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Over a third of the elderly population of the Dominican Republic is still working

Over a third of the elderly population of the Dominican Republic is still working, despite having reached an age when one would expect them to be retired, pensioned or in the process, reports Diario Libre, based on stats from the latest National Statistics Office (ONE) bulletin. The United Nations considers a person to be elderly at 60 years of age. According to ONE, the National Workforce Survey (ENFT) found that the total occupation rate among the elderly (the percentage working in some kind of job, either paid or unpaid, in relation to the population of working age) is 35%, predominantly of men (52%) over women (19%).

“If it is estimated, in addition, that seven of every ten elderly people are affected by poverty, we would be facing a situation in which a significant proportion do not have sufficient income for a quality lifestyle at this stage of their lives,” the report says. Diario Libre reports that for each elderly adult employed in the formal sector there are ten in the informal sector. “This implies that these elderly people who continue to work are not contributing to pension funds and will not have a pension when they retire,” concludes the document.

Source: DR1, Diario Libre

Category: DR News |

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Last updated December 6, 2016 at 12:34 PM
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