company volunteering schemes
• recognize and support existing staff involvement
  with voluntary organizations

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• Opportunities for retiree professionals to share
  their experience and serve the community in
  sectors that are usually not involved in ageing
  related issues

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Preparation for Retirement

• exit programmes for retiring employees for active
  and healthy ageing
• healthy and active retirees lessen demands on
  public medical and social services
• generate business opportunities investment
  management, travel services, health products,
  etc.

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• Intergenerational Relationship
• Continuing Education
• Reinvest in Ageing

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Decrease in average household size and Increase
in households with persons 65
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Intergenerational Gap

• growing segregation of the older and younger
  generations in the domestic setting
• the chasm made greater with the digital gap
• dwindling interaction between different age
  groups
• deterioration in the younger generations
  perception of older people

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Continuing Education

• older persons pursue lifelong learning
• update themselves and keep up with technological
  advances in every day living
• self-enrichment
• reconstruct the image of ageing and improve
  intergenerational connectivity

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Reinvest in Ageing

• compartmentalized life course
• - education when young
• - work in adulthood
• - leisure after retirement

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Reinvest in Ageing

• integrated life course-
• lifelong learning interspersed with periods of
  work and leisure and self-reflection
• promotion of lifelong learning among elders-
• joint process of individuals, families,
  communities and Government

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Elderly Commission

• advocate preventive and life-course approach in
  health and positive image of ageing in the
  Healthy Ageing Campaign
• promote active and healthy ageing according to
  the World Health Organization Policy Framework on
  Active Ageing

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Initiatives to be considered

• rethinking retirement and human resources
  practices
• review volunteering activities for older persons
  and explore new opportunities

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Initiatives to be considered

• demonstration projects in cultural, arts and
  sports arena to highlight the abilities of
  active, healthy and creative older persons
• encourage lifelong learning programmes and
  promote intersectoral collaboration in the
  provision of lifelong learning opportunities for
  older persons

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• The challenge
• to socially evolve in a forward-looking,
  sustainable manner
• add life to years after adding years to life
• transition into a satisfying retirement in old
  age
• a win-win situation for older persons and the
  rest of society

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Thank you!