Taiwan’s ageing workforce and low birth rate push seniors back into employment

Employment among those of retirement age in Taiwan has risen by about a third over the past decade, but analysts say more businesses will need to adapt by offering flexible hours, lighter workloads and senior-friendly environments.

Currently, only 10 per cent of those aged 65 and above still work – a lower rate than other ageing societies in Asia such as South Korea, Japan and Singapore.

A record high of 110,000 people are retiring in Taiwan each year, perpetually straining the labour market.

“Aside from middle-aged and older workers, women, as well as Taiwan’s new immigrants … will also become an important source of labour in the future,” said Chou Wen-Chi, professor at National Chung Cheng University.

Official data shows Taiwan’s female participation in the workforce is about 52 per cent, lower than Japan, South Korea and Singapore.

Chou noted: “For businesses, that means companies will likely need to adopt more diverse employment practices when it comes to managing their workforce.”