Protection Against Old Age vulnerabilities
Vulnerabilities in old age are the serious matter of concern and pose greater challenges in a broader perspective. Old age population in Pakistan is estimated to be around 12.5 million, which makes 7 percent of the country’s total population. It is expected to be even higher increase in the elderly population of Pakistan in the near future. Older people face different challenges related to health, economic and social issues. Older people also suffer from poverty due to lack of physical and psychological ability to work. Ageing population increases dependency on the working population as their contribution to the economy declines and their needs increase with the age. The elderly women are worse off than elderly men in terms of physical, social and economic wellbeing, especially in the developing economies like Pakistan with high gender inequality. Pakistan’s economy needs to be prepared to deal with this incoming change in demographics, in order to maximize the nation’s wellbeing. Hence, there is need to provide social assistance, insurance and security for the improvement of well-being of older persons through inclusive and defined social protection system in the country.