Population ageing is a global phenomenon that is unavoidable as a result of the demographic transition which results in decreases in fertility and increases in lifespan, and it is frequently associated with social and economic progress.
The United Nations has agreed to classify those aged 60 and over as part of the older or "ageing" population. The retirement age is related to the ageing population, and it varies for men and women depending on their functional capacity.
"Ageing population" refers to a situation in which an individual is unable to work as their typical everyday activity. Internationally, the working-age population is expected to decline by 10 per cent by 2060. It will plummet by 35 per cent or more in Greece, Japan, South Korea, Latvia, Lithuania and Poland.
Between 2015 and 2050, the percentage of people over 60 in the world's population will rise almost two-fold, from 12 to 22 per cent, with 80 per cent of the elderly residing in low- and middle-income nations.
The aged population in Malaysia is expected to rise at the quickest rate in the future decades due to historical and current trends in fertility and mortality.
According to the Department of Statistics Malaysia, the country will have an ageing population of 5.6 million seniors, or 15 per cent of the total population, by 2035.
The United Nations defines an ageing nation as one where over seven per cent of the population is 65 years of age due to the country's ageing population expanding faster than anticipated.
The Department of Statistics said Malaysia's proportion of people 65 and older will be 17 per cent in 2050. So, the country will qualify as an ageing nation before 2035.
By 2056, Malaysia will have a "super-aged society," with more than 20 per cent of the population being over 65. Fewer people of working age will join the workforce as the population matures.
Aside from an increase in the elderly population, the elderly are living longer lives, as demonstrated by an increase in life expectancy. Because women typically live longer than men, the gap between the genders widens as people get older. Due to the lack of qualified personnel, it will be more difficult for businesses to fill positions that are in high demand.
An ageing population presents numerous other challenges. Loss of independence, along with physical deterioration and ageism, will be among the potential outcome of the process. Furthermore, senior citizens will confront a number of difficulties, including poor healthcare, hunger and a lack of senior housing.
The elderly is in poorer health than younger generations. The devastation caused by numerous acute and chronic diseases is exacerbated by physical and social changes associated with ageing.
As a result, elderly adults usually have many illnesses that generate a wide range of symptoms. Rising healthcare expenses and unstable annuities will only aggravate the problems of the aged as well as an inadequate infrastructure developed with their needs in mind.
Moving forward, government and civil society must ensure financial stability, a medical and long-term healthcare system, social wellbeing, an appropriate environment, and accessible accommodation and transportation for the elderly.
Furthermore, it is critical to constantly emphasise to people that getting older is not a disease and that early disability prevention measures can be implemented.
Elderly malnutrition is anticipated to be a significant issue. This is a result of dietary changes, poor dental health, and the types and quantities of food consumed. Regular nutrition education should be given because it is crucial to prevent nutritional issues.
Additional problems include discrimination against older people who want to learn a new skill, older workers being less motivated and able to adapt to a new situation, or older workers feeling anxious and having reduced confidence in themselves.
It is inevitable that this nation's population will get older. The ageing population poses particular challenges that will increase demands on health and social services.
The demographic trend of population ageing will have a big impact on many governmental policies. Public expenditure will be higher as the share of the elderly population grows to account for the anticipated rise in healthcare, pension and long-term care costs. Additionally, a growing elderly population will result in a lack of workers and raise concerns about the stability of old-age benefits.
In order to meet the problems posed by population ageing, the government, corporations, and society as a whole must be prepared to adjust to changing requirements and structural demographics in the economy.
The writer is research fellow at the Ungku Aziz Centre for Development Studies (UAC), Office of Deputy Vice Chancellor (Research & Innovation), Universiti Malaya
The views expressed in this article are the author's own and do not necessarily reflect those of the New Straits Times