Asia's elderly care problem needn't become a crisis

There is a seemingly hidden problem for Asia in providing economic, social and emotional security for the elderly. But drawing on the experiences of more developed economies, I think there is a silver lining behind this - an opportunity if actions are taken now to provide care and to give dignity to the elderly in Asia.

Why do I call it a hidden problem? There are a host of reasons, including demographic shifts, poverty, vulnerability among elderly, and the loosening of family ties and responsibilities.

First, it is common knowledge that life expectancy in developed and developing countries has increased over the past several decades and continues to rise. However, according to the International Labour Organisation, it may come as a surprise that the ratio of elderly people is rising faster in developing countries than in the developed world.

In Asia, where life expectancy was just 41.2 years from 1950 to 1955, it is now expected to reach 70.3 years from 2010 to 2015 - an additional 30 years of active life. As well as increasing life expectancy, birth rates have also decreased in many parts of the world, resulting in a demographic shift where the percentage of the population comprising people over 60 is growing rapidly. This has resulted in rising economic dependencies.

Second, there is a common belief that the elderly are much poorer and more vulnerable than other age groups in developing countries. Older people often rely on income from meagre savings and support from family.

A majority of the world's older people in developing countries of Asia have no formal social security support such as pension schemes and health insurance. The elderly are also vulnerable because they are more likely to have health problems. In Asia, few have health insurance.