the World Social Report 2023 calls for concrete action to support the world’s aging population amid rising pension and healthcare costs.
Population aging is a defining global trend of our time, according to the study published by the UN Department of Economic and Social Affairs (DESA).
Countries can benefit by giving everyone the chance to age in good health by promoting equal opportunities from birth.
“Together we can address today’s inequalities for the benefit of tomorrow’s generations who can overcome challenges and… Seizing the opportunities brought about by the aging of the population‘ said Li Junhua, United Nations under-secretary-general for economic and social affairs.
Longer lifetime worldwide
In 2021, 761 million people worldwide were aged 65 and over, which will rise to 1.6 billion by 2050. The number of people aged 80 years or older even grows fastah.
Thanks to improved health and medical therapies, better access to education and falling fertility, people are living longer.
Globally, a child born in 2021 can expect an average life expectancy of 71 years, with women living longer than men. That’s almost 25 years more than a baby born in 1950.
North Africa, western Asia and sub-Saharan Africa are on track to experience the fastest growth in the number of older people over the next 30 years. Today, Europe and North America together have the highest proportion of this population.
age inequality
Increased life expectancy around the world reflects better health overall.
However, the report points to inequalities in our aging world because not all have benefited equally of the improvements in health and education that are driving this change.
While many older people are in excellent health or “employed”, others live with illness or in poverty.
In more developed regions, pensions and other public transfer systems cover more than two-thirds of older people’s consumption. Their peers in less developed regions tend to work longer hours and are more dependent on accumulated wealth or family support.
In addition, an aging world population also means an increase in the need for careexposed a weakness during the COVID-19 Pandemic. Unfortunately, public spending in most countries was insufficient to meet growing demand.
A life full of disadvantages
Life expectancy is strongly influenced by factors such as income, education, gender, ethnicity and place of residence.
“Some combinations of these factors have too often resulted in systemic disadvantages that begin early in life,” the authors noted.
They warned that without action to prevent these systemic disadvantages, they will reinforce each other over the course of life and lead to gaping inequalities in old age.
As a result, progress towards reaching the 17th Sustainable Development Goals (SDGs) could be at risk, specifically SDG 10 on reducing inequalities.
Rethink policies, expand options
The report recommends these countries Rethink long-held policies and practices related to employment and work.
Many governments are already introducing lifelong learning opportunities and strengthening and capitalizing on the benefits of an intergenerational workforce.
They are also introducing a flexible retirement age to accommodate a wide range of personal situations and preferences.
pension dilemma
Authorities also need to rethink social protection systems, including pension schemes.
“A major challenge is to maintain the financial sustainability of public pension systems while ensuring income security for all older people, including those in the informal workforce,” say the authors.
Other important elements include expanding decent work opportunities for women and other groups traditionally excluded from the formal labor market.
The aim is to ensure their well-being in old age and to improve the efficiency of the economy.
The significant contribution of the informal care sector to the formal economy should also be properly recognized and taken into account, the analysis said.
