Finance Minister Dave Tancoo has issued a stark warning about Trinidad and Tobago’s rapidly aging population, emphasizing its profound implications for the country’s economic stability. Speaking at the TT Stock Exchange’s Capital Markets and Investor Conference in Port of Spain on October 24, Tancoo highlighted the urgent need for reforms to the National Insurance System (NIS) and initiatives to mobilize domestic capital. He revealed that the proportion of citizens aged 65 and older has surged from 5% in 1980 to over 11% today, with projections indicating it will exceed 26% by 2060. This demographic shift, he cautioned, threatens the sustainability of the NIS, which is already paying out more in benefits than it collects in contributions. Tancoo warned that without immediate action, the National Insurance Fund could be depleted by 2032, leaving thousands of retirees without support. To address this, the government plans to increase NIS contribution rates by 3% in 2026 and 2027, gradually raise the retirement age starting in 2028, and deepen the country’s capital markets. Tancoo also announced the launch of a $1 billion National Investment Fund bond and a state-sponsored Real Estate Investment Trust (REIT) to encourage domestic investment and unlock value in public assets. These measures, he stressed, are essential to ensuring financial security for retirees and fostering long-term economic growth.