Ageism, Baby Boomers and How to Pay For the Pension


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I was listening to the news on Alexa this morning and they were saying that in Japan (as in many countries) there are a growing number of Baby Boomers on the pension and people are worried about there being enough tax payers to afford to pay them.

I have an easy solution. There are a huge number of people over the age of 50 who want to work, but they find it very difficult to be considered over younger people. If they were working

  1. They wouldn’t need to be receiving a pension; and
  2. They would be paying tax which would help pay pensions for others who are unable to or don’t want to work.

The irony to me is that businesses are missing out on a wealth of experience and capability such that they can contribute significantly to the profitability of employers.

Let’s face it, people are fit and healthier longer than before and most of the over 50’s I talk to, want to travel and enjoy a lifestyle that they could not afford on a pension.

Some people might have concerns about employing people significantly older than themselves. However, if you want the best for your business or business unit, would you rather employ people requiring a lot of training, who may not have a good understanding of how business works, or people with years of experience who are prepared to be led by younger employers?

There is an irony in this situation of course because the people who don’t want to pay taxes for pensions were mostly raised by the people who need them, many of whom have paid taxes for 40 years or more, underwriting the cost to create welfare states and all the amenities we all enjoy. The younger ones may not relate to middle age, I remember, it seems like it will never happen to us, right?

Whether it is equal jobs for women, older people or people with disabilities, shouldn’t the only factor be best fit and capability to do the job well?

How is it that companies will employ women because they are poorly represented in a company but ignore older people? Personally I appreciate a workplace that reflects the community, but I also prize the benefit that comes from years of experience.

Just as a closing thought. With some notable exceptions, we prefer to elect country leaders who are over 50, because of their experience. If that’s the case, why ignore them for your business?

 

One thought on “Ageism, Baby Boomers and How to Pay For the Pension

  1. I didn’t read it, but I saw there was a feature in the Sunday paper yesterday, saying that people over 45 were commonly passed over for work in favour of younger people. How short-sighted is that?

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