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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