Who will look after us when we grow old?
For generations, Pakistanis never really had to ask this question. Today, perhaps we should. If you ask most Pakistanis what they hope life will be like when they grow old, the answer is rarely about money. Most will simply say: “My children will look after me.” For generations, that expectation has been one of the greatest strengths of our society. Parents worked hard to educate their children,…
Pakistanis have long taken for granted the responsibility of caring for their elderly family members. In many cases, it was expected that children would look after their parents as they grew older, driven by a deep cultural, societal and religious sense of duty. This model of family support worked well in the past, when larger families lived together under one roof and generations often shared the same home.
However, Pakistan is undergoing significant changes that are challenging this traditional way of providing care for seniors. Younger generations are leaving home in search of education and work, both in Pakistan and abroad. Families today are smaller, with fewer children being born compared to previous generations. Women are increasingly joining the workforce, which means that households are structured differently and may have less time or resources to devote to caring for aging parents.
For many families in Pakistan, the financial burden of supporting older relatives has become more difficult. Imagine a couple living in Faisalabad who has a son working in Dubai and a daughter teaching in Lahore. Both children want to support their parents, but they are also responsible for their own children, paying for education and housing. The distance, rising living costs and demanding careers make it more challenging for the children to provide the daily care their parents need.
Pakistan's population is also changing. Currently, around 16-17 million people are aged 60 or older, and this number is expected to more than double in the next three decades, reaching over 40 million. At the same time, the labour force has grown to about 83 million people, but only around 11.6 million workers are covered by the Employees' Old-Age Benefits Institution (EOBI).
This institution was originally designed for those in formal employment, but many Pakistanis now earn their living through agriculture, small businesses, self-employment, and the informal sector, which are not covered by EOBI.
Longer life expectancies also pose a challenge. According to the World Bank, life expectancy in Pakistan is now around 68 years, reflecting improvements in healthcare and living standards. While living longer is a positive outcome, it also means that people will need financial support for a longer period of time, often for twenty to thirty years after they stop working.
The main financial challenge in old age is no longer just replacing a monthly salary; it also includes paying for healthcare, medications, medical tests, and long-term care.
These factors highlight that families alone may not be able to provide the financial support needed for an aging population. Preparing for old age should be seen as an important economic and social challenge that requires more than just family support. It demands financial resilience and a rethinking of how Pakistan's economy can better support its growing elderly population.
Written by urgent.news from Business Recorder's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
