ECONOMIC ACTIVITY OF ELDERLY PEOPLE

2021 ◽  
Vol 2021 (4) ◽  
pp. 88-99
Author(s):  
Vitalii MORTIKOV
Keyword(s):  
Older People ◽  
Economic Activity ◽  
Older Workers ◽  
Pension System ◽  
The Elderly ◽  
Retirement Age ◽  
Elderly Workers ◽  
Regional Labor ◽  
Working Age

The economic activity of the elderly is becoming increasingly important with the aging of the population and the extension of the education of young people. Older people have experience, knowledge, which is an important component of human capital of modern organizations and countries in general. Meanwhile, in Ukraine, according to statistics, the economic activity of the elderly has decreased significantly during the 2008-2018 period. Most elderly workers are among the specialists and representatives of the simplest professions. Data on the registered statistics of economic activity of elderly in the regions of Ukraine are weakly correlated with the situation on regional labor markets. This is due, in particular, to the significant shadow component of employment in this age group. There are both positive and negative aspects of economic activity of older people. Despite the benefits of using the labor of older people, they compete for jobs with people of active working age, their involvement is more expensive for employers. With this in mind, regulating the use of human resources of older workers is necessary to maintain the labor balance in the country as a whole, as well as in regions and individual organizations. The article determines which decisions of the elderly the state can influence: retirement earlier than the normal retirement period; exit after reaching this age; continuation of economic activity outside the retirement age, i.e later retirement. The tools of influencing the economic activity of the elderly are the pension system, the creation of jobs taking into account the interests of older workers, improving the quality of their work, combating age discrimination. It is shown that changes in the pension system of Ukraine in 2017 contribute to the intensification of economic activity of persons of pre-retirement and retirement age.

scholarly journals Causes and consequences of low economic activity of older people in Serbia - causes and consequences

2018 ◽  
pp. 573-584
Author(s):  
Biljana Radivojevic ◽  
Biljana Jovanovic-Gavrilovic
Keyword(s):  
Older People ◽  
Labour Market ◽  
Economic Activity ◽  
Older Workers ◽  
Social Life ◽  
Labour Force ◽  
The Elderly ◽  
Early Exit ◽  
Demographic Aging ◽  
Low Activity

Demographic aging, as well as the situation on the Serbian labour market, have affected the changes in the age structure of the workforce. The share of active persons older than 50 years in the total labour force has increased, and the share of young people has fallen. In 2017, 27.2% of total active people are in the age group 50-64. Despite the positive trends in the period 2012-2017, the indicators of economic activity and employment of the population in these age groups in Serbia are lower, compared to the rates for the EU countries. Low activity and employment of the older people is the result of leaving the workforce before the retirement age. The poor employment opportunities for older workers meant an early exit from the workforce and their transition to inactivity. The reasons for early exit from the workforce are illness or disability too. Out of the total number of pensioners in Serbia in 2017, 17.1% were disability pensioners. Chronic non-communicable diseases are the leading causes of illness, disability and premature death (tumors and diseases of the bloodstream). In addition to the economic consequences, the low activity of the older population has numerous social consequences. Abandoning work causes marginalization and often leads to complete exclusion from social life. Therefore, stimulating the economic activity of the elderly is one of the more important goals of national policies. It implies the postponement of the retirement decision and the extension of work. Higher employment among the elderly contributes to a better balance between the active and inactive elderly population. Lifelong learning and professional development is a way to improve the position of the elderly in the labour market and increase their employment.

scholarly journals The Future of Polish Labour Market and the Issue of Work Motivation in Older People

2017 ◽  
Vol 2 (328) ◽  
Author(s):  
Edyta Łaszkiewicz ◽  
Anna Bojanowska
Keyword(s):  
Older People ◽  
Labour Market ◽  
Older Workers ◽  
Work Motivation ◽  
Professional Activity ◽  
Retirement Age ◽  
Market Activity ◽  
Elderly Workers ◽  
Age Related ◽  
Labour Market Activity

According to the demographic forecasts, the population of people in their productive working age decreases, while the share of people aged 65 and over increases. The negative demographic tendencies will affect the conditions of labour market. If the workers’ activity rate doesn’t rise, the total number of workers will decrease dramatically. The demographical pressures on the labour market should result in a prolonging of people’s professional activity. The increase of the labour market activity seems to be one of the most important goals for Poland, for the coming years. One of the factors, which might help in maintaining the high rate of labour market activity (especially among those who are in the pre‑retirement age) is the adaptation of working conditions to the needs of people of various ages. The possibility of working remotely, the flexibility of weekly hours of work or the financial benefits might motivate younger and older workers in different ways. Hence, the use of mechanisms which support the economic activity of older people requires an identification of solutions which will benefit this group of workers the most. The aim of this research is the identification of age‑related differences in factors which motivate workers to continuing working activity. We used the database of individuals from Polish Social Diagnosis (for 2015) and applied the logit regression models to verify if there are age differences in the way people prefer to be motivated to work. We found that what motivates elderly workers doesn’t always motivate the others in the same way. Pre‑retirement age workers prefer, more than others, to be independent and to have a job which is related to their experience. The financial motivators as well as the stability of employment, although very important for all workers, seem to be less important for the elderly workers because they have achieved pension rights.

scholarly journals Population aging and the historical development of intergenerational transfer systems

Genus ◽  
2020 ◽  
Vol 76 (1) ◽  
Author(s):  
Ronald Lee
Keyword(s):  
Older People ◽  
Population Aging ◽  
Intergenerational Transfers ◽  
The Elderly ◽  
Intergenerational Transfer ◽  
Agricultural Revolution ◽  
Public Transfers ◽  
Working Age ◽  
Social Sharing ◽  
Private Transfers

Abstract From our evolutionary past, humans inherited a long period of child dependency, extensive intergenerational transfers to children, cooperative breeding, and social sharing of food. Older people continued to transfer a surplus to the young. After the agricultural revolution, population densities grew making land and residences valuable assets controlled by older people, leading to their reduced labor supply which made them net consumers. In some East Asian societies today, elders are supported by adult children but in most societies the elderly continue to make private net transfers to their children out of asset income or public pensions. Growing public intergenerational transfers have crowded out private transfers. In some high-income countries, the direction of intergenerational flows has reversed from downward to upwards, from young to old. Nonetheless, net private transfers remain strongly downward, from older to younger, everywhere in the world. For many but not all countries, projected population aging will bring fiscal instability unless there are major program reforms. However, in many countries population aging will reduce the net cost to adults of private transfers to children, partially offsetting the increased net costs to working age adults for public transfers to the elderly.

How do employers think about older workers?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hila Axelrad ◽  
Alexandra Kalev ◽  
Noah Lewin-Epstein
Keyword(s):  
Older People ◽  
Thematic Analysis ◽  
Older Workers ◽  
Design Methodology ◽  
Age Discrimination ◽  
Retirement Age ◽  
Structured Interviews ◽  
Content Type ◽  
Pension Income ◽  
Significant Barrier

PurposeHigher pensionable age in many countries that are part of Organization for Economic Co-operation and Development (OECD) and a shrinking pension income force older people to postpone their retirement. Yet, age-based discrimination in employers' decisions is a significant barrier to their employment. Hence, this paper aims to explore employers' attitudes regarding the employment of workers aged 60–70, striving for a better understanding of age discrimination.Design/methodology/approachThe authors used a thematic analysis of semi-structured interviews with 30 managers, experts and employees in retirement age in Israel.FindingsFindings reveal a spectrum of employers' attitudes toward the employment of older workers. The authors' analytical contribution is a conceptual typology based on employers' perceived ability to employ older workers and their stated attitudes toward the employment of older workers.Social implicationsThe insights that emerge from this research are fundamental for organizational actors' ability to expand the productive, unbiased employment of older workers.Originality/valueBy understanding employers' preferences and perspectives and the implications on employers' ability and/or willingness to employ older workers, this research will help policymakers formulate and implement policy innovations that address these biases.

EMPLOYMENT OF OLDER PEOPLE IN THE MODERN LABOR MARKET

2021 ◽  
pp. 409-418
Author(s):  
В.Ю. Бабышев ◽  
Г. А. Барышева
Keyword(s):  
Labor Market ◽  
Older People ◽  
Older Workers ◽  
Age Groups ◽  
Labor Legislation ◽  
Demographic Aging ◽  
Age Cohort ◽  
Working Age ◽  
Medical Advances ◽  
The Impact

В статье рассматривается занятость лиц пожилого возраста в условиях сорвеменных технологических, медицинских и демографических изменений. Актуальность темы исследования обусловлена демографическим старением населения, современными достижениями медицины и изменением характера трудовых операций в результате научно-технического прогресса. В данной статье проверены следующие конкурирующие гипотезы: производительность работников старших возрастных групп находится ниже уровня рентабельности из-за неуклонного ухудшения здоровья или, наоборот, ценность работников старших возрастных групп на современном рынке труда возрастает из-за повышения роли опыта, навыков и квалификации. Дополнительно проанализирован вопрос влияния систем пенсионного обеспечения на мотивацию лиц пожилого возраста к продолжению трудовой деятельности. Для проверки данных гипотез на основе статистики Организации экономического сотрудничества и развития проведен анализ общего уровня занятости, участия в рабочей силе и безработицы, а также временной и неполной занятости по нескольким возрастным группам в диапазоне 15-65 лет и старше. Для оценки динамики проанализирована ситуация на 2000 и 2019 гг. В целом сделан вывод, что количественные и качественные параметры занятости у работников старших возрастных групп уступают среднему рабочему возрасту, однако во временной динамике использование человеческого капитала лиц пожилого возраста растет. В области геронтологии рекомендовано уделять повышенное внимание улучшению здоровья возрастной когорты 65 лет и старше и изменению трудового законодательства в плане стимулирования продолжения трудовой деятельности после официального наступления пенсионного возраста. The article examines the employment of older people in the context of disrupted technological, medical and demographic changes. The relevance of the research topic is due to the demographic aging of the population, modern medical advances and changes in the nature of labor operations as a result of scientific and technological progress. In this article, the following competing hypotheses are tested: the productivity of older workers is below the level of profitability due to a steady decline in health, or vice versa, the value of older workers in the modern labor market is increasing due to the increasing role of experience, skills and qualifications. Additionally, the question of the impact of pension systems on the motivation of older people to continue working is analyzed. To test these hypotheses, based on OECD statistics, we analyzed the overall level of employment, labor force participation and unemployment, as well as temporary and underemployment for several age groups in the range of 15-65+ years. To assess the dynamics, the situation for 2000 and 2019 was analyzed. In general, the author concludes that the quantitative and qualitative parameters of employment of older people are inferior to the average working age, but over time, the use of the human capital of older people is growing. In the field of gerontology, it is recommended to pay increased attention to improving the health of the 65+ age cohort and changing labor legislation in order to stimulate the continuation of work.

scholarly journals Employment at 55+: Do We Want to work Longer in Lithuania?

Ekonomika ◽  
2020 ◽  
Vol 99 (1) ◽  
pp. 50-68
Author(s):  
Kristina Zitikytė
Keyword(s):  
Labor Market ◽  
Older People ◽  
Older Workers ◽  
Social Insurance ◽  
People With Disabilities ◽  
The Elderly ◽  
Employment Rate ◽  
Term Care ◽  
Demographic Aging

 The Lithuanian population is aging, and it causes many difficulties for public finances by increasing expenditures on health care, long-term care, and pensions, and also for the labor market by creating labor shortages. One of the ways to cope with demographic aging is to rise the employment rate of older people. According to Eurostat, the employment rate of the elderly aged 55–64 years increased from 49.6 percent in 2005 to 68.5 percent in 2018 in Lithuania and it is higher than the average employment rate of older workers in European Union, which was 58.7 percent in 2018. This paper focuses on older people in Lithuania, aged 55 and over, trying to answer a question whether the elderly in Lithuania willingly work or try to find alternatives such as receiving long-term social insurance benefits. The research findings show that the activity of older people in the labor market grows, and even the share of people with disabilities staying in the labor market increases. However, this analysis also shows that older people are more under risk to lose their job during an economic crisis, and this suggests that trying to find work alternatives can be closely related to one’s economic situation. Moreover, health problems remain one of the main factors limiting the activity of older people in the labor market. It is also noticeable that some labor force reserves exist among people with disabilities and this supposes that creating better adapted working conditions for older and disabled workers in Lithuania could probably contribute to meeting the needs of an aging workforce.

scholarly journals The Silver Economy in the context of Corporate Social Responsibility

2018 ◽  
Vol 21 (5) ◽  
pp. 33-32
Author(s):  
Monika Szewczyk
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Older People ◽  
Social Inclusion ◽  
Pension System ◽  
The Elderly ◽  
Ageing Population ◽  
Employment Conditions ◽  
Production And Distribution ◽  
Corporate Social

Corporate social responsibility is a concept responding to climate change, environmental problems and the needs of stakeholders. Business makes an effort to act in the changing conditions, thus adapting to the expectations of the stakeholders and following the principles of sustainable economic development and social responsibility. One of the changes taking place in the current economic and social world is the change in the demographic structure of the population. The subject of the ageing population is often discussed, usually as a negative aspect in the context of changes in the pension system, health care costs or the employment conditions of older people. The principles of corporate social responsibility, such as social inclusion, anti-discrimination, and facilitating access to products and services create the basis for the development of the economy, focused on the use of the purchasing potential of older people. Thus, the perception of the demographic changes in this context becomes the ground for the formation of perspective solutions and the development of the silver economy. This model of the economy can be understood as a system which is based on adapting the production and distribution of products and services to older people. The main aim of this article is to present the challenges for companies in terms of the problems connected with an ageing population, as well as to present the main features of the concept of the silver economy in the context of corporate social responsibility. Moreover, considering the development of the silver economy, characteristics of older people as consumers should be taken into account. In this context, there are many stereotypes associated with the activities of the elderly. The article also notes the profile of potential customers of the silver economy, with a particular emphasis on the approach of the elderly to innovation, tradition and a broadly understood sense of security.

scholarly journals Accumulative pension system in Ukraine: theoretical and applied discourse

2021 ◽  
pp. 22
Author(s):  
Lyudmyla Alekseyenko
Keyword(s):  
Social Insurance ◽  
Pension System ◽  
Age Groups ◽  
Active Role ◽  
The Elderly ◽  
Theoretical Concept ◽  
Social Insurance System ◽  
Theoretical Concepts ◽  
Role Of The State ◽  
Working Age

Introduction. The study of theoretical and empirical aspects of the accumulative pension system should help to identify patterns and contradictions of its development in society. In order to conduct an effective economic policy on the introduction of a funded pension system, it is necessary to define a theoretical concept of a model of the active role of the state in socio-economic processes or a moderate liberal model. Reforming the pension system is a rather long process and requires both the definition of the main directions, principles and measures for the development of the funded pension system, and changes in the values, principles and norms of behavior of citizens.The purpose is to substantiate the theoretical concept, trends, problems of the accumulative pension system and the directions of its introduction into society.Research methods are based on the dialectical method of scientific knowledge and a systematic approach to knowledge of economic phenomena and processes, theoretical generalization, systematization, which allowed to reveal the problems of the accumulative pension system based on theoretical concepts and economic-statistical analysis of demographic load of working age and after working age.Results. The indicators influencing the introduction of the second level of the pension system were monitored. The dynamics of indicators of demographic load of the population of pre-working and post-working age is analyzed. The focus is on the peculiarities of wages and final consumer expenditures of households and the general government sector. It was found that in general, citizens belong to the elderly population, so to prevent further deterioration of the ratio between age groups, it is advisable to increase the effectiveness of the social insurance system. The expediency of paying more attention to actuarial statistics to determine the future size of pensions and their exact calculation is substantiated.Prospects. Further research is important to focus on improving the efficiency of the multi-component funded pension system in the context of ensuring compliance with the values, principles and norms of the society.

scholarly journals Demographics, Labour Market, and Pension Sustainability in Hungary

2020 ◽  
Vol 42 (2) ◽  
pp. 146-171
Author(s):  
András Olivér Németh ◽  
Petra Németh ◽  
Péter Vékás
Keyword(s):  
Labour Market ◽  
Pension System ◽  
The Elderly ◽  
Retirement Age ◽  
Baseline Scenario ◽  
Dependency Ratio ◽  
Recent Developments ◽  
Market Trends ◽  
Employment Rates ◽  
Age Dependency Ratio

The sustainability of an unfunded pension system depends highly on demographic and labour market trends, i.e. how fertility, mortality, and employment rates change. In this paper we provide a brief summary of recent developments in these fields in Hungary and draw up a picture of the current situation. Then, we forecast the path of the economic old-age dependency ratio, i.e. the ratio of the elderly and employed populations. We make different alternative assumptions about fertility, mortality, and employment rates. According to our baseline scenario the dependency ratio is expected to rise from 40.6% to 77% by 2050. Such a sharp increase makes policy intervention inevitable. Based on our sensitivity analysis, the only viable remedy is increasing the retirement age.

Perception on service quality in old age homes: a qualitative study in Karachi, Pakistan

2020 ◽  
pp. 1-13
Author(s):  
Samina Vertejee ◽  
Saleema Allana ◽  
Rozina Somani ◽  
Saher Aijaz
Keyword(s):  
Qualitative Study ◽  
Older People ◽  
Old Age ◽  
Community Support ◽  
The Elderly ◽  
Structured Interview ◽  
Entire Study ◽  
Purposive Sampling ◽  
Old Age Homes

Abstract Objectives: The growing number of older people due to demographic transition is paving the way for non-governmental organizations and the private sector for mushrooming of old age homes (OAHs). These homes function either free or fee for services, and the services provided at these OAHs determines the quality of life of older people. The aim of the study was to explore the stakeholders’ perception on the quality of services offered to people living in OAHs. Methods: A descriptive qualitative study design was used to explore stakeholders’ perception of elderly living experiences in old age homes. Three OAH were selected through purposive sampling for the study. Data collected from February –March 2015 through the structured interview guide. Participants’ for FGDs were recruited through universal sampling, while purposive sampling was used for KIIs selection. Researcher ensured all ethical considerations for entire study period. Results: Two major themes were drawn including the reasons and experiences of older people living in OAH, secondly the need for caregivers’ academic competencies. Majority of KIIs and FGDs reported common responses under the two themes. Also the elderly experiences varied from living comfortable to being depressed. KIIs and caregivers’ FGD participants’ strongly urged the need for caregivers’ training and institutional accreditation. Conclusion: In conclusion, the older people experiences challenges of living in OAHs, therefore the study findings strongly proposes community support system and credentialing of the caregivers for age appropriate care. Continuous...  

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