Social Security: Ageing of population has bigger impact on workforce

St Kitts and Nevis: Administration of St Kitts and Nevis has secured a comprehensive approach promoting a healthfuller lifestyle that includes planning activities to promote physical activity, eating healthy foods, and decreasing stress levels.

The approach is designed to reduce the occurrences of non-communicable diseases such as diabetes (high blood sugar) and hypertension (high blood pressure) amongst the people. As a result of this plan and other factors such as developments in healthcare, citizens are living for an extended period.

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The formula, although, points to a result which has captured the attention of St Christopher and Nevis Social Security Board.

“We have an ageing society. We have far more people reaching to pensionable age and less people growing into the workforce, and for us to pay pension now we depend on workers today to pay,” stated Kamilah Lawrence, the organization’s public relations manager. The comment was made on this week’s (December 09, 2020) version of the radio and television programme Working for You.

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Moreover, because people are in more excellent health at older ages, such as 60 to 65 years, they are usually reluctant to retire.

“They look as incredible as you and I, and that’s why you discover them say well [I’m not] set to go home yet out of the workforce because they still appear prolific,” Lawrence said.

The subject is not uncommon to St Kitts and Nevis as many nations round the world have an ageing society and decreasing workforce. 

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To address this, many nations have adapted to hiring migrant workers, strengthening family growth by tax benefits, and raising the age of retirement.