Facing the challenges of ageing

The ageing population in Sri Lanka is 13 percent and it is estimated that by 2030 one fourth of the total population will consist of the elderly.

Asian women age faster than their European counterparts.

Ageing will be a challenge in the coming years as large numbers will reach retiring age while most elderly don’t have retirement benefits as the social safety nets are very poor, said Professor and Head Department of Demography, University of Colombo, Dr. Indralal De Silva.

De Silva, said that ageing is much faster in the Asia Pacific Region compared with the West and therefore before we can become rich we have grown old.

In Europe the safety nets are much better compared to the Asia Pacific region. Therefore the extended family concept should be brought into look after the old as it is an issue now.

Since the Asian culture doesn’t encourage women to work, women don’t have opportunities to save for the future.

Increasing the retirement age, adding incentives to part-time workers, creating part-time jobs for the elderly, creating small businesses for older workers, are some of the suggestions to face the challenges of ageing.

Senior Fellow Institute for Health Policy Dr A.T.P.L. Abeykoon, said that in Sri Lanka 5m people are in the age group of 19-29 and they are relatively educated, therefore we have to use them for productive work before this proportion also decreases.

As a result of the increase in the aging population the health costs will increase and the only method to reduce the health cost is to increase the productivity of the people in the health sector.

Opportunities will open in the sectors of healthcare services, savings, investment and taxation due to the rapid ageing of the population.

SG