Opportunity: PH senior population on the rise

The rise of the senior population in the Philippines offers an opportunity for the government to adopt policies to improve economic growth, according to Popcom.

The Philippines is facing a demographic shift with the rise of the senior population. According to Popcom, the senior population in the Philippines has doubled from 4.5 million 20 years ago to 9.2 million in 2020, and it is expected to grow further by 2035⁸. This demographic shift presents an opportunity for the government to adopt policies that can improve economic growth. However, the Philippines has little time to address its aging population and should start investing in long-term programs to handle the situation⁸.

Nearly half of Filipino senior citizens are still working, and many face health risks due to poverty⁸. This highlights the need for policies that can help improve their quality of life. The government should focus on creating job opportunities for senior citizens and providing them with access to healthcare services.

Out of the 1.9 million working-age Filipinos with a disability, only 353,000 or less than one in five were part of the workforce in January⁸. This indicates that there is still a long road ahead for persons with disabilities (PWDs) to join the Philippine workforce. The government should take steps to create a more inclusive workforce by providing PWDs with equal employment opportunities.

The Philippines is growing in popularity as a retirement destination⁸. This presents an opportunity for the government to develop policies that can attract more retirees to the country. The government should focus on improving healthcare services, infrastructure, and safety measures to make the country more attractive to retirees.

The Senate hopes to pass the reformed pension system of military and uniformed personnel before the end of the year, according to Sen. Jinggoy Estrada⁸. This will help improve the quality of life of military and uniformed personnel by providing them with better retirement benefits.

In conclusion, the rise of the senior population in the Philippines presents an opportunity for economic growth. However, it is important for the government to address this demographic shift by investing in long-term programs that can improve the quality of life of senior citizens. The government should also focus on creating a more inclusive workforce and developing policies that can attract more retirees to the country.

Source:
(1) PopCom: PH has little time to address aging population. https://newsinfo.inquirer.net/1648755/popcom-ph-has-little-time-to-address-aging-population.
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(9) ‘Opportunity’: PH senior population on the rise | Inquirer News. https://newsinfo.inquirer.net/1646487/opportunity-ph-senior-population-on-the-rise.

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