The population ageing is the most significant development of the 21stcentury. It is the byproduct of development and increased healthcare. As long as the people are getting better healthcare facilities and nutritious diet, the median population of the countries will keep on rising. The fertility rates of the population are also increasing which has also contributed to the increased population of over 60 people. The older population provides significant contribution to the society. They are integral part of families, providing wisdom and support to all the members. They are also integral in volunteering, care providing and passing traditions and cultural heritage to the young generation. However, they are vulnerable part of the society as they have weak social support network, lack income and they are often subject to discrimination or abuse. The older women are more vulnerable in the society and common subject to discrimination or abuse. It is because the older women are denied the right to inherit the property and their median age is higher than men (Lee, & Mason, 2011). As a result, they experience deepening property with the age. In this regard, the present report, examines the population aging phenomenon in two different countries in Asia and the policies of the government to address the issues rose with the aging of the population. The essay also examines the strategies and the solutions provided by different governments to address the issue of population ageing.
The population aging refers to the increment in the median age of the population in a particular region. Several reasons have worked together such as reduced fertility rate and the increased healthcare facilities which have increased the median age of the population. The phenomenon of the population aging has several implications for the government and the policy-makers. The governments have to swiftly adapt to this phenomenon to reduce its negative implications. The population aging also has several positive impacts on the society as the wisdom and experience of the people remains within the society. The older workers can transfer skills and culture to the younger generation. The median age of the population is swiftly rising which makes it necessary for the government to take certain actions to combat this phenomenon. There are several economic effects of the ageing population such as they have high accumulated savings per person; however, they offer less on the consumer goods. Therefore, population aging results in lower inflation rate and lower interest rates (Vettori, 2016). The population aging has several benefits such as it can progress automation and technological development without creating unemployment in the country. The primary issue which occurs with population aging is that it increases the public expenditure in the healthcare.
The social security system of the country will also start to experience problems with the population aging. The pension system of the government will also start to face problems with the population aging. The ageing population needs higher income due to their expenditure on healthcare. The old people also face discrimination by different individuals which results from ignorance, thoughtlessness, prejudice and stereotyping. The discrimination can be of various types such as economic, social or administrative discrimination.
Population ageing is a global phenomenon. However, in certain countries, it has become a serious issue. The advanced healthcare of Singapore along with decreased fertility rate is contributing to the longevity of the Singaporean population. In the upcoming years, the population ageing will have a profound impact on the society and the economy as the demand for certain services such as healthcare facilities sill increase. There will be small part of the population in the working age which will increase the burden of the society. As the age of the population is rapidly increasing, the country has shorter time frame to adapt to the changes (Ng, 2015). According to the statistics, by 2050, the Singaporean population will old faster than any other population in the world. The total fertility rate of the population is 1.3 which is very slow and giving rise in sandwiched families in which two or less working individuals have to support both elderly people and young children of the family (Population Singapore, 2016).
Population ageing is one of the most serious issues in Japan. Currently, about 25% of the Japanese population comprises of people aged 65 and over. It is expected that in the upcoming years, the senior population of the country will rise to about forty percent. Currently, the country is struggling with an enormous challenge as it is the oldest society in the world. The population of the country is continually on the rise and the younger population is delaying childbirth due to weak economic conditions of the country. The economy of the country is saturated and stagnant and number of jobs in the country is low. The economy of the country is contracting due to its stagnant nature which is resulting in slow birth rate in the country (Marlow, 2017).
In Japan, although the population age has increased, the family size has reduced. The Japanese economy is also indebted and thus the population aging has raised several issues in the economy of the country. The current trends in the population are showing that largest segment of the population households with a single person. As a result of the ageing population, the workers in the medical and welfare industry is increasing. The labor force of country is declining which is also cresting pressure on the country.
All the countries struggling with the ageing population are implementing several strategies to address the situation. Singapore has launched a 3 billion dollar scheme named “age well and live fulfilling lives” wherein the Singapore’s senior citizens will have the opportunity to learn, volunteer and live independently after retirement. It is important that the ageing population does not become a burden on the society and; therefore, several policies have been introduced to maintain the senior citizens of the country healthy and keeping them involved in their community. As a part of this policy, the country is also introducing elderly-friendly public transport system and therapeutic gardens to help senior citizens with dementia and stroke. The government has also made several other provisions to assist the people in ageing healthy and addressing age related health concerns. The government has also provided senior citizens activity center in which the senior citizens will be provided with social programs, rehabilitation and daycare facilities (Lai, 2015).
The Japanese government has also developed a large number of strategies to address the issue of ageing population in the country. In the last of year, taking care of the older population was considered as a priority or responsibility of the young population. However, with the longevity of the older generation and the increased ration of the older population, several issues occurred in the society. The government was reluctant to intervene in the system which results in long duration hospitalization and social isolation of the old people. The old citizens were admitted in the hospital not because they were ill but because there as no one to take care of the senior person. Moreover, the senior persons were also vulnerable to the violence and negligence by the family members. The Japanese government has responded radially to these issues. The government introduced long-term care insurance to all the people with 65 or higher age. The system is funded by the premiums paid by all the people above the age of 40 and part-funded by the national and the local taxation structure (Holder, 2014).
The countries all across the globe are struggling with population ageing and have implemented a number of strategies and solutions to combat population aging. It is an irreversible global trend and has far-reaching impact on the economic and socio-political consequences. The population aging has several fiscal and macroeconomic consequences on the society as the government has to increase its spending on pension, healthcare and social benefits. If the government has to diverge its spending from education and infrastructure to the social welfare programs for the elderly people, the overall economic growth and the quality of life of people will diminish. In most of the countries, the already high public spending limits the possibility of public spending. The policy solutions can ensure health and well-being of the citizens of all ages (Virpi, 2008).
As a result, a large number of countries are implementing different strategies to handle issues related to population ageing. The most effective solution is focused on work. The work or occupation is an essential part of the well-being of the person. Therefore, the work contribution can assist in the growth and well-being of the population. It can positively relate to the psychological wellbeing but also provides the senior citizens from the professional and the persona growth. As a result, the government should promote paid and unpaid work among the senior citizens. The unpaid or volunteer work refers to care work or artistic work of the senior citizens. The phase-in retirement is another strategy which can be used to control the finances for handling the older population. The phased-in retirement plan is also effective in combating the issue of population growth. The phased-in retirement allows the population to reduce the taxes and reduce expenditure on pension which can increase the macroeconomic stability and fiscal growth. The late-life work has a severe impact on the well-being of elderly by rewarding volunteering work, care and artistic work. Encouraging the older generations to remain longer in workforce is the best method to control the pressure on the economy due to population aging. The phased-in retirement refers to the retirement scheme wherein the older workers can choose to work for less time or easy work; however, they remain longer in the workforce. It will be beneficial for the society, employer and workers. Since the phased-in retirement allows the senior citizens to work, it will reduce the expenditure on pensions which can provide macroeconomic stability to the country. It will also be beneficial for the country as the older generation can impart their knowledge and experience to the young workers (Cire, 2016).
Volunteering is also effective technique to handle the issue of population aging. The participation of the older people in volunteer work can reduce the economic burden on the society as the volunteer activities will be targeted towards social welfare. The volunteering activities will also positively impact on the late0lifevolunteers as it will reduce the rate of deteriorating mental and physical health of the volunteers. These activities will also reduce the social isolation of the older generation which will positively impact on the mental health of the older population.
Conclusion
It can be concluded that population aging is a global phenomenon which has occurred which refers to the shift in age distribution towards older age. The mortality decline at later ages and reduction in fertility rate of the couples has increased the median age globally. The countries with declined fertility are experiencing higher proportion of elderly people. The population aging has several socio-economic and health consequences which can increase the burden on the public finances. In several Asian countries like Singapore and Japan, the population aging has become a serious phenomenon. By 2050, the Singapore population will old faster than any other population in the world. The aging population will reduce the total number of workforce in the country. It will increase the burden on the public finances as the government has to bear the cost of the healthcare expenses if the old population. Similarly, Japan is considered as the oldest society in the world due to the high proportion of the older population. The government can implement a large number of policies and frameworks to combat the issue of population aging. A semi-retirement scheme can be introduce in the country so that the people contribute a mandatory amount for the welfare of the population. The government can also increase the retirement age of the population. The semi-retirement scheme can establish progressive retirement in the country.
References
Cire, B. (2016). World’s older population grows dramatically. National Institute on Aging. [Online]. Available at: https://www.nia.nih.gov/newsroom/2016/03/worlds-older-population-grows-dramatically [Accessed on: 8 June 2017].
Holder, H. (2014). Japan’s solution to providing care for an ageing population. The Guardian. [Online]. Available at: https://www.theguardian.com/social-care-network/2014/mar/27/japan-solution-providing-care-ageing-population [Accessed on: 8 June 2017].
Hutt, R. (2016). Japan’s population is shrinking: What does it mean for the economy? [Online]. Available at: https://www.weforum.org/agenda/2016/02/japans-population-is-shrinking-what-does-it-mean-for-the-economy/ [Accessed on: 8 June 2017].
Lai, L. (2015). $3b plan to help seniors live more fulfilling lives. The Straits Times. [Online]. Available at: https://www.straitstimes.com/singapore/3b-plan-to-help-seniors-live-more-fulfilling-lives [Accessed on: 8 June 2017].
Lee, R.D., & Mason, A. (2011). Population Aging and the Generational Economy: A Global Perspective. Edward Elgar Publishing.
Marlow, I. (2017). JAPAN’S BOLD STEPS. The Globe and Mail. [Online]. Available at: https://www.theglobeandmail.com/globe-investor/retirement/retire-planning/how-japan-is-coping-with-a-rapidly-aging-population/article27259703/ [Accessed on: 8 June 2017].
Ng, K. (2015). Singapore feeling impact of rapidly ageing population. [Online]. Available at: https://www.todayonline.com/singapore/singapore-feeling-impact-rapidly-ageing-population [Accessed on: 8 June 2017].
Population Singapore. (2016). Older Singaporeans to double by 2030. [Online]. Available at: https://population.sg/articles/older-singaporeans-to-double-by-2030 [Accessed on: 8 June 2017].
Vettori, S. (2016). Ageing Populations and Changing Labour Markets: Social and Economic Impacts of the Demographic Time Bomb. CRC Press.
Virpi, T. (2008). Ageing Societies: A Comparative Introduction: A Comparative Introduction. McGraw-Hill Education (UK).
Yoshida, R. (2016). Japan census report shows surge in elderly population, many living alone. [Online]. Available at: https://www.japantimes.co.jp/news/2016/06/29/national/japan-census-report-shows-surge-elderly-population-many-living-alone/#.WTjoX-uGPIU [Accessed on: 8 June 2017].
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