Aging well in Asia: Asian Development Policy Report released by Asian Development Bank (ADB) | Current Affairs | Vision IAS
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Aging well in Asia: Asian Development Policy Report released by Asian Development Bank (ADB)

Posted 03 May 2024

2 min read

  • Report identifies four key dimensions of older persons’ well-being - health, productive work, economic security, and social engagement. 

 

  • Key Findings of the report:
    • Developing Asia is aging rapidly with risk of not having adequate resources to support ageing populations.
    • Older people (aged 60 and above) accounted for 13.5% of the regional population in 2022, it is expected to nearly double to 25.2% (1.2 billion) by 2050.
    • India related findings:
      • Lowest health insurance coverage among older people at 21%
      • 80%–90% of financial resources for retirement come from private income and assets, not public pensions or social assistance.

 

  • Challenges to Healthy Aging:
    • Persistent burden of lifestyle disease and heightened incidence of loneliness and social isolation.
    • Limited access to essential services such as health and long-term care.
    • Economic insecurity with 40% older people in Asia and Pacific lacking access to any form of pension.
    • Up to 94% of workers aged 65+ in the region are employed in informal sector.

 

Recommendations:

  • Achieving universal health coverage, government led health insurance reforms, and strengthening of primary healthcare. 
  • Labour protection coverage for informal workers, extended and flexible retirement age and lifelong learning. 
  • Broader social pension coverage, use of digital technology (like India’s Atal Pension Yojana), and financial literacy. 
  • Transition to market based long term care systems, community based social activities (like Ibasho project in Japan) and digital skills training. 
  • Tags :
  • Healthy Ageing
  • Asia
  • Universal Health Coverage
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