Modern medicine means that people are living longer and longer. It’s been said that their first person to live to 150 has already been born – And that means that a pension plan that counts on people retiring at the age of 65, and (not to put too fine a point on it), going safely to the grave by the age of 80 will fall far, far short…
Add to that the fact that less than 40% of South African’s have enough money saved up to support them adequately for a 15 year retirement, and it’s easy to see the problem.
Dion Chang in conversation with BizRadio’s Grant Jansen
Podcast | Click HERE to listen
If our older generation is both fit enough to be able work (and they are) and needy enough to want to work (and they are) we are left with an aging workforce that has no intention of relinquishing their jobs to the hungry younger generation.
This marks a fundamental breakdown of what should happen in a functioning society: Elders should pass on their knowledge to the younger generation, and then move over, and give the youth a chance to build on what they were taught, and in turn in time pass on their knowledge to their descendants.
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