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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24.3
21
17.2
14.4
12.2
11.9
11.2
10.2
Note Percentage denotes the proportion of
population aged 65 and over only.
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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Studies show that

• late retirees who retired after the age of 65
  tended to die within two years after retirement
• but 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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(No Transcript)
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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

• restructure the 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!