India’s
ageing population is no longer a distant concern—it is a growing reality with
profound economic and social implications. By 2050, nearly 20% of India’s
population will be over 60, challenging traditional workforce structures and
retirement norms. The rise of the ‘silver workforce’—older adults continuing
employment beyond conventional retirement—demands urgent attention from
policymakers, employers, and society.
The
idea of a fixed retirement age is becoming obsolete. Increasing life
expectancy, albeit with a gap between overall lifespan and healthy lifespan,
necessitates a re-evaluation of work and ageing. The United Nations’ Decade of
Healthy Ageing (2021–2030) stresses the need for individuals to maintain
functional mobility and achieve personal goals. Employment plays a crucial role
in this, offering financial stability, purpose, and social engagement. However,
India presents a dual reality when it comes to ageing and work.
In
the formal sector, structured retirement policies ensure pensions and welfare
benefits but often disregard the potential contributions of older workers. Many
retire not out of necessity but because of rigid policies, despite possessing
valuable experience and institutional knowledge. This is a loss for both
individuals and organizations. On the other hand, the informal sector, which
employs a significant portion of India’s elderly, allows workforce re-entry but
often under precarious conditions—low wages, lack of job security, and minimal
benefits. The disparity between these sectors highlights the urgent need for
structured policies that facilitate flexible and meaningful work for older
adults.
Health
remains a critical factor in determining how long individuals can remain
productive. While some extend their careers out of financial necessity, others
choose to work for personal fulfillment and social connectivity. Studies
confirm that working in later years improves cognitive health and emotional
well-being, reducing the risks associated with social isolation and depression.
However, without supportive policies, many older workers struggle to navigate a
job market that favours youth and technological adaptability over experience.
To
address these challenges, India must rethink its workforce policies. Employers
should embrace phased retirement plans, flexible work arrangements, and
reskilling programs tailored for older workers. Age-inclusive hiring practices
must replace outdated biases that view ageing as a liability rather than an
asset. Intergenerational workplaces can benefit from the stability, commitment,
and mentorship abilities of older employees, fostering a culture of
collaboration and knowledge transfer.
The
silver workforce is not a burden but an opportunity. Harnessing its potential
requires systemic changes that prioritize dignity, inclusion, and economic
productivity. As India stands on the brink of a demographic shift, it must
ensure that longer lives translate into healthier, more meaningful, and
economically secure years. If done right, an ageing workforce can be a
strength, not a challenge.
