In 1889, the chancellor of the German Empire, Otto von Bismarck, introduced the world’s first modern pension system, setting the retirement age at 65. In 1935, the US introduced the social security system, also setting the legal retirement age at 65. As a result, other countries in the world have historically considered those aged 65 or older to be elderly.
After World War II, there was significant progress in the field of medicine, while nutrition improved, public sanitation was promoted and the average lifespan of people around the world was extended. Thus, the population of elderly people increased significantly, and population aging became a worldwide trend.
According to the WHO, an “aging society” is one in which 7 percent of the population is aged 65 or over, an “aged society” is one in which 14 percent have reached this age, and a “super-aged society” is one in which more than 20 percent have hit this classification.
Taiwan reached the status of an “aging society” in 1993, and has been considered an “aged society” since 2018. Next year, it would formally be classified as a “super-aged society.”
This clearly illustrates the high speed at which our population is aging, with more issues surrounding the elderly population arising in succession. The government has implemented and promoted several measures, such as those involving elderly healthcare and long-term care, social participation and education for elderly people, fostering friendly environments for them, and intergenerational coexistence and the sustainable development of an elderly society.
The promotion and normalization of these measures requires significant investment in personnel and resources.
In the current context, with countless government policies and a financial burden that grows heavier by the day, we must conserve resources to prevent crowding out from influencing other administrative policy initiatives. All citizens must prioritize taking care of ourselves to ensure that we would enjoy our old age in peace.
First, it is important to begin financial planning from a young age. According to a survey by a human resource bank, almost 20 percent of the working population is part of the “moonlight clan” — people who spend their entire salary before the end of each month.
This raises concerns about how they might survive once they reach old age as their health declines and their income decreases. Some might accumulate savings when they are young just to give away their assets to their children prematurely, leading to a significantly strained financial situation in old age where they lack the means to support themselves, or even become homeless — a very miserable situation.
Second, the National Health Insurance system allows citizens to enjoy healthcare at relatively low costs. However, it can be troublesome for those with severe chronic illnesses or conditions that require frequent hospital visits. Additionally, if they become weak, hiring someone to assist them with daily care at home incurs significant costs.
Research out of multiple countries suggests that the proportion of elderly people with depression is gradually increasing, the primary risk factors being feelings of loneliness and loss. Many elderly people experience profound feelings of loss upon the death of a spouse or close friends, or when their children grow up and move out of the family home.
Children who are busy with work often hire a foreign domestic helper to accompany their elderly parents. However, while it might appear that they have companionship, those care workers often speak an entirely different language, making it difficult for the two to properly interact and communicate. It is understandable, then, that elderly parents might still feel lonely and isolated.
Today, technology is rapidly evolving and new personal devices are constantly released. As such, many elderly people encounter significant challenges when learning new technological skills. Most people believe that upon becoming old, our brain loses its vigor, making it extremely difficult to learn new things. However, recent research indicates that the greatest barrier to learning for elderly people is not cognitive decline, but a lack of self-confidence.
In a society that is about to reach “super-aged” status, if citizens want to prevent financial vulnerability in old age, ensure physical health and comfort and enjoy the conveniences and joys technology provides, we must make the necessary preparations.
This includes not only saving for retirement, taking care of our health, cherishing our partners, and staying in more frequent contact with our friends — we must also embrace new technology and continuously foster innovative thinking.
Wu Chao-tsong is a psychiatrist.
Translated by Kyra Gustavsen
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