By United Nations. Economic and Social Commission for Asia and the Pacific
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Extra info for Ageing in Asia and the Pacific: Emerging Issues and Successful Practices (Social Policy Paper)
As the demographic and social changes are occurring, the experiences and expectations of older Australians will also change. Role definitions for different ages and stages of life are being challenged as people are living healthier and independent lives for much longer after the traditional retirement age. Future generations of older people will demand greater choice and flexibility in the way they live their lives and participate in society. Future generations of older Australians are likely to be wealthier, more vocal and articulate as a result of better education, greater workforce participation by women, and greater coverage of superannuation arrangements.
This benefits the current generation of older persons who have little or no savings. Future generations need to invest in ways to finance their impending health care needs. Japan, the Republic of Korea, and Singapore offer examples of making significant inroads in this arena. These countries have been at the forefront of developing ways to finance LTC. Japan recently launched a Public Long-Term Care Insurance Act which covers all residents of Japan aged 40 and above, with certain conditions applying to particular age groups.
Women are also more likely to experience mental and emotional impacts of widowhood, often linked with the experience of financial strain. The availability of social networks has been found to be particularly important for women in easing the transition to old age. In addition, increased income and educational levels promote greater well-being among older women. Government policies to increase the levels of education among women will serve to lessen the negative impacts of ageing. Older women are also more likely to experience financial strain during retirement.
Ageing in Asia and the Pacific: Emerging Issues and Successful Practices (Social Policy Paper) by United Nations. Economic and Social Commission for Asia and the Pacific