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Adding Life to Retirement Years

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at the time the average life expectancy was 55 years. manual labour was the norm ... Today Hong Kong's average life expectancy. for men and women are 78.4 and ... – PowerPoint PPT presentation

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Title: Adding Life to Retirement Years


1
Adding Life to Retirement Years by The Hon. Tam
Yiu Chung Chairman, Elderly Commission 15
February 2003
2
  • Topics
  • Background and Introduction
  • Contribution of Older Persons to Society
  • Retirement Age
  • Senior Volunteerism
  • Preparation for Retirement
  • Intergenerational Relationship and
  • Continuing Education
  • Way Forward

3
21
24.3
17.2
14.4
12.2
11.9
11.2
10.2
Source Census and Statistics Department
4
Source Census and Statistics Department
5
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
6
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

7
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

8
Contribution of older persons to society
9
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

10
But the question is are societal wealth and
productivity only generated by persons in the age
group of 15 to 64?
11
  • The fact is, older persons are going to be
  • more healthy
  • better educated
  • and will aspire to play a different role in
    society

12
  • 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
  •  

13
  • 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

14
  • 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

15
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.
16
Retirement Age
17
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

18
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?

19
Retirement Age in
  • USA - being gradually raised to 67 years
  • Japan 69 years
  • Korea - 67 years

20
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

21
  • 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

22
  • 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

23
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

24
Labour Force Participation Rate
25
Senior Volunteerism
Apart from paid employment, older persons can
still make positive and productive contribution
to society through volunteer work.
26
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

27
  • 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

28
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

29
  • Opportunities for retiree professionals to share
    their experience and serve the community in
    sectors that are usually not involved in ageing
    related issues

30
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.

31
  • Intergenerational Relationship
  • Continuing Education
  • Reinvest in Ageing

32
Decrease in average household size and Increase
in households with persons 65
33
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

34
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

35
Reinvest in Ageing
  • compartmentalized life course
  • - education when young
  • - work in adulthood
  • - leisure after retirement

36
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

37
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

38
Initiatives to be considered
  • rethinking retirement and human resources
    practices
  • review volunteering activities for older persons
    and explore new opportunities

39
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

40
  • 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

41
Thank you!
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