The world is witnessing a profound demographic transformation as the elderly population, those aged 65 and above, grows faster than any other age group. This surge is attributed to longer life expectancies, declining birth rates, and the aging of the baby boomer generation.
This demographic shift presents significant challenges globally, including increased demand for healthcare services, pension sustainability, and ensuring the social inclusion and well-being of seniors. A robust, all-inclusive, and universally responsive social security system is essential not only for the dignity of senior citizens but also for fostering societal stability and intergenerational equity.
Recognizing this global urgency, China delivered a joint statement on October 4 at the 54th session of the United Nations Human Rights Council in Geneva. The statement, endorsed by approximately 80 countries, emphasized the need for improved social security systems for the elderly. It drew a parallel between the right to social security and human rights, stating, \"The right to social security is of central importance in guaranteeing human dignity for all persons when they are faced with circumstances that deprive them of their capacity to fully realize their human rights.\"
The United Nations highlights financial security for the elderly as a key aspect of social security and universal social protection. Major international human rights declarations, such as the Universal Declaration of Human Rights (1948) and the International Covenant on Economic, Social, and Cultural Rights (1966), recognize the right to social security and a decent standard of living in old age.
While the world has long been concerned about population growth, the current significant demographic challenge is population aging, a shift Gerontologists describe as the \"age quake\" that began in the early 21st century.
As of 2022, there were 771 million individuals aged 65 or older worldwide, making up nearly 10 percent of the global population. The World Population Prospects Report 2022 projects that by 2050, the global population aged 65 and above will reach 16 percent. This increase means that the number of elderly individuals will double the number of children under five and rival the number of children under twelve. Additionally, the report estimates that the number of countries experiencing a declining annual population will rise from 41 in 2022 to 88 by 2050.
Asia and the Pacific region are particularly challenged by population aging. In 2022, approximately 670 million individuals aged 60 and above resided in this region, about one in every seven people. Experts predict that this number will double to 1.3 billion by 2050, with elderly women comprising 54 percent of the total aged population.
The geographical distribution of the aging population varies significantly. Many high-income countries already have substantial elderly populations, while many low and middle-income countries in South Asia and Africa still maintain relatively young populations.
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Global urgency in enhancing social security systems for aged people
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