The Aging Population and Political Participation in Japan

Size: px
Start display at page:

Download "The Aging Population and Political Participation in Japan"

Transcription

1 Challenges to Developing Country The Aging Population and Political Participation in Japan Name: Wilda Fatma Apsari Student Number: International Program of International Relations Faculty of Social and Politics Universitas Muhammadiyah Yogyakarta 2014

2 The Aging Population and Political Participation in Japan Arranged by: Wilda Fatma Apsari Student of International Relations, Social and Politics Universitas Muhammadiyah Yogyakarta Abstract After the World War II, Japan experienced the mass of new generation. Around 2,7 million babies were born. In the past time, this demographic change might give the beneficial to the developing of Japan in beginning of Industrial era in term of economic. However, in recent time it leaves the new challenges for Japanese not only in social, economic, but in political matter as well. Thus, this paper tries to find the impact of this phenomenon toward the elder and younger society demand in politics and the political participation each of the generations.

3 Introductions People aging or aging population is the condition of the demographic structure and proportion shifting into the increasing of elderly people. This phenomenon driven by the low fertility and low mortality of the country when a small number of children were born and long lifetime of the current people occurs. The aging population process is quiet common in developed country, such as Japan, Germany, United Kingdom, even in Italy and Sweden. 1 The developed country which having the sufficient public health facilities let the society are healthier than in developing country. The way people conduct their life also made them to have a longer life time. In year of 1947 to 1949 after the World War II era, Japan experiences Dankai or usually to be called as baby boom. It is where the huge number of baby bearing happened in Japan. Around 2.7 million people were born in that time and several of them still alive today in a very old condition with cognitive and physically problems. 2 In the beginning of twentieth century the life expectancy of Japan is still lower than European country. By the time, in the end of twentieth century, Japan demography changed rapidly and turned into the first category of high aging population and the highest life expectancy of the people, compared to other developed country such as Germany, United Kingdom, and United states. Ironically, in Nanmoku, around 85 miles from Tokyo, an elementary school only has a single student in 2012 which indicated the rapid aging population happens in Japan. 3 The recent issues about Japan s population aging, according to Ministry of Health, labor and Welfare, is that Japan populations predicted will decline a million people every year by It will be around 40% of the population which age is over 65 years old. The shifting of the demographic structure of Japan gives the new challenge to Japan society. The populations aging is not merely about the social demographic problem, but it encompasses to economic and 1 Source: United Nations, Replacement Migration (New York: United Nations, 2001), 8, Table 2 and , Appendix. Projections for 2005, 2025 and 2050 are based on the UN's medium-variant projections. For Sweden, two additional Source were used: Chikako Usui. Japan s Aging Dilemma. Asia Program Special report page (last accessed january 02, 2015) 3 NYTimes: Without Babies, Can Japan Survive? ( last accesed: January O1, 2014

4 political issues as well. The shifting of the people age drives the elderly to have different expectation toward political activity compared to the youth. The government should change the domestic policy to adjust with the new conditions immediately before the populations decline too far and bringing the new and more serious problems. Research Question How big is the impact of demographic changing in Japan in case of the rapid old people increasing toward its political participation?

5 Political Participation and Aging in Japan Political participation is the way of the society directly involving in political process in decision making process. In this participation, societies are allowed to influence the political actor behavior in order to improving the life quality of the society and it is become an option for the government to know the society willingness. Elections is not the only way to conducting the political participation in democratic country, but it is become the easiest method to show the level of participation of the society toward domestics politics. The election gives the valid data to be observed. From this data known that some pattern and political trend are happen in every election. Below are the level of political participations to the Japanese Lower House in after the electoral reformation based on the voter s age. 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Lower House Turnout after Electoral Reform Table 1: Mochio Umeda. the Effect of Population Aging on Politics: The Difficulty of Countering Silver Power in Japan There are common assumptions that older people are more conservative than the younger. The older people are reluctant to join the election. However, in developed industrial country experience the different. Basically, the level of political consciousness of a person depends on the experience they have. The different level of education, living place or environment, and the level of economics highly affected on the way people choose their stand. From the data above, in age of 20s are in the lowest position of political participation. Then, it

6 increase parallel with the age increasing until get the average of 50 years old. It means that the political participation is develop when an individual have enough experience and information toward the political matter. Logically, the older of an individual, the more complex of the need they have and higher expectation to have a better life. In 60 years old people remained to have political participation and even the highest compared to the age below. When the people turn to the age of 70 and over, the voting turnout is significantly decreasing in their political participation. It might be caused by the physical disability and cognitive decline due to their age. The other form of participation can be a demonstration, but this form of participation doesn t work to the old people because of the declining of physical capacity. The most possible form is the society consciousness to join in a certain group of interest to facilitate and collecting the aspiration of elder people willing. There are such associations that help for the retired people in Japan. It is similar with the AARP (American Association of retired Persons) in United States but a number of Japan elderly are reluctant to join the interest group. There are some assumptions toward the elderly reluctance to join such the group interest for retired people. a. Retired person are already having the problem of health The association of the retirement people usually based on the non-profit organization. Means that all the activity of the organization will conducted by the member itself. It seems difficult for the old people in 65 and over to organize the organization by their self, although they themselves still need the help of the younger people to accompany them in daily life, especially for people with the problem of physics and mental. b. Rural society Rural people are mostly shopkeeper, owner of private business or a farmers which impossible to get the retired. Even some of the still working even their age already passes the working age. For rural people by following the election might be enough for their political participations because what they need are the stable economic which will directly affected their job instead of how to get public pensions fee. c. Still in Age of Working The active organization of elderly society needs the members who are in years old that still have the healthy physic. But Japanese people, especially for the men, tend to

7 work beyond the working age limit (65). Elderly persons still active in labor markets, it makes them more obligate to work place then join and work in non-profit group interests of retirees. d. The old people are comfortable with the current condition, which give the sufficient public pension. Japanese government has prepared the high amount for the public pension in order to fulfill the need of the elderly toward the health care, insurance, and the cost for nursing them. In 2010, the government expense for pension is around 51,133.2 billion and 16,3 trillion for total basic pension expenses. 4 From those assumptions, the effectiveness and efficiency of elder organization in Japan become questioned because non-profit organization needs a budget support and cognitive ability to arrange the agenda to influence the government policy making process. The Significant Issues of Elderly Participation The Percentage of People Over 65 Based on total populations (last acessed: january 01, 2015) 5 Source: United Nations, Replacement Migration(New York: United Nations, 2001), 8, Table 2 and , Appendix. Projections for 2005, 2025 and 2050 are based on the UN's medium-variant projections. For Sweden, two additional sources were used: Chikako Usui. Japan s Aging Dilemma. Asia Program Special report Page 18.

8 Since 1994, the new electoral system was introduced. To get the position the party only needed 20-30% from the total voters. 6 In democratic system the party got majority voice would hold the power, in this case the voice of old people become very significant. From years of 1985 until today the number of older people consistently increase in every year. Moreover, it predicted that the number of this population will rises in a number of 31,8% of the total populations. In case of the result of Election in 2012 and several years before, the political participation of older people is higher than the younger. It means that the younger aspiration being left out by the majority willing of the elderly. Even the older people does not have the certain interest group to contain their aspiration, such as AARP that has mentioned before, some of them are actively fight for their interest. As the example of political activity, Koenkai. According to Japanese surveys, people who in 50s, 60s, and 70s are dominated the number of the member. Koenkai itself is local support group which have the function to keep in touch with the public demand and opinion. It also has the function to search the financial support to conduct the political activity. Liberal Democratic Party of Japan is known as the traditional Japanese political party because it is already exists in 1880s. 7 The leader of Liberal Democratic Party of japan, Kan Naoto, recognized himself as the part of baby boomer. Thus he knows exactly the process of the people aging that affected japan today s policy. In October 2005, he proposed the establishment of new party to facilitate the aspiration of the baby boomer that reaches their pension period in He called the party as Dankai Party. Japan policy toward the pension system in changing demographic condition made the elder people having more interest in politics. It might lose their opportunity to get the elder facilities like what they get today from government. Thus, perhaps, also become the reason for the politician avoid to mention about the pension system, inefficient healthcare, the economic difficulties that facing by the young generations because of the fear the majority of the voters will go away. 6 (last accesed January o1, 2014) 7 (last acessed by december 31, 2014)

9 Future Problem and Demand for Youth Japan population will shrink from 128 million people into only less than 100 million people in 2060, according to the Ministry of Health, labor and Welfare prediction. The similar condition will be happen if government does not take the immediate action to prevent the worst condition. Where the low fertility still occurs and old people still dominate the population. The aging population will bring the high medical cost, health care, expanding the public pension, the low employment and the changing of political direction into old people-needed tendencies. Above is the image of the projection of people in working age responsibility to older people through tax paying. Japan elder people will reach a two-to-one ratio to its working age population between 15 to 65 years old by The worst will be on 2050 that one of the working age should have a burden of one pensioner. It seems that Japan people is really respect to old people. Some of younger people tied understand that the high tax they should pay is for the economic stability reason, even they know that the public pension is already start at the age of 65 with the life expectancy possibilities until 79 years. Obviously, is not a short time. Ironically, a lot of old people in Japan are richer than the working age, some of them get the lower wage even they have the better skill than the older one. 8 Yasuo Takao. The Dankai Generation in a Political Swing

10 Nowadays, the political participation of the younger society still not significant in public pension policy and related to aging impact matter. However, if the government let the population shrink, it can be assured that the next young generation by 2025 will take the real action to maintain their economic welfare. The increasing of the elderly population will not only gives a heavy burden on the working age population. It will also let the retired people in a position to act as decision-making within the government which can be predict the future impact to Japan politics. Conclusion The baby boomers phenomenon after the second World War is highly affected todays government policy as well as the political participation of the elder people itself and the younger generations. It also drives the demand of each different generations. The aging population will change the democratic system of Japan. It let the people to rethink about the significant of young direct involvement in polical matter.

11 References Butkiewicz, Lynann. Impliations of Japan Changing Demographic. Report of The National Bureau Of Asian Research, October Japanese Pension System. ( last accessed: january Chikako Usui. Japan s Aging Dilemma. Asia Program Special report accessed January 02, 2015) (last NYTimes: Without Babies, Can Japan Survive? ( last accesed: January O1, (last acessed: January 01, 2015)

Japan Stares into a Demographic Abyss

Japan Stares into a Demographic Abyss The Asia-Pacific Journal Japan Focus Volume 4 Issue 5 May 06, 2006 Japan Stares into a Demographic Abyss Hisane MASAKI Japan Stares into a Demographic Abyss By Hisane MASAKI TOKYO - Japan's population

More information

Issues linked to Settlement and population. The UK s ageing population; a contemporary geographical issue

Issues linked to Settlement and population. The UK s ageing population; a contemporary geographical issue Issues linked to Settlement and population The UK s ageing population; a contemporary geographical issue We are healthier, living longer and doing more than ever before. What is the problem? What is the

More information

STUDY OF HEALTH, RETIREMENT AND AGING

STUDY OF HEALTH, RETIREMENT AND AGING STUDY OF HEALTH, RETIREMENT AND AGING experiences by real people--can be developed if Introduction necessary. We want to thank you for taking part in < Will the baby boomers become the first these studies.

More information

Overview of Life Insurance Industry in Japan

Overview of Life Insurance Industry in Japan FALIA Invitational Seminar in Japan Risk Management Course Overview of Life Insurance Industry in Japan September 6, 2017 Hirofumi Kurata Chief International Affairs Dept. The Life Insurance Association

More information

Patterns of Unemployment

Patterns of Unemployment Patterns of Unemployment By: OpenStaxCollege Let s look at how unemployment rates have changed over time and how various groups of people are affected by unemployment differently. The Historical U.S. Unemployment

More information

Populations: an Introduction to Demography. Population Trends In Canada

Populations: an Introduction to Demography. Population Trends In Canada Populations: an Introduction to Demography Population Trends In Canada Demography Demography is the study of populations over time and over place. The three major components of demography are: (1) mortality,

More information

The Impact of Globalisation on Systems of Social Security

The Impact of Globalisation on Systems of Social Security The Impact of Globalisation on Systems of Social Security prepared for the 9 th NISPAcee Annual Conference: Government, Market and the Civic Sector: The Search for a Productive Partnership (Working group

More information

"Opportunities and Challenges of Demographic Change in Europe"

Opportunities and Challenges of Demographic Change in Europe SPEECH/10/385 László Andor EU Commissioner Employment, Social Affairs and Inclusion "Opportunities and Challenges of Demographic Change in Europe" Economic Council Brussels Brussels, 13 July 2010 Ladies

More information

Population of older people to surpass number of children

Population of older people to surpass number of children 1 Key words Fill the gaps in the sentences using these key words and phrases from the text. ageing burden landmark unprecendented pensioner carer census challenge retirement life expectancy 1. 2. is the

More information

Kazumasa Iwata: Japan s economy under demographic changes

Kazumasa Iwata: Japan s economy under demographic changes Kazumasa Iwata: Japan s economy under demographic changes Summary of a speech by Mr Kazumasa Iwata, Deputy Governor of the Bank of Japan, at the Australia- Japan Economic Outlook Conference, Sydney, 7

More information

Coping with Population Aging In China

Coping with Population Aging In China Coping with Population Aging In China Copyright 2009, The Conference Board Judith Banister Director of Global Demographics The Conference Board Highlights Causes of Population Aging in China Key Demographic

More information

Global Aging and Financial Markets

Global Aging and Financial Markets Global Aging and Financial Markets Overview Presentation by Richard Jackson CSIS Global Aging Initiative MA s 16th Annual Washington Policy Seminar Cosponsored by Macroeconomic Advisers, LLC Council on

More information

Trends in Employment Stabilization of Older Persons Achieving Work-Life Balance in the Aging Society

Trends in Employment Stabilization of Older Persons Achieving Work-Life Balance in the Aging Society Trends in Employment Stabilization of Older Persons Achieving Work-Life Balance in the Aging Society by Masaharu Aoyama Social Development Research Group aoyama@nli-research.co.jp The amended law concerning

More information

by Jennifer Anderson Jeff Potash

by Jennifer Anderson Jeff Potash POPULATION DYNAMICS Connecting Past, Present and Future A Four- Part Curriculum PART D America s Baby Boom and Global Youth Bulges by Jennifer Anderson Jeff Potash 2015 Creative Learning Exchange, www.clexchange.org

More information

Maintaining the sustainable development within the global aging

Maintaining the sustainable development within the global aging Maintaining the sustainable development within the global aging Forum: Economic and Social Council Student Officer: SiHoo Lee, President Introduction Global aging is a worldwide phenomenon and one of the

More information

Ageing people, ageing workers Health surveillance of Italian health care workers

Ageing people, ageing workers Health surveillance of Italian health care workers Ageing people, ageing workers Health surveillance of Italian health care workers Lucia Isolani, M.D. Public Health Service, ASUR Marche Macerata - Italy Professor of Occupational Medicine at Faculty of

More information

Changes in the Japanese Pension System

Changes in the Japanese Pension System Changes in the Japanese Pension System Takayama Noriyuki Japan Echo, October 2004 The administration of Prime Minister Koizumi Jun ichirō submitted a set of pension reform bills to the National Diet on

More information

I Overview of the System and the Basic Statistics [1] General Welfare and Labour

I Overview of the System and the Basic Statistics [1] General Welfare and Labour I Overview of the System and the Basic Statistics [1] General Welfare and Labour Population Structure Overview The Population Pyramid in Japan Age 100 or over Age 76: the number of births decreased in

More information

Florida Demographic In-Depth Analysis

Florida Demographic In-Depth Analysis Florida Demographic In-Depth Analysis Taxation & Budget Reform Commission Presented by: The Florida Legislature Office of Economic and Demographic Research 850.487.1402 http://edr.state.fl.us Economy Population

More information

The impact of an ageing world on our society and economy

The impact of an ageing world on our society and economy Presentation to: Food Matters Live Independent Economics The impact of an ageing world on our society and economy Ben Combes 18 November 2014 www.llewellyn-consulting.com The fundamentals of ageing Populations

More information

Mr. Chairman, Senator Conrad, and other distinguished members of the Committee,

Mr. Chairman, Senator Conrad, and other distinguished members of the Committee, Ronald Lee Professor, Demography and Economics University of California, Berkeley Rlee@demog.berkeley.edu February 5, 2001 The Fiscal Impact of Population Aging Testimony prepared for the Senate Budget

More information

The benefits of an ageing population

The benefits of an ageing population THE AUSTRALIA INSTITUTE The benefits of an ageing population Judith Healy Australian National University Discussion Paper Number 63 March 2004 ISSN 1322-5421 ii The Australia Institute This work is copyright.

More information

Social Security Viewed from a Demographic Perspective: Prospects and Problems

Social Security Viewed from a Demographic Perspective: Prospects and Problems Social Security Social Security Viewed from a Demographic Perspective: Prospects and Problems JMAJ 45(4): 161 167, 22 Naohiro OGAWA Deputy Director, Population Research Institute, Professor, College of

More information

For much of the last half century, public. The Real. Too Few Working, Too Many Retired

For much of the last half century, public. The Real. Too Few Working, Too Many Retired The Regional Economist April 25 The Real Too Few Working, Too Many Retired B Y W I L L I A M POOLE AND DAVID C. WHEELOCK For much of the last half century, public discussion of population issues has focused

More information

Retirement Income Scenario Matrices. William F. Sharpe. 1. Demographics

Retirement Income Scenario Matrices. William F. Sharpe. 1. Demographics Retirement Income Scenario Matrices William F. Sharpe 1. Demographics This is a book about strategies for producing retirement income personal income during one's retirement years. The latter expression

More information

Labor Market Policies in the Era of Population Aging: Japan s Case

Labor Market Policies in the Era of Population Aging: Japan s Case 1 Labor Market Policies in the Era of Population Aging: Japan s Case Iwata, Katsuhiko (The Japan Institute for Labour Policy and Training) October 2003 Introduction This report comprises: Chapter 1-Rapid

More information

Chapter 2 Population Prospects in Japanese Society

Chapter 2 Population Prospects in Japanese Society Chapter 2 Population Prospects in Japanese Society Abstract Although there were some interruptions at wartimes, the growth of Japanese population reached its peak in 2008, and then began to decrease. There

More information

STRUCTURAL REFORM REFORMING THE PENSION SYSTEM IN KOREA. Table 1: Speed of Aging in Selected OECD Countries. by Randall S. Jones

STRUCTURAL REFORM REFORMING THE PENSION SYSTEM IN KOREA. Table 1: Speed of Aging in Selected OECD Countries. by Randall S. Jones STRUCTURAL REFORM REFORMING THE PENSION SYSTEM IN KOREA by Randall S. Jones Korea is in the midst of the most rapid demographic transition of any member country of the Organization for Economic Cooperation

More information

The U.S. Aging Challenge in International Perspective

The U.S. Aging Challenge in International Perspective The U.S. Aging Challenge in International Perspective Richard Jackson Center for Strategic & International Studies Government-University-Industry Roundtable February 29, 2012 The Demographic Transformation

More information

DEMOGRAPHY AND THE ECONOMY

DEMOGRAPHY AND THE ECONOMY DEMOGRAPHY AND THE ECONOMY David Keyser State Demography Office September 22, 2011 Colorado.gov/demography Demography Powerful Big changes often predictable Informative Today Information about us Role

More information

The impact of the demographic bonus in the pension systems of social security ACT. DANIELA ALEJANDRA GONZÁLEZ RAMÍREZ ACT. CARLOS CONTRERAS CRUZ

The impact of the demographic bonus in the pension systems of social security ACT. DANIELA ALEJANDRA GONZÁLEZ RAMÍREZ ACT. CARLOS CONTRERAS CRUZ The impact of the demographic bonus in the pension systems of social security ACT. DANIELA ALEJANDRA GONZÁLEZ RAMÍREZ ACT. CARLOS CONTRERAS CRUZ INTRODUCTION Nowadays Mexico faces one of the biggest demographic

More information

Econ 698s: Lecture Notes Introduction to the Economic Analysis of Social Insurance Professor John Rust

Econ 698s: Lecture Notes Introduction to the Economic Analysis of Social Insurance Professor John Rust Objectives of course: Econ 698s: Lecture Notes Introduction to the Economic Analysis of Social Insurance Professor John Rust 1. Issues: Understanding current financing issues arising from the demographic

More information

Economic and Demographic Trends. SUNY Critical Issues in Higher Education November 8, 2012

Economic and Demographic Trends. SUNY Critical Issues in Higher Education November 8, 2012 Economic and Demographic Trends SUNY Critical Issues in Higher Education November 8, 2012 Introductions 2 Moderator: Ron Pressman, Executive Vice President & Chief Operating Officer, TIAA-CREF Panelists:

More information

Ch In other countries the replacement rate is often higher. In the Netherlands it is over 90%. This means that after taxes Dutch workers receive

Ch In other countries the replacement rate is often higher. In the Netherlands it is over 90%. This means that after taxes Dutch workers receive Ch. 13 1 About Social Security o Social Security is formally called the Federal Old-Age, Survivors, Disability Insurance Trust Fund (OASDI). o It was created as part of the New Deal and was designed in

More information

australia Statistical Profile introduction to australia australia statistical profile no.14 november 2009

australia Statistical Profile introduction to australia australia statistical profile no.14 november 2009 australia australia australia Statistical Profile Tia Di Biase, Joanne Goodall, Annie Chen and Philip Taylor introduction to australia Australia Papua New Guinea About this Statistical Profile Organizations

More information

Wealth and Welfare: Breaking the Generational Contract

Wealth and Welfare: Breaking the Generational Contract CHAPTER 5 Wealth and Welfare: Breaking the Generational Contract The opportunities open to today s young people through their lifetimes will depend to a large extent on their prospects in employment and

More information

Population Changes and the Economy

Population Changes and the Economy Population Changes and the Economy Predicting the effect of the retirement of the baby boom generation on the economy is not a straightforward matter. J ANICE F. MADDEN SOME ECONOMIC forecasters have suggested

More information

Demographic Changes and Macroeconomic Challenges

Demographic Changes and Macroeconomic Challenges January 17, 2019 Bank of Japan Demographic Changes and Macroeconomic Challenges Keynote Speech at the G20 Symposium in Tokyo Haruhiko Kuroda Governor of the Bank of Japan Introduction I would like to express

More information

Future care - baby boomers expectations of care and support in late life Kathy Glasgow. Overview

Future care - baby boomers expectations of care and support in late life Kathy Glasgow. Overview Future care - baby boomers expectations of care and support in late life 2016 Kathy Glasgow Overview Characteristics of NZs baby boomers What boomers think about growing older Their attitudes to care and

More information

TOWARDS FURTHER RESEARCH IN DEMOGRAPHICS

TOWARDS FURTHER RESEARCH IN DEMOGRAPHICS TOWARDS FURTHER RESEARCH IN DEMOGRAPHICS Masaaki Shirakawa Aoyama-Gakuin University December 19, 2014 Societal Ageing and the Japanese Economy, Symposium hosted by the Graduate School of Economics and

More information

Volume Title: The Economic Consequences of Demographic Change in East Asia, NBER-EASE Volume 19

Volume Title: The Economic Consequences of Demographic Change in East Asia, NBER-EASE Volume 19 This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: The Economic Consequences of Demographic Change in East Asia, NBER-EASE Volume 19 Volume Author/Editor:

More information

Health and Labor Force Participation among Older Singaporeans

Health and Labor Force Participation among Older Singaporeans Health and Labor Force Participation among Older Singaporeans 21 October 2011 Singapore Economic Policy Forum Young Kyung DO and Treena WU Program in Health Services and Systems Research Duke-NUS Graduate

More information

Evaluation Criteria for Pension System and Their Applications to Pension Reform in Japan

Evaluation Criteria for Pension System and Their Applications to Pension Reform in Japan Evaluation Criteria for Pension System and Their Applications to Pension Reform in Japan Prepared by Miki Arimori Presented to the PBSS Program Part of the IACA, PBSS & IAAust Colloquium 31 October 5 November

More information

THE LONG-TERM SUSTAINABILITY OF PUBLIC FINANCE IN JAPAN. Yukihiro Oshika *

THE LONG-TERM SUSTAINABILITY OF PUBLIC FINANCE IN JAPAN. Yukihiro Oshika * THE LONG-TERM SUSTAINABILITY OF PUBLIC FINANCE IN JAPAN Yukihiro Oshika * Introduction Compared to other advanced countries, the public finance of Japan is in the worst position in terms of debt level.

More information

I3: The Emergence of Healthcare as a Global Issue

I3: The Emergence of Healthcare as a Global Issue I3: The Emergence of Healthcare as a Global Issue Chris Burns Agenda Key Global Trends Centralization of Purchasing War For Talent Trends In Global Healthcare Financing, Data and Analytics 2 1 Key Global

More information

More & More Americans Having to Work Past Age 70

More & More Americans Having to Work Past Age 70 More & More Americans Having to Work Past Age 70 July 18, 2017 by Gary Halbert of Halbert Wealth Management 1. Almost One-Fifth of Americans Are Working Past Age 70 2. Seniors, There s No Guarantee of

More information

Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL. on the European Year for Active Ageing (2012) (text with EEA relevance)

Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL. on the European Year for Active Ageing (2012) (text with EEA relevance) EUROPEAN COMMISSION Brussels, 6.9.2010 COM(2010) 462 final 2010/0242 (COD) C7-0253/10 Proposal for a DECISION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on the European Year for Active Ageing (2012)

More information

ESID/SPAG/CS5 25 July Seminar on the Social, Health and Economic Consequences of Population Ageing in the Context of Changing Families

ESID/SPAG/CS5 25 July Seminar on the Social, Health and Economic Consequences of Population Ageing in the Context of Changing Families FOR PARTICIPANTS ONLY ESID/SPAG/CS5 25 July 2007 UNITED NATIONS ECONOMIC AND SOCIAL COMMISSION FOR ASIA AND THE PACIFIC UNITED NATIONS POPULATION FUND UNITED NATIONS DEPARTMENT OF ECONOMIC AND SOCIAL AFFAIRS

More information

Submission on the Productivity Commission s commissioned study. Economic Implications of an Ageing Australia

Submission on the Productivity Commission s commissioned study. Economic Implications of an Ageing Australia Submission on the Productivity Commission s commissioned study Economic Implications of an Ageing Australia October 2004 1 About Volunteering Australia Volunteering Australia is the national peak body

More information

Reforming Social Security in Japan: Is NDC the Answer?

Reforming Social Security in Japan: Is NDC the Answer? Chapter 24 Reforming Social Security in Japan: Is NDC the Answer? Noriyuki Takayama* JAPAN ALREADY HAS THE OLDEST POPULATION IN THE WORLD. It has built a generous social security pension program but, since

More information

Masaaki Shirakawa: The transition from high growth to stable growth Japan s experience and implications for emerging economies

Masaaki Shirakawa: The transition from high growth to stable growth Japan s experience and implications for emerging economies Masaaki Shirakawa: The transition from high growth to stable growth Japan s experience and implications for emerging economies Remarks by Mr Masaaki Shirakwa, Governor of the Bank of Japan, at the Bank

More information

An overview of social pensions by Stephen Kidd

An overview of social pensions by Stephen Kidd DEVELOPMENT An overview of social pensions by Stephen Kidd New Zealand s Minister of Finance, when arguing for his country s universal pension The ability to retire in a degree of personal comfort, without

More information

Lessons from Sweden. This presentation

Lessons from Sweden. This presentation Lessons from Sweden John A. Turner Pension Policy Center Presentation to Retirement 20/20 November 17, 2008 This presentation In this presentation, I will: Provide an overview of the Swedish retirement

More information

Risks and opportunities for the financial sector in an aging society

Risks and opportunities for the financial sector in an aging society Risks and opportunities for the financial sector in an aging society Speech by Ryozo Himino, Vice Minister for International Affairs, Financial Services Agency, Japan, at the G20 Symposium: For a Better

More information

Study on the Global Trends of Delay Retirement and Potential Demand in China

Study on the Global Trends of Delay Retirement and Potential Demand in China Human Resource Management Research 2014, 4(2): 27-32 DOI: 10.5923/j.hrmr.20140402.03 Study on the Global Trends of Delay Retirement and Potential Demand in China Huang Lu School of Management Studies,

More information

Critical Demographics: Rapid Aging and the Shape of the Future in China, South Korea, and Japan

Critical Demographics: Rapid Aging and the Shape of the Future in China, South Korea, and Japan Critical Demographics: Rapid Aging and the Shape of the Future in China, South Korea, and Japan Briefing for Fast Forward Scenario Planning Workshop February 27, 29 DIFFERENT SHAPES, DIFFERENT REALITIES

More information

Changing Population Age Structures and Sustainable Development

Changing Population Age Structures and Sustainable Development Changing Population Age Structures and Sustainable Development Report of the Secretary-General to the 50 th session of the Commission on Population and Development (E/CN.9/2017/2) Population Division,

More information

Hello, my name is [Name]. I m here to talk about planning for long-term care expenses and the importance of helping to protect your clients' wealth

Hello, my name is [Name]. I m here to talk about planning for long-term care expenses and the importance of helping to protect your clients' wealth Hello, my name is [Name]. I m here to talk about planning for long-term care expenses and the importance of helping to protect your clients' wealth and their loved ones. 1 We ll talk about: [Read from

More information

Social Protection and Social Inclusion in Europe Key facts and figures

Social Protection and Social Inclusion in Europe Key facts and figures MEMO/08/625 Brussels, 16 October 2008 Social Protection and Social Inclusion in Europe Key facts and figures What is the report and what are the main highlights? The European Commission today published

More information

The Business of Ageing Update 2015

The Business of Ageing Update 2015 INTRODUCTION i The Business of Ageing Update 2015 This report provides an update to the report: Realising the Economic Potential of Older People in New Zealand: 2051 ii THE BUSINESS OF AGEING UPDATE 2015

More information

CASE STUDY. Seoul 50+ policy Republic of Korea

CASE STUDY. Seoul 50+ policy Republic of Korea CASE STUDY Seoul 50+ policy Republic of Korea Technological progress, globalisation and demographic changes have a pronounced effect on labour markets. 130 Ageing and the automation of jobs megatrends

More information

"GOLD" POPULATION STRUCTURE AND SOCIAL SECURITY ISSUES OF VIETNAM: OPPORTUNITIES AND CHALLENGES

GOLD POPULATION STRUCTURE AND SOCIAL SECURITY ISSUES OF VIETNAM: OPPORTUNITIES AND CHALLENGES "GOLD" POPULATION STRUCTURE AND SOCIAL SECURITY ISSUES OF VIETNAM: OPPORTUNITIES AND CHALLENGES Prof, Dr. Nguyen Dinh Cu Institute for Population Studies and Social Issues Studies, National Economics University

More information

SDN19/01 launch, Tokyo, 10AM, Wed, Jan 16, 2019 Introductory remarks by David Lipton, First Deputy Managing Director, IMF

SDN19/01 launch, Tokyo, 10AM, Wed, Jan 16, 2019 Introductory remarks by David Lipton, First Deputy Managing Director, IMF SDN19/01 launch, Tokyo, 10AM, Wed, Jan 16, 2019 Introductory remarks by David Lipton, First Deputy Managing Director, IMF Good morning. Thank you for coming to today s launch of the IMF Staff Discussion

More information

Unemployment and its natural rate. Chapter 27

Unemployment and its natural rate. Chapter 27 1 Unemployment and its natural rate Chapter 27 What we learn in this chapter? This is the last chapter of Part IX: the real economy in the long run In Chapter 24 we established the link between production,

More information

国際共同研究 人口減少が経済社会に与える影響 WG1 マクロ経済成長への影響 はじめに

国際共同研究 人口減少が経済社会に与える影響 WG1 マクロ経済成長への影響 はじめに 1962017 WG1 * 2050 65 4 8 * 1 196 OLG 2 3 160 2 2 2 WG1 70 Hyun-Hoon Lee, Kwanho Shin, Donghyun Park 3 Population Aging and Its Impact on Economic GrowthImplications for Korea1960 2014 Penn World Table

More information

UNITED REPUBLIC OF TANZANIA NATIONAL AGEING POLICY

UNITED REPUBLIC OF TANZANIA NATIONAL AGEING POLICY UNITED REPUBLIC OF TANZANIA NATIONAL AGEING POLICY MINISTRY OF LABOUR, YOUTH DEVELOPMENT AND SPORTS September, 2003 TABLE OF CONTENTS CHAPTER ONE PAGE 1. INTRODUCTION. 1 1.1 Concept and meaning of old

More information

The Intergenerational War in Japan: Macroeconomic Burdens of the Demographic Change

The Intergenerational War in Japan: Macroeconomic Burdens of the Demographic Change The Intergenerational War in Japan: Macroeconomic Burdens of the Demographic Change October 3, 2017 Davis Auditorium, Schapiro Center, Columbia University Presented by the Center on Japanese Economy and

More information

Volume Title: Generational Accounting around the World. Volume Author/Editor: Alan J. Auerbach, Laurence J. Kotlikoff and Willi Leibfritz, editors

Volume Title: Generational Accounting around the World. Volume Author/Editor: Alan J. Auerbach, Laurence J. Kotlikoff and Willi Leibfritz, editors This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Generational Accounting around the World Volume Author/Editor: Alan J. Auerbach, Laurence

More information

Healthcare System Innovation for Aging Society -Issues and Direction-

Healthcare System Innovation for Aging Society -Issues and Direction- Healthcare System Innovation for Aging Society -Issues and Direction- APEC Life Sciences Innovation Forum Health Financing Mechanisms & Options Sep. 19, 2010 Prof. Akira Morita University of Tokyo 2010

More information

Intelligent Business. Before you read, discuss. Comprehension. 1) Reading a graph. Working age shift Worksheet

Intelligent Business. Before you read, discuss. Comprehension. 1) Reading a graph. Working age shift Worksheet Working age shift Worksheet A Before you read, discuss Share experiences and discuss the questions the questions below. 1) Do your age group have larger or smaller families than the previous generation?

More information

Ageing and the Changing Nature of Intergenerational Flows in Thailand

Ageing and the Changing Nature of Intergenerational Flows in Thailand Ageing and the Changing Nature of Intergenerational Flows in Thailand Suphannada LOWHACHAI Office of the National Economic and Social Development Board, Thailand September 30, 2015 1 1 Demographic and

More information

Baby Boomers: s

Baby Boomers: s Baby Boomers: 1945-1960s Rising healthcare costs, taxes and low interest rates are prompting even the wealthiest 2 Baby Boomers to question whether they will outlive their money. Baby Boomers: 1945-1960s

More information

Inclusive Growth and Adult Ageing

Inclusive Growth and Adult Ageing Inclusive Growth and Adult Ageing Simon Biggs Biggss@unimelb.edu.au Sbiggs@bsl.edu.au A long Life in Context The Changing Adult Lifecourse Current Policy Narratives Lifecourse Priorities Re-thinking the

More information

Japanese social security measures to support the retiring aged: From employment insurance and public pension

Japanese social security measures to support the retiring aged: From employment insurance and public pension The Year 2000 International Research Conference on Social Security Helsinki, 25-27 September 2000 Social security in the global village Japanese social security measures to support the retiring aged: From

More information

Why Does Japan s Saving Rate Decline So Rapidly? Kentaro Katayama. Visiting Scholar Policy Research Institute, Ministry of Finance, Japan

Why Does Japan s Saving Rate Decline So Rapidly? Kentaro Katayama. Visiting Scholar Policy Research Institute, Ministry of Finance, Japan Why Does Japan s Saving Rate Decline So Rapidly? Kentaro Katayama Visiting Scholar Policy Research Institute, Ministry of Finance, Japan December,2006 The views expressed in this paper are those of the

More information

United Kingdom population trends in the 21st century

United Kingdom population trends in the 21st century United Kingdom population trends in the 21st century Chris Shaw, Government Actuary s Department (GAD) INTRODUCTION At the dawn of the 21st century, many of the probable key trends in population size and

More information

Analysing Australia s Ageing Population: A Demographic Picture

Analysing Australia s Ageing Population: A Demographic Picture National Centre for Social and Economic Modelling University of Canberra Analysing Australia s Ageing Population: A Demographic Picture Ann Harding Paper presented to Australia s Ageing Population Summit

More information

They grew up in a booming economy. They were offered unprecedented

They grew up in a booming economy. They were offered unprecedented Financial Hurdles Confronting Baby Boomer Women Financial Hurdles Confronting Baby Boomer Women Estelle James Visiting Fellow, Urban Institute They grew up in a booming economy. They were offered unprecedented

More information

$1.5 Billion A Year and Growing: Economic Contribution of Older Alaskans By Scott Goldsmith and Jane Angvik

$1.5 Billion A Year and Growing: Economic Contribution of Older Alaskans By Scott Goldsmith and Jane Angvik $1.5 Billion A Year and Growing: Economic Contribution of Older ns By Scott Goldsmith and Jane Angvik September 2006 UA Research Summary No. 7 Institute of Social and Economic Research University of Anchorage

More information

Challenges to Successful Later Retirement

Challenges to Successful Later Retirement ANNA RAPPAPORT CONSULTING STRATEGIES FOR A SECURE RETIREMENT SM Challenges to Successful Later Retirement EBRI Policy Forum Anna Rappaport May 2011 Agenda Disability benefit issues Findings from research

More information

Introduction. 1.1 Introduction

Introduction. 1.1 Introduction Introduction 1 INTRODUCTION 1.1 Introduction A healthy and competent workforce is the biggest asset of any nation. Therefore every progressive country is keen on providing access to healthcare to its citizens.

More information

Chapter 12 The Human Population: Growth, Demography, and Carrying Capacity

Chapter 12 The Human Population: Growth, Demography, and Carrying Capacity Chapter 12 The Human Population: Growth, Demography, and Carrying Capacity The History of the Human Population Years Elapsed Year Human Population 3,000,000 10,000 B.C.E. (Agricultural Revolution) 5-10

More information

Demographic Changes and Challenges for Financial Sector

Demographic Changes and Challenges for Financial Sector November 19, 2018 Bank of Japan Demographic Changes and Challenges for Financial Sector Remarks at the Paris EUROPLACE Financial Forum in Tokyo Haruhiko Kuroda Governor of the Bank of Japan Introduction

More information

Increasing the Employment of Women through Flexible Work Arrangements

Increasing the Employment of Women through Flexible Work Arrangements Increasing the Employment of Women through Flexible Work Arrangements Statements and Comments - Malta Dr Marceline Naudi University of Malta 1. Maltese Context The recently published Gender Equality Action

More information

Clay County Comprehensive Plan

Clay County Comprehensive Plan 2011-2021 Clay County Comprehensive Plan Chapter 1: Demographic Overview Clay County Comprehensive Plan Demographic Overview Population Trends This section examines historic and current population trends

More information

On Abenomics and the Japanese Economy. Motoshige Itoh Member, Council on Economic and Fiscal Policy and Professor, University of Tokyo

On Abenomics and the Japanese Economy. Motoshige Itoh Member, Council on Economic and Fiscal Policy and Professor, University of Tokyo On Abenomics and the Japanese Economy Motoshige Itoh Member, Council on Economic and Fiscal Policy and Professor, University of Tokyo The purpose of this brief overview is to summarize some of the major

More information

Ageing and wrinkles in public finances

Ageing and wrinkles in public finances For Investment Professionals Follow us @LGIM #Fundamentals FUNDAMENTALS Ageing and wrinkles in public finances Pay-as-you-go pension and healthcare schemes are under increasing pressure from ageing populations.

More information

INTRODUCTION AEGON GERMANY REPRESENTATIVE 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6

INTRODUCTION AEGON GERMANY REPRESENTATIVE 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6 CONTENT INTRODUCTION AEGON GERMANY REPRESENTATIVE 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6 4. THE CALL-TO-ACTION: TAKE ACTION, AND DO IT

More information

PUBLIC HEALTH CARE CONSUMPTION: TRAGEDY OF THE COMMONS OR

PUBLIC HEALTH CARE CONSUMPTION: TRAGEDY OF THE COMMONS OR PUBLIC HEALTH CARE CONSUMPTION: TRAGEDY OF THE COMMONS OR A COMMON GOOD? Department of Demography University of California, Berkeley March 1, 2007 TABLE OF CONTENTS I. Introduction... 1 II. Background...

More information

Reasons for promoting population growth in the 1980s. Ageing population

Reasons for promoting population growth in the 1980s. Ageing population Reasons for promoting population growth in the 1980s Ageing population fewer babies born fewer young people in the populationnumber of older people would become proportionately larger ageing population

More information

1 learningenglish.voanews.com Voice of America

1 learningenglish.voanews.com Voice of America How should countries prepare for the world s aging population? A United Nations report is urging countries to answer that question. Japan has the world s oldest population. Thirty percent of Japanese are

More information

The Age Management and Wage Peak System of Korean Firms

The Age Management and Wage Peak System of Korean Firms The Age Management and Wage Peak System of Korean Firms So-Yeong Kwon (School of Management, Ewha Womans University). Introduction Korea has entered into an aging society and its aging rate has been increasing

More information

Health Care Spending: What the Future Will Look Like 1

Health Care Spending: What the Future Will Look Like 1 Draft 7.75 April 27, 2006 Health Care Spending: What the Future Will Look Like 1 by Laurence J. Kotlikoff National Center for Policy Analysis Boston University National Bureau of Economic Research and

More information

Population Aging and Fiscal Sustainability of Social Security in China

Population Aging and Fiscal Sustainability of Social Security in China Population Aging and Fiscal Sustainability of Social Security in China Contents Preface...3 1 The Status and Trend of Population Aging in China...5 1.1 The current situation of China's population structure...

More information

INTRODUCTION 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6

INTRODUCTION 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6 CONTENT INTRODUCTION 1 1. RETIREMENT IN GERMANY 2 2. THE CHANGING NATURE OF RETIREMENT 2 3. THE STATE OF RETIREMENT READINESS 6 4. THE CALL-TO-ACTION: TAKE ACTION, AND DO IT NOW 8 INTRODUCTION AEGON GERMANY

More information

Impacts on Economic Security Programs of Rapidly Shifting Demographics. Robert L. Brown, PhD FCIA, FSA, ACAS

Impacts on Economic Security Programs of Rapidly Shifting Demographics. Robert L. Brown, PhD FCIA, FSA, ACAS Impacts on Economic Security Programs of Rapidly Shifting Demographics Robert L. Brown, PhD FCIA, FSA, ACAS Life Expectancy in Canada 13.0 13.5 15.7 13.6 16.1 19.9 Life Expectancy in the United States

More information

Unprecedented Change. Investment opportunities in an ageing world JUNE 2010 FOR PROFESSIONAL ADVISERS ONLY

Unprecedented Change. Investment opportunities in an ageing world JUNE 2010 FOR PROFESSIONAL ADVISERS ONLY Unprecedented Change Investment opportunities in an ageing world Baring Asset Management Limited 155 Bishopsgate London EC2M 2XY Tel: +44 (0)20 7628 6000 Fax: +44 (0)20 7638 7928 www.barings.com JUNE 2010

More information

Long-Term Care An Actuarial Perspective on Societal and Personal Challenges

Long-Term Care An Actuarial Perspective on Societal and Personal Challenges Long-Term Care An Actuarial Perspective on Societal and Personal Challenges Sam Gutterman FSA, FCAS, CERA, MAAA, HonFIA co-vicechairperson IAA Population Issues Working Group sam.gutterman1@gmail.com 1

More information

North of Scotland Public Health Network Horizon Scanning Project David Kerr, NHS Shetland

North of Scotland Public Health Network Horizon Scanning Project David Kerr, NHS Shetland North of Scotland Public Health Network Horizon Scanning Project David Kerr, NHS Shetland GROS Population Projections As can be seen from the following graphs, the North of Scotland Public Health Network

More information

Financial Implications of an Ageing Population

Financial Implications of an Ageing Population Financial Implications of an Ageing Population Presentation to Aged & Community Care Victoria s State Congress and Trade Exhibition Saul Eslake Chief Economist ANZ Flemington Racecourse Melbourne 25 th

More information