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, helped them build successful lives and, in return, children cared for their parents in old age. Looking after ageing parents has never been seen merely as a financial responsibility. It is part of our culture, our values and our faith. The family has always been Pakistan’s greatest social security system.

For centuries, this model served us remarkably well.

Unlike many developed countries, where older people often rely primarily on savings or government support, Pakistani families traditionally relied on one another. Home was where children were raised, grandparents were cared for and several generations often lived under one roof.

But while our values remain unchanged, the Pakistan around us is changing rapidly.

Young people increasingly leave their hometowns in search of education and employment. Millions work overseas. Families are becoming smaller. Couples are having fewer children than previous generations. More people now live in apartments rather than large family homes. Women are participating in the workforce in greater numbers, creating new opportunities but also changing the way households organise care for elderly parents.

Preparing for old age is no longer simply a personal matter. It is becoming one of Pakistan’s most important economic and social challenges.

None of these developments are negative. They are signs of economic progress and greater opportunity. However, they also raise an important question. Can tomorrow’s families provide the same level of financial support that yesterday’s families could?

Imagine a retired couple living in Faisalabad. Their son works in Dubai. Their daughter teaches at a school in Lahore. Both children love their parents and want to support them. Yet they are also paying school fees, housing costs and raising children of their own.

Distance, rising living costs and demanding careers make providing day-to-day care far more difficult than it was for previous generations. The challenge is not one of love. It is one of economics and geography.

This question becomes even more important when we look at Pakistan’s changing population.

Today, approximately 16–17 million Pakistanis are aged 60 years or above. Within the next three decades, that number is expected to exceed 40 million. In other words, during the working lives of today’s younger generation, the number of older Pakistanis will more than double.

At the same time, Pakistan’s labour force has grown to approximately 83 million people, yet only around 11.6 million workers are covered by the Employees’ Old-Age Benefits Institution (EOBI). While EOBI remains an important source of income for many retired workers, it was originally designed around a formal employer-employee relationship. Today, much of Pakistan’s economy is driven by agriculture, small businesses, self-employment, family enterprises and the informal sector, where many workers remain outside traditional employment arrangements.

This is not a criticism of EOBI. Rather, it reflects how dramatically Pakistan’s economy has evolved.

When EOBI was established, industrialisation and formal employment were expected to become the dominant features of Pakistan’s labour market. Instead, a significant proportion of Pakistanis continue to earn their livelihoods through informal or self-employed work, making it difficult for a traditional employer-based system alone to provide financial security for everyone in later life.

There is another important change taking place. Pakistanis are living longer than previous generations.

According to the World Bank, life expectancy in Pakistan has risen to around 68 years, reflecting significant improvements in healthcare and living standards over recent decades. Living longer is something every society should celebrate.

Yet longer lives also bring new challenges. Most people think about replacing their income after they stop working. Far fewer think about paying for twenty or thirty years of everyday living expenses. Even fewer think about healthcare.

For many families, the largest financial challenge in old age is not simply replacing a monthly salary. It is paying for medicines, medical tests, hospital treatment and long-term care. Diabetes, heart disease, arthritis and other chronic illnesses become increasingly common as we grow older. Medical costs often rise precisely at the point when regular employment income comes to an end.

Growing older therefore requires more than family support. It also requires financial resilience. This does not mean replacing the traditional family. Nor does it mean weakening the values that have always held our society together. Quite the opposite. Families remain our greatest strength.

But even the strongest families face financial pressures. Parents who have some financial independence are often better able to maintain their dignity, make their own choices and avoid becoming an unintended financial burden on their children. Their children, in turn, are better able to support ageing parents while continuing to invest in the future of their own families.

Perhaps that is the conversation Pakistan now needs to have. For generations, our families have been our retirement plan. Tomorrow, they should remain our greatest source of emotional support.

But expecting families alone to shoulder the financial consequences of longer lives, rising healthcare costs and a changing economy places an increasingly heavy burden on future generations.

Preparing for old age is therefore no longer simply a personal matter. It is becoming one of Pakistan’s most important economic and social challenges. This conversation is not about replacing family values. It is about strengthening them.

If we can help families prepare financially for later life, we will not weaken the bond between generations—we will strengthen it. Because one day, every one of us hopes to grow old. The question is not whether our children will still love us. The question is whether they will be able to afford to look after us.

The article does not necessarily reflect the opinion of Business Recorder or its owners.