The price of ageing

This piece of information is important since it signals that Trinidad and Tobago was, since then, one of those countries that fall within the developing world that possesses an “ageing population”. Data from the CSO for 2011 placed the elderly population of Trinidad and Tobago at 13 percent or 177,676 persons over the age of 60, with 9% over the age of 65. The UN World Population Prospects (2008) forecasts that the percentage of persons in Trinidad and Tobago, aged 60 and over, is projected to be 17.7% in 2025, and that percentage is expected to grow to 30.1% in 2050.

The international community, recognizing the importance of addressing the issue of ageing, did so in the following manner. The Madrid International Plan of Action on Ageing was the framework established by the international community in 2002, as a blueprint for national responses to ageing populations. This was followed in 2007, by the countries that agreed to the Madrid plan the adoption of the Brasilia Declaration, which reaffirmed the commitment of member States to “spare no efforts to promote and protect human rights and fundamental freedoms of all older persons, work towards the eradication of all forms of discrimination and violence and creating safety nets for older persons to exercise their rights.” A third meeting was then held in San Jose Costa Rico in 2012. The main objective of that meeting was to appraise the measures that governments had put in place towards their commitment to the Brasilia Declaration and the Madrid Plan of Action. The question is: what have we done to implement the recommendations?

There are issues of affordable health care, protection from abuse, the loneliness experienced by too many old people, and the need for accessible, interesting programmes to encourage healthy, active ageing. There are implications for funding old age pensions, which are of importance to the future viability of the National Insurance Board. There are also changing medical and service requirements that we must address.

In 2012 we had a National Ageing Policy which spelt out 11 objectives, including the availability of reliable safe and accessible scheduled transport for seniors; the availability of housing that is affordable, safe and accessible; access to affordable health care and to recreational facilities; more meaningful participation of the elderly, and the preservation of dignity and independence.

These are all laudable, but one wonders, set against the backdrop of a significant fall in government revenues, if the Ministry of Social Development and Family Services will be given priority. It appears that the signal has been sent, this idea of meaningful participation and dignity and independence of the elderly will be sacrificed for the greater good of the young. The recent decision to stop Gate to the citizens over 50 who have paid taxes for their most of their lives was loud, clear and unilateral.

The economic value of the collective group of over 50s appears not to be appreciated or given much prominence, Notwithstanding the existence of the Prime Minister, the Minister of Finance, former Central Bank Governor, Ewart Williams, and other banking officials, economists and national planners including Gerry Hospedales, Dr Terrence Farrell, Dr Karl Theodore, Ken Julian and so many of our “senior citizens” who contribute yeoman service to our country. Have they disregarded the needs of the very grouping they belong? We need to be reminded that we need to link changes in consumer demand that occurs with an ageing population including increased demand for relevant health care and services, goods that address the needs of the aged, as part of new non-energy investment thrust that can provide increasing returns as this age cohort increases in size.

It is incumbent on us to develop a national plan that seizes on the potential backward and forward linkages. Government incentives, foresight and direct involvement are needed now and can provide the first mover example that in many respects our private sector needs to get more involved. Admittedly, some work has started but much more is required. In this regard, the use of independent assessment of policies we have and are implementing could assist us to be more effective and efficient. We should not wait, as we did with FATCA, until the last minute to plan, engage, discuss and implement. The budget is a good place to send the right signals that our citizen’s lives, those who have served us for all their lives, should be treated with respect and dignity. After all we all will someday complete the circle of life.