Reforms Urged to Support Aging Population in Asia-Pacific – Report

June 7, 2024

Photo by K.Mitch Hodge/Unsplash

Challenges that come with age

Developing Asia and the Pacific are facing significant challenges in securing the well-being of its rapidly aging population. A recent report by the Asian Development Bank (ADB), “Aging Well in Asia,” highlights the pressing need for comprehensive policy reforms to address issues such as low pension coverage, health problems, social isolation, and limited access to essential services for older people in the region. Manila-headquartered ADB, established in 1966, is owned by 68 members—49 from the region.

Older Asians face challenges such as lifestyle diseases, lack of decent jobs, limited access to essential services, low pension coverage, and growing isolation and loneliness.
—Aging Well in Asia report

According to the report, the number of people aged 60 and older in developing Asia and the Pacific is projected to nearly double by 2050, reaching 1.2 billion—approximately a quarter of the total population.

Developing Asia consists of 46 members of the ADB, categorized into five geographic groups. Caucasus and Central Asia includes Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan. East Asia comprises Hong Kong, China; Mongolia; the People’s Republic of China; the Republic of Korea; and Taipei, China. South Asia includes Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. Southeast Asia consists of Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Timor-Leste, and Viet Nam. The Pacific includes the Cook Islands, the Federated States of Micronesia, Fiji, Kiribati, the Marshall Islands, Nauru, Niue, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu.
— Asian Development Outlook 2024

This demographic shift increases the demand for pension and welfare programs, as well as healthcare services. However, it also presents an opportunity for economies to benefit from a “silver dividend,” which could boost the region’s GDP by 0.9% on average through increased productivity from older individuals.

Albert Park, ADB Chief Economist, emphasized the importance of preparing now to support the aging population. Policies should focus on lifetime investment in health, education, skills, and financial preparedness for retirement, as well as fostering strong family and social ties to maximize older people’s contributions to society.

Elderly labor insecurity; female elders particularly disadvantaged

The report reveals that 40% of people over age 60 in the region lack access to any form of pension, with women being particularly disadvantaged due to their higher likelihood of engaging in unpaid domestic work. Consequently, many older individuals are compelled to work beyond retirement age, often in the informal sector, which lacks basic labor protections and pension benefits.

By 2030, one in six people globally will be aged 60 or older, with this age group increasing from 1 billion in 2020 to 1.4 billion. By 2050, the population of people aged 60 and over will double to 2.1 billion, and those aged 80 and over will triple to 426 million.
— WHO

Health issues becoming common

Health issues are also prevalent, with 60% of older people not receiving regular health checks and 31% experiencing depressive symptoms due to illness, social isolation, and economic insecurity. Older women are disproportionately affected by health problems such as depression, diabetes, and hypertension.

To address these challenges, the report recommends various policy measures, including government-assisted health insurance and pension plans, improved health infrastructure, and free annual health check-ups. Universal healthcare coverage and basic labor protections for older informal workers are essential.

Additionally, making retirement ages more flexible, promoting lifelong learning and skills development, and providing suitable work opportunities can help older people remain productive and healthy.

By 2050, 80% of the elderly population will reside in low- and middle-income countries.
—WHO

In conclusion, comprehensive reforms are crucial for supporting the welfare of the rapidly aging population in Asia and the Pacific, ensuring they can age well and continue to contribute to society.

Tags: aging, Elderly people, featured, health issues, population