Ageing

The Asia-Pacific region is currently home to over half of the world’s elderly population. The region is experiencing population ageing at an unprecedented pace, due to the tremendous improvements in life expectancy combined with falling fertility rates. The number of older persons in the region is expected to triple from 438 million in 2010 to more than 1.26 billion by 2050. By then, almost two thirds of the world’s older persons will be living in the Asia-Pacific, with one in four people in the region expected to be over 60 years old.

Papers

Income Security for Older Persons in India: A Purposive Assessment of Coverage, Funding and Benefits

Although India is still a relatively young country, there are currently 116 million older persons in India and their number is increasing rapidly. Income security for older persons can become an increasing concern. Coverage of contributory and non-contributory schemes is still low in India. Public sector workers are well covered through a non-contributory pension scheme. Due to longer life expectancy, the number of beneficiaries of this scheme is increasing rapidly, which poses an increasing burden for the federal budget.

Papers

Income Security for Older Persons in the Republic of Korea

This project working paper discusses the prevailing system of income security for older persons in the Republic of Korea with regards to coverage, beneficiaries, and sustainability. It also discusses recently undertaken reforms of the income security system  with regards to their budgetary implications. After the introduction of a mandatory pension scheme, coverage of pensions increased rapidly in the Republic of Korea. However, as the pension system in the Republic of Korea was introduced relatively late, poverty of older persons is still high.

news

National Consultation on Pensions in Sri Lanka

ESCAP, in cooperation with the Institute for Policy Studies for Sri Lanka conducted the National Consultation on Pensions in Sri Lanka in Colombo on 23 October 2015. The consultation featured a keynote speech by Mr. W A Wijewardena, Former Deputy Governor of the Central Bank of Sri Lanka on “The Need for Income Security in the Context of Population Ageing in Sri Lanka”, the presentation of a study assessing the status of income security for older persons in Sri Lanka, as well as a panel discussion featuring perspectives of the Government, trade unions, employers, and older persons.