Longevity and the future Population Structure
A World Bank report makes it clear: Owing to the demographic evolution, and the consequent shrinkage of a working age population, it becomes important to keep older workers in the labor force longer. A changed pension policy accompanied by a flexible labor market should enable them to remain in the workforce and retain a high level of productivity. Presently, the prognosis for the future population structure resembles a column that may change to the shape of an inverting pyramid – with smaller cohorts of working age population expected to support the larger ones of elderly retirees. With rising longevity suggesting an average life expectancy after retirement of 15 years, the elderly are encouraged to spend their healthy years in the labor force rather than in retirement. This not only feeds pension funds, but also helps maintain the living standard enjoyed while working and reduces poverty among the elderly significantly. The following poem is a reminder of all those well-known facts – and relates to the meetings industry.