Saturday, June 3, 2023
Srinivas Tata, is Director, Social Development Division, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)
Eduardo Klien, is Regional Director, Asia, HelpAge International
Srinivas Tata
The region continues to be the prime driver of global economic growth, yet a significant proportion of the working age population is not covered by pensions. In several countries of the region, especially ones in South-East Asia and South and South-West Asia, coverage is well below 20 per cent. Similar challenges exist in terms of providing accessible and affordable health care, particularly for those left furthest behind. Robust social protection systems must be developed to address population ageing in a comprehensive manner. Because the majority of older persons are women, their needs must be specifically addressed.
Older persons make vital contributions to society; their role should not only be acknowledged, it should be made easier, including through improving their knowledge and skills through lifelong learning, promoting flexible working arrangements, and allowing them to have easy access to everyday conveniences, like public transportation. A study on the time use of men and women shows that overall, older persons provide more care than they receive. They provide care to grandchildren and other older persons who need care, with many intergenerational benefits, including indirect contributions to family income by making younger women freer to participate in the paid labour force. Ageing surveys have also found that the health of older persons tends to be better if they are socially connected, volunteer and contribute to society.
Eduardo Klien
Population ageing provides attractive business prospects, often identified as the “Silver Economy”. More products should be tailored to the needs of the growing older population, while universally designed products and the care economy can grow exponentially. Financial products and instruments, like reverse mortgages, can be designed to adapt to needs of older persons, including to use their immovable assets to fund financial requirements.
The young people of today are the older persons of tomorrow. Population ageing can only be addressed systematically if an intergenerational approach based on equity and seeing youth and ageing are part of a single continuum is adopted. Let us celebrate population ageing and embrace it. A fair society for older persons is a just and prosperous society for all ages.
ESCAP and HelpAge have recently joined forces to address population ageing more comprehensively through the organization of advocacy events and the collaboration on research on older persons. We stand ready to support countries in the region in designing and developing policies and programmes to ensure that older persons are not left behind.