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FINANCE minister Dave Tancoo has warned that TT’s rapidly ageing population is reshaping the country’s economic future, forcing urgent reforms to the National Insurance System (NIS) and new initiatives to mobilise domestic capital.

Tancoo delivered a keynote speech at the TT Stock Exchange’s Capital Markets and Investor Conference in Port of Spain on October 24.

“Our population is ageing, and it is doing so rapidly. In 1980, only about five per cent of our citizens were aged 65 or older. Today, that number stands at over 11 per cent. By the year 2060, it is expected to more than double to 26 per cent. Think carefully about what that means.”