Taipei, Nov. 20, 2012 (CENS)--The number of Taiwanese workers aged 60 and over hit an all-time high of over 610,000 as of the end of September this year, according to the statistics compiled by the Directorate-General of Budget, Accounting and Statistics (DGBAS) under the Cabinet.
DGBAS indicated that the labor participation rate for local people aged between 60 and 64 has steadily increased to 33% as of the end of this September from 31.9% seen in 2008, when the government extended the mandatory retirement age from 60 to 65. If including workers aged 65 and over, the number of older Taiwanese workers would reach some 612,000, 50% more than the corresponding figure of 406,000 seen in 2006, according to the same DGBAS tallies.
Officials said that fast growing labor participation rate for people aged 60 and above has reflected improving life expectancy and physical health of Taiwanese people. But, to safeguard older workers’ benefits, the officials added, there will be a need to review and amend the current labor law to restrict enterprises from dismissing them due to age consideration.
Scholars from Academia Sinica, the highest academic institution in Taiwan, pointed out that as human being’s life expectancy is rising, employment of older workers has been a trend worldwide, which is also commonly seen in Taiwan.
The scholars furthered that the growing participation of older workers in the workforce in Taiwan is driven not only by individuals’ needs for more earning years, but also by better mental and physical health achieved through consistently working.
Under the scenario, the scholars suggest that the government should work out more proper labor rules and regulations to encourage enterprises to hire older workers without undermining the interests of young people in the labor market. This is quite an urgent task, they said, given the fact that Taiwan is running out of its demographic advantages.
(by Steve Chuang)
