The Social Protection System For The Elderly Population

Abstract

Globally, the proportion of people over the age of 60 is growing faster comparing toother age cohorts, especially the developing world is likely to experience rapid ageing in the coming decades. For instance, according to the data from the UN’s “2019 Revision of World Population Prospects” shows that the population of people aged over 60 years is projected to double, from
12.62 million (7.77 percent of the total population) in 2019 to 25.24 million
(13.7 percent) in 2035. People of this age group are expected totriple in number in 2050, reaching around 42.1 million, which will account for 21.9 percent of the total population. That means by 2050, one out of five people will be over the age of 60. This trend in population ageing will continue throughout the century[1].